Achi news desk-
President of the Maldives Mohamed Moizu.
The Maldives on Saturday said that India has started efforts for a Free Trade Agreement (FTA) between the two countries and discussions are ongoing to achieve this goal. Economic Development and Trade Minister Mohammad Syed said they (India) want a separate free trade agreement with Maldives in addition to SAFTA (South Asian Free Trade Agreement).
Saeed said that the President of Maldives has given this opportunity to all countries and the government aims to make agreements with more and more countries so that easy trade activities can be provided.
India’s alleged attempt to demand an FTA with the Maldives comes against the backdrop of the ongoing diplomatic dispute between the two countries since November last year. President Muizzu, known for his pro-China stance, was sworn into office in November last year.
The 1981 India-Maldives Trade Agreement provides for the export of essential products. Growing from humble beginnings, India-Maldives bilateral trade crossed $300 million for the first time in 2021, reaching $500 million in 2022, according to Indian High Commission records.
