CHABAHAR PORT DEAL - DOSTI IN AIR

May 24 2016 : The Times of India (Delhi)
`DOSTI' IN AIR, INDIA & IRAN INK $500M CHABAHAR PORT DEAL

TehranNew Delhi:

TIMES NEWS NETWORK & AGENCIES

Also Rope In Afghanistan For Trade Corridor

India and Iran on Monday signed the much-anticipated bilateral pact for development of Chabahar port and a related deal involving Afghanistan for the establishment of a trilateral trade and transit corridor. Prime Minister Narendra Modi invoked centuries-old Modi invoked centuries-old “dosti“ (friendship) between Tehran and Delhi after signing the $500 million Chabahar agreement in Iran's capital, and said the trilateral corridor could “alter the course of the history of the region“.

Located barely 120km west of China's own Gwadar port in Pakistan's Balochistan province, Chabahar will rid India of its dependence on Pakistan for access to Afghanistan and energy-rich cen tral Asia where Beijing's influence continues to grow by leaps and bounds.

 

At a Chabahar connectivity event -where the trilateral pact was inked in the presence of Modi, Iranian President Hassan Rouhani and Afghan President Ashraf Ghani -the PM quoted Persian poet Hafez to say, “Days of separation are over; night of wait is coming to an end; our friendship will stay forever“. India and Iran on Monday inked a clutch of pacts, including a “milestone“ one on developing the key Chabahar port.

In Tehran, PM Modi described the agreement for an India-Afghanistan-Iran trilateral corridor as a new foundation of convergence between the three as it would spur unhindered flow of commerce throughout the region. The key arteries of the corridor would pass through the Chabahar port. “Today , we are all witnessing creation of history , not just for the people of our three countries, but for the entire region. To build bonds of connectivity is the most basic of human urges,“ said Modi.

India has committed $500 million for the Chabahar port project which was conceptualised as early as 2003 but hardly saw any progress because of the international sanctions imposed on Iran. Apart from the agreement for Chabahar, India and Iran signed 11 other agreements following the meeting between Modi and Rouhani.

Chabahar's location, on the mouth of Gulf of Oman, is of great strategic significance.

“Its reach could extend to the depths of the central Asian countries. When linked with the International North-South Transport Corridor, it would touch south Asia at one end and Europe at another. And, studies show that as compared to the traditional sea routes, it could bring down the cost and time of the cargo trade to Europe by about 50%,“ said Modi.