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India to accede to the Ashgabat Agreement

India to accede to the Ashgabat Agreement .

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The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for India to accede to the Ashgabat Agreement, an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf. .

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The Ashgabat Agreement has Oman, Iran, Turkmenistan and Uzbekistan as founding members. Kazakhstan has also joined this arrangement subsequently. 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. .

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Indias intention to accede to the Ashgabat Agreement would now be conveyed to the Depository State (Turkmenistan). India would become party to the Agreement upon consent of the founding members. .

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First Published: Wed, March 23 2016. 00:20 IST