PM Modi in Iran: India-Iran-Afghanistan sign historic pact for trilateral transport & transit corridor

By: | Updated: May 23, 2016 9:38 PM

In a landmark move, India, Iran and Afghanistan have signed pact for Trilateral Transport & Transit Corridor during Prime Minister Narendra Modi's visit to Iran.

PM Modi, Modi in Iran, India-Iran-Afghanistan pact“The 3-nation pact will strengthen our ability to stand in mutual support against those whose only motto is to maim and kill innocents,” Modi said. (MEA photo)

A “milestone” pact on the strategic Chabahar Port in southern Iran which will give India access to Afghanistan and Europe bypassing Pakistan was among the agreements signed here today by India and Iran which also agreed to cooperate on combating radicalism and terror.

Besides the bilateral pact to develop the Chabahar port for which India will invest USD 500 million, a trilateral Agreement on Transport and Transit Corridor was also signed by India, Afghanistan and Iran, which Prime Minister Narendra Modi said could “alter the course of the history of the region”.

The bilateral agreements signed by India and Iran after detailed discussions between Modi and President Hassan Rouhani included one on setting up of an aluminium plant and another on laying a railway line to give India access to Afghanistan and Central Asia.

The agreements, aimed at further deepening India-Iran ties in diverse fields, covered areas of economy, trade, transportation, port development, culture, science and academic cooperation.

The two countries noted with deep concern that terrorism and ideologies of violent extremism “continue to infest and ingress” the region and agreed to enhance regular consultations between National Security Councils and others concerned on terrorism, security and related issues such as organised crime, money-laundering, narcotics trade and cyber crime, said a India-Iran Joint Statement issued later.

Modi’s visit, the first by an Indian Prime Minister in 15 years, comes months after the lifting of international sanctions on Iran following Tehran’s historic nuclear deal with the Western powers over its contentious atomic programme. Earlier, the then Prime Minister Atal Bihari Vajpayee had visited the country in April 2001.

The key agreement signed was a contract for development of Phase I of the Chabahar port on the southern coast of Iran by an Indian joint venture.

Chabahar port, located in the Sistan-Balochistan Province on the energy-rich Persian Gulf nation’s southern coast, lies outside the Persian Gulf and is easily accessed from India’s western coast, bypassing Pakistan.

“The bilateral agreement to develop the Chabahar port and related infrastructure and availability of about USD 500 million from India for this purpose is an important milestone,” Modi said in joint media interaction with Rouhani.

“This major effort would boost economic growth in the region. We are committed to take steps for early implementation of the agreements signed today,” he said.

The trilateral pact on Transport and Transit Corridor, linked to the Chabahar port development, was signed later by India, Iran and Afghanistan in the presence of Modi, Rouhani and Afghan President Ashraf Ghani.

Rouhani said each of the three countries will name a minister for follow-up action.

“They (leaders) look forward to early delineation of all necessary rules and procedures leading to operationalisation of the transport and transit routes within the timelines stipulated in the Agreement,” the Joint Statement said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition