Iran, India agree to increase investment in Chabahar Port - FM

By Trend

Iranian Foreign Minister Hossein Amir Abdollahian said that Iran and India have agreed to increase investment in Chabahar Port, Trend reports citing IRNA.

Addressing a meeting of “Promising Steps Ahead in Developing Trade Opportunities between Iran and India” in Hyderabad, India, Amirabdollahian said that US’ unilateral and oppressive sanctions will end.

Thanks to its resistance and vigilance, Iran made these sanctions ineffective in the first place, he said.

Most of the sanctions were imposed on defense sector, he said adding that other sanctions were aimed at preventing developments in science and technology.

The new Iranian government is determined to complete and accelerate the program of sustainable economic development, he noted.

Elsewhere in his remarks, he lauded Hyderabad special position in Iran-India historical ties, saying that the political relations between the two countries are at the best level, meaning that the political leaders paved the way for developing relations.

India uses the capacity of Chabahar port, but its capacity can provide North-South and East-West transit routes, Amirabdollahian said.

Businesses need easy banking and financial infrastructure and mechanisms, he said adding that the two countries have negotiated on using financial mechanisms.

He also hailed opportunities and capacities in the field of energy and petrochemicals, agriculture and nuts, as well as steel, chemical fertilizers and medical equipment, knowledge-based products and other industrial sectors.