Linking Iran’s Chabahar Port with the North-South International Transport Corridor will improve connectivity with Central Asian countries, boost investment and deepen cultural and political ties, Union Minister Sarbananda said on Sunday. sonowal.
The International North-South Transport Corridor (INSTC) is India’s vision and initiative to reduce the time it takes for EXIM shipments to reach Russia and Europe and penetrate Central Asian markets.
The port of Chabahar, which was developed with Indian aid, is the commercial transit center of the region, particularly of Central Asia. India is participating in the development of the first phase of Shahid Beheshti Terminal at Chabahar Port in cooperation with the Iranian government.
“This link will not only provide more connectivity, but will also boost investment, further supporting our culture and political ties,” Union Shipping Minister Sarbanand Sonowal said at an event held here to observe “Chabahar Day” to promote “Chabahar – Link to INSTC – Connecting Central Asian Markets”.
“Our vision is to make Shahid Beheshti Port in Chabahar a transit hub and connect it with INSTC to reach Central Asian countries,” he said.
Due to the potential of the Central Asian market, India-led connectivity initiatives are helping to provide secure and commercially viable access to the Indian Ocean region for Central Asian countries, he said. declared.
The minister said the port is a strategically located facility that can connect Central Asia and also South Asia and added, “it will be one of the most important places for global trade and maritime trade.” .
He noted that the port will improve the region’s logistics network and promote a joint initiative to create a regional transnational transport corridor that will not only boost India’s trade but also global trade.
“Through our cooperation, combined efforts, we have successfully developed a connectivity point enhancing trade and commerce between India and Central Asian countries.
This meeting will provide us with a platform on how to place Chabahar Port in the North-South International Transport Corridor.
He said India is looking forward to businesses and logistics companies using the incentives of Shahid Beheshti Port and Chabahar Free Trade Zone.
“We urge all representatives and stakeholders to come up with suggestions to further reduce transportation time and costs to create a cheaper, shorter, faster and more reliable route between India and Iran and India. Central Asia,” the minister added.