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Prime Minister Narendra Modi held “substantive” talks with Iranian President Hassan Rouhani to boost cooperation in key areas of security, trade and energy, after which the two sides signed nine pacts, including one on double taxation avoidance.

Details

• The two leaders also deliberated on regional situations during their wide-ranging talks.
• Iranian President Hassan Rouhani on Saturday said India and Iran have a “common stance” in effectively dealing with terrorism and extremism, and called for concerted regional efforts to deal with the challenge.
• Mr. Modi also appreciated the way the Iranian leader provided leadership in developing strategically-important Chabahar Port.
• Apart from tax pact, the two sides also exchanged instrument to ratify the extradition treaty as well as to simplify visa process.
• List of important MoU’s signed:
• Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on Income.
• MoU on Exemption from Visa requirement for holders of Diplomatic Passports.
• Exchange of Instrument of Ratification of Extradition Treaty.
• Lease Contract for Shahid Beheshti Port- Phase 1 of Chabahar during Interim Period between Port and Maritime Organization (PMO), Iran and India Ports Global Limited (IPGL).
• MoU on Cooperation in the field of Traditional Systems of Medicine.
• MoU on the establishment of an Expert Group on Trade Remedy Measures to promote cooperation in areas of mutual interest
• MoU on Cooperation in the field of Agriculture and Allied Sectors.
• MoU on Cooperation in the field of Health and Medicine.
• MoU on Postal Cooperation.

Conclusion

• This recent visit has been of great significance for both countries and will contribute in further strengthening bilateral relations.
• India gained an important lease on the Chabahar port, which will give it a strategin and trade advantage and brings it one step closer to creating the International North-South Corridor.
• It will also help in effectively keeping China’s expansion in the region in check.
• The support of India’s stance on the menace of terrorism in the region by Iran will work as a confidence booster in India and as a deterrent to terrorists and entities supporting them.

Source

PIB, The Hindu