Minister of Economic Development, Transport and Trade Mohamed Saeed has said that recent discussions with India have laid a strong foundation for further strengthening economic relations between the two countries.
The minister made the remarks in an interview with India’s WION news agency during his official visit to India.
Speaking about the visit, which was made at the invitation of India’s Minister of Commerce and Industry Piyush Goyal, Saeed described the trip as a success. He said the current momentum in bilateral relations stems from President Dr Mohamed Muizzu’s visit to India and Prime Minister Narendra Modi’s subsequent visit to the Maldives.
Saeed noted that the visit advanced discussions on supporting the President’s digital economy agenda, enhancing tourism and air connectivity, and expanding trade links between the two countries.
He also discussed the proposed Free Trade Agreement (FTA) and the Bilateral Investment Treaty currently under negotiation. According to the minister, business forums held in New Delhi, Mumbai and Bengaluru during President Muizzu’s visit have significantly strengthened ties between businesses and industries in both countries.
The minister said an FTA would provide Maldivian businesses with preferential access to one of the world’s largest and fastest-growing markets. He added that new opportunities would arise in fisheries, marine industries, digital services and other emerging sectors. Small and medium-sized enterprises would also gain access to new markets and regional value chains.
Saeed stated that the agreement would streamline customs procedures, strengthen regulatory co-operation and remove barriers to trade, thereby lowering business costs, improving supply chains and benefiting both businesses and consumers.
He further noted that the Bilateral Investment Treaty would create a clearer and more predictable framework for investors, boosting confidence and encouraging Indian investment in sectors such as tourism, logistics, healthcare, education, renewable energy and the digital economy.
According to the minister, such investment would create jobs, facilitate technology transfer, enhance skills and support innovation, contributing to the Government’s broader goal of building a resilient and future-ready economy.
Saeed emphasised that the agreements would benefit India as well, supporting the development of a more competitive global economic partnership and further strengthening the close ties between the Maldives and India.