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India, Iran and Armenia form trilateral grouping
Context
In a move aimed at strengthening regional cooperation, India, Iran, and Armenia have formed a trilateral grouping.
About the grouping
- This trilateral grouping is expected to open up opportunities in different areas for cooperation including energy, transportation, trade, investment, and transportation.
Key highlights of the first-ever meeting
- The first-ever meeting focused on connectivity, especially the International North-South Transport Corridor (INSTC).
- INSTC was initially signed by Iran, Russia, and India in 2002 and has since then expanded, and a freight corridor connecting which is expected to connect three countries — India, Iran, and Russia.
- The main aim of this corridor is to reduce time and costs in the movement of goods from Mumbai to Moscow.
- The focus of the three sides during the meeting was on economic issues and regional communication channels.
- They also talked about trilateral cooperation in various fields as well as a further deepening of people-to-people and cultural contacts.
Focusing on the relationship
- Iran and Armenia
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- Iran and Armenia, which share a border, also have robust ties.
- Last year, Iran opened a consulate in Armenia’s Kapan.
- The two countries have also been working together to enhance trade and economic cooperation.
- India and Iran
- India and Iran also have historic ties, with the two countries sharing a common cultural heritage.
- The Chabahar port in Iran has been key to connectivity between the two sides. India has provided equipment worth $25 million to aid in the development of the port, including six mobile harbor cranes.
- The port has the potential to serve as a gateway for India to access Central Asia and Afghanistan, while also providing Iran with an alternative trade route to the Persian Gulf.
- Iran and Armenia
- Iran and Armenia, which share a border, also have robust ties. Last year, Iran opened a consulate in Armenia's Kapan.
- The two countries have also been working together to enhance trade and economic cooperation with Armenia serving as a transit route for Iran to access the Eurasian Economic Union.
- The trilateral grouping between India, Iran, and Armenia is expected to pave the way for greater cooperation in a range of areas, including trade, investment, energy, and transportation.
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