This trilateral cooperation aims to restore the balance of power in the South Caucasus after the Second Karabakh War and may counter the alliance between Pakistan, Turkey, and Azerbaijan.
In such circumstances, Iran is trying to emphasize the common needs and approaches of Armenia and India regarding the Persian Gulf–Black Sea Corridor, in parallel to the development of transit and trade along the INSTC . Tehran was chosen as the “trustee of the agreement,” responsible for coordinating demands and finalizing documents for the national parliaments of the other five countries involved in the Persian Gulf–Black Sea Corridor .
Parallel to the participation of Russia and China in the Chabahar Port project, including investments in both the Shahid Beheshti and Shahid Kalantari parts of the Chabahar Free Trade–Industrial Zone , which have grown since the war in Ukraine began, Armenia has also shown more attention to this Iranian port project in further developing transit and trade with India.
Additionally, on May 25, Iran announced the establishment of the joint free trade zone of Aras and Meghri . Therefore, deepening trade and commerce ties between India, Iran and Armenia, as opposed to the Zangezur Corridor, will focus on developing the INSTC and the Persian Gulf–Black Sea Corridor, as both will ostensibly pass through Syunik province.
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