Chabahar Port Agreement: Boosting Investments And Connectivity With Central Asia
Union Minister Sarbananda Sonowal embarked on a trip to Iran on Monday for the anticipated signing of the Chabahar port agreement. External Affairs Minister S Jaishankar expressed confidence that this agreement would lead to increased investments and enhance connectivity between India and Central Asia.
During a media interaction in Mumbai, Minister Jaishankar highlighted the significance of reaching a long-term agreement with Iran regarding the Chabahar port. He noted that previous arrangements had been ad hoc due to uncertainties about partnership structures in Iran. However, with a long-term deal, larger investments are expected to flow into the port, facilitating its growth and development.
Minister Jaishankar also mentioned the India-Middle-East Europe Economic Corridor (IMEC) agreement established during last year’s G20 summit. He emphasized that the Chabahar port’s strategic location would enhance connectivity through the International North-South Transport Corridor, linking India to Central Asia and beyond.
The Chabahar port agreement holds significant economic and strategic importance, creating a new trade route from South Asia to Central Asia via Iran. This route bypasses ports in Pakistan, offering alternative and efficient transit options for regional trade.
The agreement, once finalized, will enable India to lease the Chabahar port for an extended period, enhancing its maritime reach in the region. This move aligns with India’s broader connectivity initiatives, particularly the International North-South Transport Corridor (INSTC), aimed at facilitating cargo movement between India, Iran, and Central Asia.
India’s focus on Chabahar reflects its commitment to strengthening regional connectivity and countering Chinese influence in the region. The Chabahar port, along with initiatives like the Sittwe port in Myanmar, underscores India’s growing maritime presence and economic aspirations in the Indo-Pacific region.
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