India agrees to develop Iranian port as trading hubMay 23, 2016 - 20:48 AMT PanARMENIAN.Net - India agreed Monday, May 23 to finance the development of an Iranian port as a trading hub, as Prime Minister Narendra Modi sought to revive economic ties with Tehran after the lifting of sanctions, AFP reports. The Indian leader met Iranian officials including President Hassan Rouhani during a visit that he said would mark "a new chapter in our strategic partnership." Modi and Rouhani oversaw the signing of a memorandum of understanding for the provision of a line of credit from India's EXIM Bank to develop Iran's southern port of Chabahar, on the Gulf of Oman. Rouhani hailed the project, saying it could become a "great symbol of cooperation between Iran and India," AFP says. Modi's visit, the first by an Indian premier to Iran in 15 years, comes after international sanctions against Tehran were lifted in mid-January following an agreement with world powers over its nuclear program. Modi and Rouhani were joined later by Afghan President Ashraf Ghani, who landed in Tehran Monday morning, to sign a three-way transit accord. The three huddled and clasped hands gleefully like teammates after signing the accord. Related links: Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Armenian delegation participating in NATO PA session The delegation is headed by Andranik Kocharyan, the chairman of the standing committee on defense and security matters. Schengen visa cost won’t change for Armenia – diplomat The increase in the cost of a Schengen visa will not apply to citizens of Armenia, a Foreign Ministry spokesperson has said. Yeremyan Projects opens state-of-the-art dairy production plant Yeremyan Projects officially launched the Yeremyan Products state-of-the-art milk processing plant in Yerevan on May 24. Armenian PM’s helicopter makes emergency landing in Vanadzor The helicopter transporting Armenian Prime Minister Nikol Pashinyan made an emergency landing in Vanadzor. |