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Iran's trade, economic, political relations with neighboring countries to be developed

Business Materials 7 March 2021 07:30 (UTC +04:00)
Iran's trade, economic, political relations with neighboring countries to be developed

BAKU, Azerbaijan, Mar. 7

By Elnur Baghishov – Trend:

Iran will develop trade, economic and political relations with neighboring countries, Iranian Minister of Roads and Urban Development Mohammad Eslami said, Trend reports citing the ministry.

He made the remark in his speech during Maritime India Summit-2021 held in the Chabahar port in the Sistan and Baluchestan (southeastern Iran).

Eslami noted that in this regard, Iranian ports, roads, and railways are being developed.

The minister added that Iran's geographical position brings closer the countries of the Persian Gulf and the Gulf of Oman with the countries of Central Asia, the Caucasus, and Russia. Thus, it will be possible to use regional transit and the potential of the existing large markets in the region.

According to him, the Iranian Chabahar port is of great importance in this regard. So, the countries that do not have access to international waters will have access to it through Iran.

Eslami stressed that the capacity of Chabahar port is 8.5 million tons at present. More than $1 billion has been spent on the port so far.

As reported, according to a memorandum between Iran, India, and Afghanistan, the Iranian port of Chabahar is used for trade between India and Afghanistan.

Indian Ports Global Ltd (IPGL) is the operator of the Chabahar port will invest $85 million in the port.

About 221,000 tons of cargo were loaded and unloaded in the Chabahar port in the Sistan and Baluchestan Province (southeastern Iran) in the 10th month of the current Iranian year (December 21, 2020, through January 19, 2021). So, 3,310 tons of cargo were loaded and 218,000 tons were unloaded in the port over the reporting period.

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