Delhi, Tehran and Kabul sign historic Chabahar port agreement
India grants a US$ 500 million line of credit to build and maintain the facility. Indian goods will be able to reach Central Asia and Europe, halving time and costs. The port will be directly linked to Afghanistan. The goal is to boost cooperation and take advantage of the end of sanctions in Iran.
Tehran (AsiaNews/Agencies) – Iran, India and Afghanistan have agreed to develop a trade corridor between the three countries.
Delhi will open a $ 500 million line of credit to build and maintain the port of Chabahar, on the southeastern coast of Iran, which will become a trade hub for Afghanistan.
The aim is to allow Indian goods to reach Central Asia and Europe. This would bypass Pakistan and take advantage of the end of economic sanctions after the Iranian nuclear deal.
The historic agreement was signed yesterday in Tehran in the presence of the leaders of three countries (pictured).
For the Indian Prime Minister Narendra Modi, the first Indian prime minister to visit Iran in 15 years, the trilateral corridor is the "opening of a new chapter in our strategic partnership" and a new page in history. In fact, India is not the only country to see opportunities with the end of the embargo against Iran.
Before India, other government leaders (from Italy, Germany, France, South Korea) have rushed to Iran, a country with a young population in need of new infrastructure and eager to overcome 35 years of sanctions.
The volume of trade between Iran and India in the past 11 months has reached US$ 9 billion, this according to Iran's official IRNA news agency. Chabahar would boost this, allowing the two countries to go around Pakistan to develop trade with the Central Asian countries.
The scope of the agreement is also clear to Iran's leaders. "From Tehran, New Delhi and Kabul, this is a crucial message ... that the path to progress for regional countries goes through joint cooperation and utilising regional opportunities,” said Iranian President Hassan Rouhani.
The alternative route will halve costs and time, and place the Iranian port in direct competition with the one built by China in Gwadar, Pakistan, which gives Beijing a commercial edge in the region.
Separately, Iran and India also signed agreements to share intelligence to fight terrorism, increase cultural and technology contacts, as well as pursue joint projects in energy and connectivity.
"We have agreed to consult closely and regularly on combating threats of terrorism, radicalism, drug trafficking and cyber crime,” Modi said.
"The two countries discussed political issues [. . .] and how they can contribute to peace and stability in the whole region," Rouhani added.
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