TEHRAN: The heads of three countries of the region including President Islamic Republic of Iran Hassan Rouhani, Indian Prime Minister Narendera Modi and Afghan President Asharf Ghani had signed a trilateral agreement on Chabhar, a southern port of Iran.
India said that it will invest up to $ 500 million in deal to develop a strategic strategic port in Iran and both countries planned a number of projects they say are worth hundreds of millions of dollars.
“Today is an important and historical day of development of relations between a three countries”, Iranian President Hassan Rouhani said in a television speech, seated between the two other leaders.
From Tehran, New Delhi and Kabul, there is a crucial message —- that the path to progress for regional countries goes through joint cooperation and utilizing opportunities”.
Indian Premier Modi said that “We want to link to the world, but connectivity among ourselves is also a priority”, Our will starts from Chabhar today, but its end will be an outstanding comprehensive development and economic, social and cultural cooperation”, Said Afghan President Ashraf Ghani.
The deals and plans were announced during a visit by Indian Premier Narendra Modi, the first such trip in more than a decade.
In a ceremony, marking the agreements, Modi said the Chabahar, in southern Iran and the availability of about $ 500 million from India for this purpose is an important milestone, in relation between the two countries.
The development of the port of Chabhar expands a trade route for the land locked countries of central Asia that bypasses Pakistan.
Modi also described cooperation in the oil and gas industries as key components of economic cooperation between Tehran and New Delhi.
Iranian President Hassan Rouhani said that working on the port can be a “great symbol” cooperation between Iran and India.
He said that Iran’s energy resources and Indian mines can pave the ground in aluminum, steel and petrochemical industries. The two leaders will discuss the projects later with visiting Afghan’s President Ashraf Ghani. Indian Premier will also meet Iran’s Supreme leader Ayatollah Ali Khamenai.
The two countries also signed on a number of agreements to enhance technological, petrochemical and banking cooperation.
India also began paying back $ 6 billion in debt from past oil purchases, last week giving Iran $ 750 million.
It has said that it will pay back the remainder of debt.
In 2012, Iran was India’s second-largest crud supplier but oil exports subsequently fell down due to international over Iran’s disputed nuclear program.
Tehran has been seeking to reintegrate into global economic system following the landmark deal with world powers that lifted sanctions in return for limiting its nuclear program.