Iranian president pledges to stick to nuclear deal commitments

India and Iran sign Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion with respect to taxes on income

Double Taxation Avoidance Agreement to Give Fillip to India, Iran Trade

Officials in the Ministry of External Affairs said both the sides were for reaching a conclusion on the Farzad-B gas field issue soon.

India and Iran on Saturday signed nine pacts, the most consequential of which will allow India to lease part of the strategic Chabahar port, near the mouth of the Gulf of Oman.

Other pacts included ratification of almost a decade-old extradition treaty, exemption from visa requirement for holders of diplomatic passports, traditional systems of medicine and establishment of an expert group on trade remedy measures.

Pradhan said India had also sought a stake in Iran's South Azadegan oil field. For trade and investment, the two leaders recognised the need to put in place an effective banking channel. "Taking into account our mutual benefits, we are both committed to stop the forces of terrorism, extremism, illegal drug trafficking, cyber crime and other global crimes", Modi said.

Rouhani also underscored that at the time of formation of the United Nations (UN), only countries that had a nuclear bomb were given the right to veto, adding that, "If it was based on fairness, it would not have been so".

The port in the Sistan-Balochistan province on the energy-rich nation's southern coast is easily accessible from India's western coast and is increasingly seen as a counter to Pakistan's Gwadar Port, which is being developed with Chinese investment and is located at distance of around 80 km from Chabahar.

The two leaders emphasised on terrorism, they urged an immediate end on to all support and sanctuaries which are enjoyed by terror outfits.

According to Deepak Mittal, Joint Secretary (Pakistan, Afghanistan, Iran), the two sides shared their concern over terrorism and agreed that this global menace can not be linked to any religion.

"Addressing a joint press event with the visiting Iran President Rouhani, Modi said the visit by the Iranian president shows how the two sides want to deepen cooperation in key areas, including connectivity".

"Today, we are witnessing the development of Chabahar Port and a momentum in the construction of Chabahar railway to Zahedan with India's investment", Rouhani said, asserting that ties between the two countries are going to intensify further.

"We believe that the various issues of the region, especially in Syria, Iraq and Yemen, should be resolved through political initiatives", he said. Apart from discussing the major collaboration between two countries in form of Chabahar Port, they talked about strengthening the cultural and diplomatic ties.

Both sides also "expressed interest in enhancing cooperation possibilities in maritime domain" and "it was agreed to hold dialogue to look into measures for cooperation in defence sphere, including port calls by naval ships, training and regular exchanges of defence delegations".

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