Economy, Domestic Economy

Transport Cooperation With India

Transport Cooperation With IndiaTransport Cooperation With India

Expansion of transportation routes between Iran and India can bring about numerous economic benefits for both countries, said Iranian Roads and Urban Development Minister Abbas Akhoundi in a meeting with his Indian counterpart Nitin Gadkari, IRNA reported.

“Transportation between the two countries must be facilitated and the existing obstacles must be removed,” Akhoundi asserted on Wednesday.

Akhoundi visited Nepal on Nov. 26-27 to attend the 18th South Asian Association of Regional Cooperation (SAARC) Summit in Katmandu, the capital of Federal Democratic Republic of Nepal.

The theme of the summit was ‘Deeper Integration for Peace and Prosperity’ with a focus on enhancing connectivity between the member states for easier transit across the region.

The Indian minister, for his part, voiced enthusiasm for promoting Tehran-New Delhi cooperation in the transportation sector, saying, “Transit, shipping and transportation of goods and passengers can be among the areas of cooperation.”

“We are trying to remove existing obstacles in the way of promoting bilateral ties and move towards serving mutual interests,” Gadkari said.

Iran and India, with deep historical and cultural relations, are now seeking to further expand political and economic ties.

India, the world’s fourth-largest petroleum consumer, is Iran’s second largest oil customer after China and purchases around $12 billion worth of Iranian crude every year; that is about 12 percent of its consumption.

India and Iran have been holding discussions at regular intervals on issues related to economic cooperation under the joint commission mechanism, which was established in July 1983.