India and Iran drop foreign arbitration clause in Chabahar port issue
In a move aimed at boosting India-Iran commercial relations, Tehran and New Delhi have agreed to drop the clause for arbitration in foreign courts concerning the Chabahar port, which had been a hurdle for the framing of a long-term agreement around the facility, the Iran Daily has reported. The development is a major concession to the Ebrahim Raisi government which will now be able to sign a long-term agreement with India concerning the Chabahar port. According to the Ministry of External Affairs, “The two leaders reiterated their commitment to further strengthen bilateral cooperation including to realise the full potential of Chabahar Port as a connectivity hub.” Mr. Raisi met Mr. Modi in Johannesburg on Thursday on the sidelines of the 15th BRICS summit when the two sides expressed commitment to boost ties. Apart from India and Iran, the resolution of the contentious issue will also help sanctions-hit Russia which has been eager to reach the Indian Ocean region through the 13-nation International North South Transport Corridor which passes through Chabahar.
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