Modi, Rouhani power India-iran ties with Chabahar port pact
CHABAHAR IS A GOLDEN GATEWAY TO REACH OUT TO LAND-LOCKED AFGHANISTAN AND CENTRAL ASIA: PM
NEW DELHI: Prime Minister Narendra Modi and Iranian President Hassan Rouhani on Saturday held “substantive” talks on key issues of trade, energy, security and terrorism, after which the two sides inked nine pacts, including a lease contract for a part of Chabahar port’s operation for 18 months. The two leaders also deliberated on the regional situation during wide-ranging talks, with both asserting that there was a need for a peaceful, stable, prosperous and a pluralistic Afghanistan.
The two sides also inked nine pacts, which included lease contract between Iran’s Port and Maritime Organization and India’s Ports Global Limited (IPGL) to take over operation of existing facilities at the Shahid Beheshti Port — Phase 1 of Chabahar — for 18 months. Other pacts included avoidance of double taxation and the pre- vention of fiscal evasion with respect to taxes on income, ratification of extradition treaty, exemption from visa requirement for holders of diplomatic passports, traditional systems of med- icine and establishment of an expert group on trade remedy measures. In addition to these nine pacts, four more pacts were inked on the sidelines of Rouhani’s visit between the two countries, officials said.
Modi said that the visit by the Iranian president shows how the two sides want to deepen cooperation in key areas, including connectivity, and described the strategically- important Chabahar as a “golden gateway”, development of which will help in reaching out to land-locked Afghanistan and central Asia. The prime minister also appreciated the way the Iranian leader provided leadership in developing the Chabahar Port. Noting that they had “positive talks” on tariff-related issues and banking relations, Rouhani said,”we have decided to expand cooperation in natural gas and petrochemical sector.”
Earlier, Rouhani was given a ceremonial welcome at the Rashtrapati Bhavan. In the morning, External Affairs Minister Sushma Swaraj called on Rouhani and discussed various issues with him.
NEW DELHI: India on Saturday sought from Iran a stake in a producing oil field and said it will raise crude oil import from Iran in the financial year beginning April, reversing the 25 per cent reduction it had done in the current fiscal.
Visiting Iranian Oil Minister Bijan Namdar Zangeneh, after talks with his Indian counterpart Dharmendra Pradhan, said he was "optimistic" about signing of an agreement awarding rights of Iran's giant Farzad-b gas field to its discoverer, ONGC Videsh Ltd.
He said Indian public and private sector oil companies will in 2018-19 fiscal buy 0.5 million barrels of crude oil per day (25 million tonnes).
This will be 25 per cent more than current fiscal imports estimated at 370,000 barrels per day (18.5 MT).
India had for the current fiscal cut oil imports from Iran by nearly 25 per cent over delays in award of Farzad-b development rights to OVL. In 201617, India had imported 510,000 barrels per day (25.5 million tonnes) of oil from Iran.
"I am very optimistic about the future of the relationship between the two countries and our companies especially for oil and gas fields development," the Iranian Oil Minister said after the meeting.
He said he was optimistic of signing the agreement with Indian companies for developing Farzad-b" within 2018.
On the timelines, he said, "We agreed that next week the Indian team will come to Tehran for finalising some of the points."
Pradhan said Iran has given "good incentives" on crude oil exports to India. "It will be beneficial for India to buy more crude from Iran rather than from other countries.
We have agreed that India will buy more crude oil from Iran in coming days."
Like the recent acquisition of 10 per cent stake in 20 million tonnes a year producing oil field in UAE, India made a case for a stake in a producing Iranian oil field, he said adding on Indian horizon was a field like South Azadegan.