Dec 20, 2020 / by OsmondMarketing / No Comments

India, Iran and Afghanistan have also signed an agreement to simplify transit procedures between the three countries. [311] Despite the explicit desire to bypass Pakistan to strengthen economic relations between Iran and India, Indian goods destined for Iran currently do not require transit through Pakistan, as these goods can be exported to Iran via Bandar Abbas, where India currently has diplomatic representation. [321] Bandar Abbas is also considered an important point of the north-south corridor, supported by India and Russia since 2002. [322] [323] Indian goods may also be imported and transported to Iran upon arrival at Bandar-e Emam Khomeyni, near the Iraqi border. April 2015 Pakistan and China have signed an agreement to begin work on the $46 billion in development projects. The CPEC is being heralded as an “economic and development project for the good of the people of the region.” As part of the agreement, India Ports Global will rehabilitate a 640-metre-long container handling system and rebuild a 600-metre-long berth in the port. [304] India also agreed to extend a $400 million credit line for steel imports for the construction of a rail link between Chabahar and Zahedan,[313] while India, IRCON and Iran`s Construction, Development of Transport and Infrastructure Company signed an agreement on the construction and financing of the Chabahar rail line to Zahhar cost $1.6 billion. [314] After the signing of the agreement, Iran`s ambassador to Pakistan, Mehdi Honerdoost, said that the agreement was “not concluded” and that Iran wanted Pakistan and China to be included in the project. [326] Although he clarified that Chabahar Port would not be a rival or enemy of the Pakistani port of Gwadar,[327] he added that both Pakistan and China had been invited to participate in the project prior to India, but neither China nor Pakistan expressed interest in accession. [328] [329] At the southern arrival point of the new Brahma Bahtar-Yarik motorway, the N50 national highway between Dera Ismail Khan and Khyber Pakhtunkhwa and Zhob, in neighbouring Balochistan province, will also be built between Zhob and Quetta. [130] The roadway will consist of a four-lane roadway that spans the 205-kilometre distance between the two cities.

[131] The first part of the N50 to be expanded is the 81-kilometre stretch of the N50 between Zhob and Mughal Kot, with work beginning in January 2016. [132] Construction of this portion is expected to be completed by 2018 at a cost of $86 million. [130] Although the project is seen as an important link in the CPEC`s Western direction,[132] project costs are not financed by Chinese state-run banks, but by the Asian Development Bank under a 2014 agreement that preceded CPEC[133][134] and by a grant from the UK Department for International Development. [135] China-Pakistan Economic Corridor (CPEC), a massive bilateral project to improve infrastructure in Pakistan to improve trade with China and the integration of countries in the region.