New Delhi: Iran government has said that it is ready to sign a long-term contract with India on developing the Chabahar port in order to realise its true potential in the coming years.

Rostam Qasemi, the Iranian Minister of Roads and Urban Development, expressed Tehran's intention during his meeting with visiting India's Minister of Ports, Shipping and Waterways, Sarbananda Sonowal in Tehran earlier this week.

India was referred to by Qasemi as an "important and big country" that might be crucial in the movement of products in the area. He also hoped that the two nations' relations will result in investment in the Chabahar port.

Sonowal referred to the similarities in culture, history, and civilisation between Iran and India and reaffirmed the role of Chabahar port, India's first overseas port project, as a trade multiplier as it can significantly shorten the route, cut down on transportation costs, and speed up delivery times.

The port's increasing potential as a quick and affordable commercial route connecting Central, South, and South-East Asia has yet to be completely realised. he said, adding that if the Chabahar's full potential is realised, it has the potential to soon become one of the most significant ports in the world in addition to serving as India's commercial route to Europe, Russia, and the CIS.

Sonowal visited Chabahar and met Iranian Vice President Mohammad Mokhber during his three-day trip. The foremost Iranian lawmaker stated that Chabahar will considerably improve the region's commercial exchange and transit of the International North-South Transport Corridor (INSTC).

Mokhber specifically emphasised that the volume of investments and commercial and economic exchanges between the two countries are not commensurate with the deep and long-term political relations, reiterating that Tehran supports the implementation of agreements and commercial relations with New Delhi.

During Sonowal's visit, a Memorandum of Understanding (MoU) on the Recognition of Certificates of Competency in Unlimited Voyages was also signed to facilitate the mobility of seafarers from both countries.

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