Historic Land Transit Trade Agreement Inked by India, Iran and Afghanistan [ Current Affairs ]
Indian Prime Minister Narendra Modi, Iranian President Hassan Rouhani and Afghanistan President Ashraf Ghani in Teheran, Iran have inked a historic three-way land transit agreement on Iran’s strategic southern port of Chabahar.
- India will invest up to 500 million dollars in a deal to develop a strategic port in Iran according to the agreement.
- Chabahar port is tactically located in the Sistan-Balochistan Field on the energy-rich Persian Gulf nation’s southern coast.
- It is located between outside the Persian Gulf and is simply accessed from India’s western coast, bypassing Pakistan.
- The agreement on the creation of a Trilateral Transport and Transit Corridor has possible to adjust the course of history of this region.
- It can offshoot unimpeded flow of export throughout the region and its economic fruits will:
- Grow trade
- Attract investment
- Build infrastructure
- Develop industry
- Create jobs
- With this opportunities for Indian companies to explore Afghanistan’s mineral wealth will open due to India gets sea-land access route to Afghanistan bypassing Pakistan.
Prime Minister Narendra Modi’s visit to Iran
- In last 15 years it was for the first time an Indian PM visited Iran and comes months after international sanctions on Iran were raised following its historic nuclear deal with the P5 + 1 nations over its argumentative atomic programme.
- Previously former Prime Minister Atal Bihari Vajpayee had visited Iran in April 2001
- Published on: May 24, 2016