PM Modi Full Speech on India-Iran Chabahar Port Agreement

India and Iran on Monday (May 23) decided to jointly combat terror, radicalism and cyber crime as the two strategic partners signed 12 agreements including a “milestone” pact on developing the key Chabahar port for which India will provide USD 500 million. “We have agreed to consult closely and regularly on combating threats of terrorism, radicalism, drug trafficking and cyber crime,” Modi said while addressing a joint press conference with Iranian President Hassan Rouhani after the two held one-on-one talks. Besides developing the Chabahar port, the two sides also singed agreements in diverse fields like trade credit, culture, science and technology and railways.”The bilateral agreement to develop the Chabahar port and related infrastructure, and availability of about USD 500 million from India for this purpose, is an important milestone,” said Modi. “This major effort would boost economic growth in the region. We are committed to take steps for early implementation of the agreements signed today,” he said. Chabahar port, located in the Sistan-Baluchistan Province on Iran’s southern coast, is of great strategic utility for India. It lies outside the Persian Gulf and is easily accessed from India’s western coast, bypassing Pakistan. India and Iran had in 2003 agreed to develop Chabahar on the Gulf of Oman outside the Strait of Hormuz, near Iran’s border with Pakistan. India and Iran have also agreed to enhance interaction between their defence and security institutions on regional and maritime security, said Modi, who is the first Indian Prime Minister to visit the important energy-rich Persian Gulf nation after a gap of 15 years.

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