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India Iran Afghanistan sign transport corridor pact

On 23 May 2016 India, Iran and Afghanistan signed the agreement on Trilateral Transit and Transport Corridor.
•    The agreement was signed in the presence of Prime Minister Narendra Modi, President Hassan Rouhani of Iran and the Afghan President Ashraf Ghani in Tehran.
•    The purpose of the agreement is to facilitate seamless transport of goods between India and Afghanistan via the Chabahar port that is strategically located in the South East of Iran.
•    This agreement is expected to bring down cargo tariffs and boost regional economic development.
•    Besides, India and Iran also signed an agreement for the development of the Chabahar port. This agreement is complementary to the agreement on Trilateral Transit and Transport Corridor.
•    Under the agreement, India will develop the Chabahar port in Iran at an estimated cost of 150 million US dollars.

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The Asian highway linking India, Myanmar and Thailand has been put into service.

•    Myanmar Vice President U Nyan Tun, Thai Deputy Prime Minister Somkid Jatusripitak and Chairman of the Kayin National Union General Saw Mutu Sae Po attended an inaugural ceremony of the service on 22nd May 2016, Xinhua reported.
•    With the 25.6-km-long section becoming operational, travel time between Thinggan Nyenaung and Kawkareik will be reduced from three hours to 45 minutes.
•    The construction of the Asian highway section started in 2012 with the assistance of Thailand.
•    The Asian highway runs from Moreh in India to Thailand's Maesot via Myanmar's Tamu, Mandalay and Myawaddy.
•    The section, also part of the East-West economic corridor of the Greater Mekong Subregion, will not only enhance trade between Myanmar and Thailand, but also contribute to better links among people in the region.
•    A cornerstone laying ceremony was also held at Myawaddy on Sunday for the building of Myanmar-Thailand Friendship Bridge No.2 to link Thailand's Maesot with Myanmar's Myawaddy.

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Iran and India sign deal on Charbahar Port

India, Iran and Afghanistan  on 23 May 2016 signed the agreement on Trilateral Transit and Transport Corridor.
•    The agreement was signed in the presence of Prime Minister Narendra Modi, President Hassan Rouhani of Iran and the Afghan President Ashraf Ghani in Tehran.
•    The purpose of the agreement is to facilitate seamless transport of goods between India and Afghanistan via the Chabahar port that is strategically located in the South East of Iran.
•    This agreement is expected to bring down cargo tariffs and boost regional economic development.
•    Besides, India and Iran also signed an agreement for the development of the Chabahar port. This agreement is complementary to the agreement on Trilateral Transit and Transport Corridor.
•    Under the agreement, India will develop the Chabahar port in Iran at an estimated cost of 150 million US dollars.
•    Two countries share some common strategic interests.
•    India and Iran differ significantly on key foreign policy issues.
•    India supports the presence of NATO forces in Afghanistan unlike Iran.
•    Iran is the second largest supplier of crude oil to India, supplying more than 425,000 barrels of oil per day
•    India is one of the largest foreign investors in Iran's oil and gas industry.

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