Source: News Bharati English23 Mar 2016 18:47:37
New Delhi, March 23: Government on Wednesday approved the decision to accede to the Ashgabat agreement, an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf. The Union cabinet chaired by the Prime Minister Narendra Modi took the decision.
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 synchronize with India’s efforts to implement the International North South Transport Corridor (INSTC) for enhanced connectivity. India’s intention to accede to the Ashgabat agreement would now be conveyed to the Depository State which is Turkmenistan. India would become party to the agreement upon consent of the founding members.