What is Ashgabat Agreement?
- Ashgabat Agreement envisages facilitation of transit and transportation of goods between Central Asia and the Persian Gulf to significantly boost up trade and investment.
- Signed in 2011 in Ashgabat
- Qatar had withdrawn from the agreement in 2013
- It forms the basis for developing the shortest trade route/corridor between the Central Asian countries and Iranian and Omani ports.
- India has joined this agreement.
- Pakistan is also its member since October 2016.
What are the benefits?
- It will be an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf.
- 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 synchronise with our efforts to implement the International North South Transport Corridor (INSTC) for enhanced connectivity.
- This move will further strengthen trade ties between India and the Eurasian region.