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Trade issues with India will be resolved soon, says Iran minister

Amir-Abdollahian’s visit to India and talks of greater engagement assume significance, especially in the aftermath of a furore over the comment of a now-suspended BJP spokesperson on Prophet Muhammad, which had drawn condemnations from Islamic nations, including Iran.

At an interactive session with the Indian trade community in Mumbai on Thursday, organised by the Federation of Indian Export Organisations (FIEO) and UCO Bank, the minister also encouraged more Indian investments in the strategically-important Chabahar port in Iran.
At an interactive session with the Indian trade community in Mumbai on Thursday, organised by the Federation of Indian Export Organisations (FIEO) and UCO Bank, the minister also encouraged more Indian investments in the strategically-important Chabahar port in Iran.

The infrastructure and related issues being faced by New Delhi while doing trade with Tehran will be resolved soon, Iran’s foreign minister Hossein Amir-Abdollahian said on Thursday, as he called for greater bilateral engagement not just in trade but in all other critical areas.

Amir-Abdollahian’s visit to India and talks of greater engagement assume significance, especially in the aftermath of a furore over the comment of a now-suspended BJP spokesperson on Prophet Muhammad, which had drawn condemnations from Islamic nations, including Iran.

At an interactive session with the Indian trade community in Mumbai on Thursday, organised by the Federation of Indian Export Organisations (FIEO) and UCO Bank, the minister also encouraged more Indian investments in the strategically-important Chabahar port in Iran.

“The economies of India and Iran do not compete with each other; rather they complement each other,” Amir-Abdollahian said.

He also said that a delegation from Iran will soon visit India to take forward the trade engagement between the two countries.

India-Iran trade dropped substantially after the western sanctions against Tehran hit bilateral commerce.

The bilateral trade stood at just about $2 billion in FY22.

FIEO’s regional chairman Nandkishor Kagliwal called for efforts to “to explore traditional mechanisms of trade like barter trade, so as to defeat the implication of sanctions”.

He said there is a strong need for political negotiations at the global level where “(western) sanctions on Iran may either be relaxed to some extent or an explicit interpretation of narrow exemption on Chabahar port may be rolled out by the US”.

India has been developing two terminals at the Chabahar port and under an agreement signed with Iran, it would run the terminals for 10 years.

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