The Honorable Prime Minister of India during his visit to Iran (22nd May-23nd May 2016) expressed that there is great synergy between India and Iran. A number of MOUs and Agreements have been signed between the two countries which are expected to generate significant economic benefits for both India and Iran.
The following MOUs/Agreements have been signed between the two countries :
1. India-Iran Cultural Exchange Programme The objective of this MOU is to extend the CEP for the period 2016-2019 covering the areas of culture and art; radio, TV, mass media and cinema; and relevant general and financial terms.
2 MOU between the Ministry of External Affairs (MEA) of India and the Ministry of Foreign Affairs (MOFA) of Iran on Policy Dialogue between Governments and Interaction between Think Tanks The MOU seeks to create a Joint Secretary/Director General policy dialogue as well as encouraging new institutional mechanisms between think tanks on both sides. There is also a provision for a conference on contemporary issues of regional and global significance.
3. Bilateral contract on Chabahar Port for port development and operations between IPGPL [India Ports Global Private Limited] and Arya Banader of Iran The contract envisages development and operation for 10 years of two terminals and 5 berths with cargo handling [multipurpose and general] capacities.
4. MOU between EXIM Bank and Iran’s Ports and Maritime Organization [PMO] on current specific terms for the Chabahar Port project This MOU is intended for the purpose of credit of USD 150 million for Chabahar port.
5. MOU between ECGC [Export Credit Guarantee Corporation] Limited of India and the Export Guarantee Fund of Iran (EGFI) The MOU seeks to establish a framework of cooperation between ECGC and EGFI in supporting and encouraging foreign trade and foreign investment between India and Iran and, where appropriate, the supply of goods and services from their respective countries as part of a project to a third country.
6. MOU between IRCON and Construction, Development of Transport and Infrastructure Company (CDTIC) of Iran MOU will enable IRCON to provide requisite services for the construction of Chabahar-Zahedan railway line which forms part of transit and transportation corridor in trilateral agreement between India, Iran and Afghanistan. Services to be provided by IRCON include all superstructure work and financing the project (around USD 1.6 billion).
7. MOU between Foreign Service Institute, MEA and the School of International Relations, Iran’s MOFA This MOU is intended to enhance cooperation between the two parties for training of diplomats and exchange of eminent speakers.