India, Iran to sign 10-year agreement for operations at Chabahar port.

MOUs and Agreement

The long-term agreement was being negotiated by the two sides over the past three years or so and had been primarily held up by differences on a clause related to arbitration.Ports and shipping minister Sarbananda Sonowal left for Iran on Monday for the signing of a crucial long-term agreement for India’s operations at the strategic Chabahar port, people familiar with the matter said.It will replace an initial pact inked in 2016 that covered India’s operations at Shahid Beheshti terminal of Chabahar port and has been renewed on an annual basis. Sonowal flew from New Delhi to Tehran on a special Indian Air Force (IAF) flight and people familiar with the matter on both sides said his visit was linked to the signing of the 10-year agreement for operations by state-run India Global Ports Limited (IGPL) Shahid Beheshti terminal.


      Renewal: Initial pact signed in 2016 renewed annually, now replaced by a 10-year agreement.

      Strategic: Agreement for India's operations at Chabahar port, crucial for regional connectivity.

      Resolution: Overcame differences, particularly on arbitration clause, after three years of negotiation.

 

     


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