India and Iran signed 9 agreements, reignite age old ties

Today, on 17 February 2018, India and Iran signed 9 agreements.

The two sides signed the agreements after “substantive” talks between Prime Minister Narendra Modi and visiting Iranian President Hassan Rouhani in New Delhi.

9 Agreements are–

1. The avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on Income.

“The pact will avoid burden of double taxation between the two countries in order to promote flow of investment and services.” said Deepak Mittal, joint secretary in charge of Iran in India’s foreign ministry.

2. MoU on Postal Cooperation.

The agreement provides for-

  • cooperation between the two postal agencies including exchange of experience, knowledge and technology in e-commerce/logistics services;
  • cooperation on philately;
  • establishment of working group of experts;
  • feasibility studies on using air and surface transit capacities of both countries.

3. The lease contract for the Shahid Beheshti Port, Phase 1 of Chabahar between Indian company, India Ports Global Ltd (IPGL) and Iran’s Port and Maritime Organization. The pact gives IGPL permission to take over the interim operations of the port at Chabahar for 18 months (one and half solar year).

The $85 million Chabahar port project is just 90 km from the China-sponsored Gwadar port in Pakistan. The port creates a transit route between India, Iran and Afghanistan, bypassing Pakistan.

4. MoU on Exemption from Visa requirement for holders of Diplomatic Passports.

After this agreement, diplomatic passport holders in each country can travel without any visa.

5. Exchange of Instrument of Ratification of Extradition Treaty.

It brings into effect the Extradition Treaty signed between India and Iran in 2008.

6. MoU on Cooperation in the field of Traditional Systems of Medicine.

The purpose of the agreement is

  • to develop and strengthen cooperation in traditional systems of medicine including regulation of teaching, practice, drugs and drugless therapies;
  • facilitating supply of all medicine materials and documents;
  • exchange of experts for training of practitioners, paramedics, scientists, teaching professionals and students and accommodating them in institutions for research, educational and training programmes;
  • mutual recognition of pharmacopoeias and formularies;
  • setting up of academic chairs;
  • provision of scholarships;
  • recognition of traditional preparations on reciprocity basis;
  • permission to practice on reciprocity basis.

7. MoU on the establishment of an Expert Group on Trade Remedy Measures to promote cooperation in areas of mutual interest.

It aims to establish a framework of cooperation in the area of Trade Remedial Measures viz. anti-dumping and counterveiling duty.

8. MoU on Cooperation in the field of Agriculture and Allied Sectors.

This agreement will boost-

  • Bilateral cooperation in the field of agriculture and allied sector including joint activities, programmes,exchange of information and personnel;
  • cooperation in the field of agricultural crops, agricultural extension, horticulture, machinery, post harvest technology, plant quarantine measures, credit and cooperation, soil conservation, seed technology, livestock improvement, dairy development.

9. MoU on Cooperation in the field of Health and Medicine.

The objective of this agreement is-

  • to establish comprehensive inter-ministerial and inter-institutional cooperation between two sides including pooling of technical, scientific, financial and human resources;
  • upgrading the quality and reach of human, material and infrastructural resources in healthcare, medical education, research and training; exchanging experience in training of medical doctors and other health professionals;
  • assistance in development of human resources and setting up of health care facilities;
  • regulation of pharmaceuticals, medical devices and cosmetics and exchange of information thereon;
  • cooperation in medical research;
  • cooperation in public health, Sustainable Development Goals (SDGs) and international health.

Following MoUs between trade bodies have also been signed on the sidelines of the visit:

1. MoU between EEPC India and Trade Promotion Organization of Iran.

2. MoU between Federation of Indian Chambers of Commerce & Industry (FICCI) and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).

3. MoU between the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA).

4. MoU between PHD Chamber of Commerce and Industry (PHDCCI) and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)

Source: PIB

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