Indian Firm Takes Over Operations of Strategic Iranian Port Chabahar
Why in News?
- Indian Firm Takes Over Operations of Strategic Iranian Port Chabahar.
- India Ports Global Limited Company has opened its office and took over operations at the Shaheed Behesti port at Chabahar. It happened during the occasion of the first meeting of the follow-up committee for implementation of the trilateral Chabahar agreement between India, Afghanistan and Iran.
Trilateral Chabahar agreement:
- Positive and constructive discussions were held between the three sides on full operationalisation of the Trilateral Transit Agreement for international transit and transport through the Chabahar port.
- It was agreed to finalise at the earliest the protocol to harmonise transit, roads, customs, and consular matters. It was agreed to allow cargo movement at Chabahar using TIR Convention provisions.”
- The Convention on International Transport of Goods Under Cover of TIR Carnets (TIR Convention) is a multilateral treaty aimed at simplifying and harmonising the administrative formalities of international road transport.
- TIR stands for “Transports Internationaux Routiers” or ‘International Road Transports.
- Also a study would be initiated for determining measures to make the route attractive, decrease logistic costs and pave the way for smooth operationalisation of the Chabahar Agreement.
- India is investing $500 million to develop the Chabahar port and a road link from there to Afghanistan to give access to that country, bypassing Pakistan.
- The port is also a key link in the International North South Transport Corridor (INSTC), a 7,200-km-long multi-modal network of ship, rail and road routes to move freight between India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia and Europe.
- Last month, the US waived India from its fresh sanctions on Iran’s oil imports and development of the crucial Chabahar port.
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