An MoU was signed between India and Iran for development and operation of two terminals at Chabahar Port, in May, 2015 and discussions are on for concluding the agreement/contract between the organisations of the two Governments. Discussions have also led to an initial exploration of India taking over the development and operation of Phase II of Chabahar Port.
Both Ministers discussed the need for early conclusion of the India-Iran-Afghanistan Transit Agreement, which will enable the potential of Chabahar Port to be realized.
Both Ministers also discussed the potential of cooperation in road, railways, fertilizers and petro chemical sector on the strength of the foundation of cooperation in Chabahar Port. The importance of concluding the way forward in a time bound manner and follow up with quick implementation is a thought that was shared by both Ministers. A comprehensive view of all the issues will shortly be finalized and discussed between the two sides.