The Ashgabat Agreement came into force in April 2016.
- Its objective is to enhance connectivity within the Eurasian region and synchronize it with other regional transport corridors, including the International North–South Transport Corridor (INSTC).
- The Agreement was first signed by Uzbekistan, Turkmenistan, Iran, Oman and Qatar on 25 April 2011.
- Ashgabat Agreement is an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf.
- The Ashgabat Agreement aims to develop the shortest trade route between Central Asian countries and Iranian and Omani ports.
- While Qatar subsequently withdrew from the agreement in 2013, Kazakhstan and Pakistan joined the grouping in 2016.
Significance for India:
- It will enable India to utilize the existing transport and transit corridor to facilitate trade and commercial interaction with the Eurasian region.
- It would synchronize India’s efforts to implement the International North-South Transport Corridor (INSTC) for enhanced connectivity.