Iranian officials are optimistic about potential Indian investments in the Chabahar region following the signing of a long-term deal for the operations of Chabahar Port. Davoud Rezaei Eskandari, Acting Consul General of Iran in Mumbai, said the Chabahar Port agreement may be a milestone in bilateral ties between the two nations.
The latest 10-year contract, signed on May 13 between Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran, replaces the earlier 2016 agreement extending the scope of Indian operations beyond the Shahid Beheshti Terminal.
Eskandari said "We believe that Chabahar Port is strategically important for India and Iran and it's also a very important port for both countries from different point of views."
The senior Iranian diplomat described the Chabahar Port contract as an historic agreement, which is going to be a starting point for further strengthening bilateral ties and regional connectivity. He recalled that India initiated the North-South Corridor along with Iran and Russia. The corridor will give direct access to Afghanistan and the landlocked Central Asian countries.
The Chabahar Port contract is "very important, of course for Iran (as well). We are looking for some investment in the Chabahar area. So we can expect some investment in this area," he stated.
Located on the Gulf of Oman, Chabahar Port is a key point in Iran through which Indian goods reach Afghanistan and Central Asia using the International North-South Transport Corridor, without touching Pakistani soil. Eskandari called the corridor "strategic," as it increases the security of the cargo and opens up possibilities of diversifying the supply chain that is very important for the economic interests of the region.
He said Chabahar's development is not only important for India but also for the countries of South Asia and the ASEAN. Eskandari said India's management of the port and the corridor may open new trade routes and opportunities for economic integration with the region down to Russia.
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