i.Uzbekistan & Iran supported India’s proposal of holding “Chabahar Day” on the sidelines of the International Maritime Summit, which will be hosted by India in January 2021.
Key Points:
i.All 3 countries noted the significant role played by Chabahar port to deliver humanitarian assistance during the Pandemic.
ii.The TWG meeting is a result of decisions taken during the Virtual Summit between Indian Prime Minister Narendra Modi and Uzbekistan’s President Shavkat Mirziyoyev which took place on December 11, 2020.
Chabahar Port:
i.It is located in the Southeastern part of Iran on the Gulf of Oman and is being developed by India.
ii.It is essential for India as it provides a way for India to bypass Pakistan goods to Afghanistan and other countries via sea route.
iii.The port would halve the time and cost of doing business with European & Central Asian Countries.
iv.It also holds strategic importance as it is just 170 kms away from Gwadar Port built in Pakistan by China.
2016 – Trilateral Agreement:
i.In May 2016, India, Iran & Afghanistan signed a trilateral trade and transit agreement to develop the Chabahar Port.
ii.As part of the Agreement, India was granted a 10-year lease to develop and operate 2 terminals & 5 berths and access to Chabahar free trade zone.
Recent Related News:
i.October 29, 2020, India has extended USD 1 Billion (~ INR 7, 400 Crores) Line of Credit for Development Projects in Central Asian Countries.
ii.On 24th August 2020, V Muraleedharan, MoS for External Affairs, Government of India and Sardor Umurzakov, Deputy Prime Minister for Investments and Foregin Economic Relations, Uzbekistan co-chaired the first National Coordination Committee Meeting over a virtual platform.
About Iran:
President – Hassan Rouhani
Capital – Tehran
Currency – Iranian Rial
About Uzbekistan:
President – Shavkat Mirziyoyev
Capital – Tashkent
Currency – Uzbekistani soʻm