Singapore plans to create a transport corridor between South and Central Asia using the Iranian port of Chabahar, The Economic Times reported on May 29.
According to the publication, the President of Kazakhstan is visiting Singapore and the issue of the trade and transit corridor has occupied an important place in his dialogue with the host country. Kazakhstan and Uzbekistan intend to use the Chabahar port to enter the Indian Ocean region and the Indian market, the publication notes.
It should be noted that Singapore signed a free trade agreement (FTA) with the Eurasian Economic Union (EAEU) in 2019. In May 2023, during the visit of the head of Singapore to Kazakhstan, the countries decided to create a trade and transit corridor between they.
The publication notes that Kazakhstan is developing a trans-Caspian international transport route that will connect the vast markets of Asia and the EU. Cooperation between Kazakhstan and Singapore can help both countries improve the efficiency of transport connections in Asia, according to people familiar with the dynamics of transport corridor development.
Let us remember that on May 13, the agreement to manage the Chabahar port for 10 years was signed between Iran and India. Under the terms of the agreement, India Ports Global Ltd (IPGL) plans to invest around $370 million in the development of the port.
The port is India’s key link with Afghanistan, Central Asia and the greater Eurasian region. It is planned to connect Chabahar port with the North-South international transport corridor, which connects India with Russia via Iran.
Source: Rossa Primavera
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