India has joined Ashgabat Agreement on the establishment of an International Transport and Transit Corridor between the Iran, Oman, Turkmenistan and Uzbekistan. The agreement was signed in April 2011, which envisages facilitation of transit and transportation of goods between Central Asia and the Persian Gulf.
External Affairs Ministry said the accession to the Agreement would diversify India’s connectivity options with Central Asia and have a positive influence on its trade and commercial ties with the region. Turkmenistan, as depository state of Ashgabat Agreement, informed India yesterday that all the four founding members have consented to the Accession of India.
India’s accession to the agreement will come into force on 3rd of this month. India had deposited the Instrument of Accession with Turkmenistan in April 2016.
The Union Cabinet, chaired by the Prime Minister Narendra Modi, had given its approval for India to accede to the Ashgabat Agreement on March 23, 2016
The Ashgabat Agreement has Oman, Iran, Turkmenistan and Uzbekistan as founding members. Kazakhstan has also joined this arrangement subsequently. Accession to the Agreement would enable India to utilise this existing transport and transit corridor to facilitate trade and commercial interaction with the Eurasian region. Further, this would synchronise with our efforts to implement the International North South Transport Corridor (INSTC) for enhanced connectivity.
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