Ten Clauses of Iran-India Agreement to be Allocated to Chabahar

Ten clauses of the Iran-India Comprehensive Economic Collaboration Document have been allocated to the infrastructures, development, industry and commerce in the region of Chabahar.

News ID: 59507

Date: 07 January 2016 - 16:28

In a common commission, the Director of Chabahar Industrial-Commercial Free Zone stated, Iran-India Comprehensive Economic Collaboration Document was signed by Iran's Secretary of Economy and Treasury and India's Secretary of the State. Of the very many clauses of this agreement, 10 clauses have been allocated to infrastructures, development, industry and commerce in Chabahar region.
According to Marine Times at Sistan and Baluchestan Region, Hamed Ali Mobaraki added that the aforementioned document is composed of diverse sectors such as energy, infrastructures, fittings, hygiene, tourism and commercial cooperation. Besides, the allocation of credit fund to Iran, the participation of India in the projects, India's investment in petrochemical and lower-hand industries and oil were among the issues agreed upon in this document.
Pointing out to the significance of Chabahar Port in India's access to Central Asian Countries, Mobaraki asserted that the operational start of India's 85-million Dollar investment in Chabahar Port, India's participation in the construction of Chabahar-Zahedan railway track, revival of Iran-India's banking relationships, and insurance companies are among the topics discussed and agreed upon in this agreement and incorporated into the clauses of this document.
He added that India has expressed its interest in establishing an industrial petrochemical town in Chabahar Free Trade Zone under the regulations of free economic zone, in case their gas needs are met at competitive prices and in the long run. Provided this development is in place, this region would start to look for a joint investor in chemical industries, appropriate lot, and hinterland fittings.
Mobaraki remarked that Chabahar Free Trade Zone is interested in utilizing the experience as well as the abilities of India's companies and private and public sectors in small and medium-sized industries. In this regard, India's GAIL Corporation has expressed its interest in establishing a factory for the annual production of 10 million cubic meters of liquid gas. Moreover, this Indian corporation has expressed its interest in founding an industrial unit which produces a million tons of ethylene annually, as well as in establishing other downstream industries to produce petrochemical material in Chabahar Port.
The Director of Chabahar Free Trade Zone emphasized that in regards with this document, a triangular summit be held between Iran, India and Afghanistan in the near future to reach agreements on the transit and commercial exchanges among the three countries. As part of this agreement, the Iranian party has committed to devise and deliver the protocol form the transit of the trucks as the customs regulations.
Among other data-x-items discussed and agreed upon in this document, he added, were Indian corporations' investment in establishing chemical fertilizer factories, commercial and infrastructural projects, logistic projects , energy, industry and education in Chabahar Free Trade Zone as well as their cooperation in constructing Chabahar-Zahedan and Chabahar-Mashhad railway tracks.
In the 18th Iran-India Joint Economic Collaborations Commission, the Comprehensive Economic Collaboration Document between the two countries was signed by Ali Tayebnia, Iran's Secretary of Economy and Treasury and Sushma Swaraj, India's Secretary of the State.