Indian Prime Minister, Narendra Modi, has highlighted the potential for increased utilization of the Chabahar Port by member states of the Shanghai Cooperation Organization (“SCO”) following Iran's recent membership. Speaking at the 23rd SCO Summit, Modi emphasized the significance of the International North-South Transportation Corridor as a secure and efficient route for landlocked Central Asian countries to access the Indian Ocean. He urged the member states to work together in maximizing the utilization of the Chabahar Port, stating that it could serve as a crucial commercial hub.
The Chabahar Port, located in Iran's Sistan-Baluchistan Province, holds strategic importance due to its geographic proximity to Afghanistan, Pakistan, and India. It is Iran's only oceanic port and consists of two separate ports named Shahid Kalantari and Shahid Beheshti. The port's connection to the 7,200-kilometer-long International North-South Transportation Corridor (“INSTC”) further enhances its potential as a key trade route. India has been particularly focused on the development of the Chabahar Port, signing an agreement in May 2016 to establish the INSTC with an investment of $85 million.
The Chabahar Port project offers India an alternate supply route for goods, reducing its reliance on Pakistan as the sole option. It provides India with access to Afghanistan and beyond, connecting to countries such as Turkmenistan, Uzbekistan, Tajikistan, Kyrgyzstan, Kazakhstan, Russia, and Europe via the INSTC.
Additionally, India and Iran have been actively involved in linking the Chabahar Port to the Zaranj-Delaram Highway in Afghanistan, a 215-kilometer highway that was built with Indian assistance. This project further strengthens regional connectivity and trade prospects.
In a significant step towards fostering economic ties, the co-chairs of the Iran-Azerbaijan State Commission on economic, trade, and humanitarian cooperation convened in the charming city of Astara, Gilan Province. The meeting brought together Azerbaijan’s Deputy Prime Minister, Shahin Mustafayev, and Iran’s Minister of Roads and Urban Development, Mehrdad Bazrpash, to discuss vital issues pertaining to regional and international transport, communication, and energy projects.
The officials underscored the paramount importance of enhancing the region's transit potential, recognizing the potential benefits it holds for both nations. Consequently, they mutually agreed to expedite the implementation of various transport infrastructure projects, which will bolster connectivity between the two countries.
One of the key highlights of the meeting was the emphasis on completing the construction of the Astara Cargo Terminal within the coming year. This essential project is expected to play a pivotal role in facilitating efficient cargo movement and streamlining trade activities between Iran and Azerbaijan. Additionally, both parties stressed the need to establish customs and border facilities for a highway bridge over the Astarachay River. This bridge will serve as a critical link, further bolstering trade and communication between the two nations.
Furthermore, the meeting addressed cooperative efforts in utilizing energy and water resources effectively. The leaders reviewed the progress of ongoing projects in this regard, aiming to enhance cooperation in these vital sectors.
The discussions in Astara marked a positive stride towards fostering robust economic cooperation and sustainable development between Iran and Azerbaijan. It demonstrated the commitment of both countries to explore new avenues for mutually beneficial collaborations, which hold the potential to uplift their economies and promote regional prosperity.
During the first quarter of the current Iranian year (March 21 - June 21), Isfahan Province experienced a remarkable increase in exports. A total of 524,000 tons of goods, valued at $447.86 million, were exported, representing a substantial 7% rise in weight and an impressive 41% surge in value compared to the same period last year.
Among the key export destinations, Iraq stood out as the primary recipient with $161 million worth of goods, marking a remarkable 51% increase from the previous year. Pakistan followed closely with $107 million (up 57%), while Turkey recorded $36 million in exports (up 55%). Afghanistan witnessed a significant surge with $31 million (up 154%), and the UAE received $26 million in exports (down 7%).
Notably, the main exported products from Isfahan during this period were cast iron, iron, and steel, contributing $225 million to the total exports. Additionally, petrochemical products played a substantial role, accounting for $66 million in exports. Iron and cast iron products amounted to $26 million, and handmade and machine-made carpets contributed $25 million to the impressive export figures.
The robust growth in exports from Isfahan Province reflects the region's increasing competitiveness in international markets and its commitment to expanding trade partnerships with neighboring countries. Such positive trends bode well for the region's economic development and foster a promising outlook for further trade opportunities in the future.
Indian Prime Minister, Narendra Modi, has highlighted the potential for increased utilization of the Chabahar Port by member states of the Shanghai Cooperation Organization (“SCO”) following Iran’s recent membership. Speaking at the 23rd SCO Summit, Modi emphasized the significance of the International North-South Transportation Corridor as a secure and efficient route for landlocked Central Asian countries to access the Indian Ocean.
