Iran's Foreign Minister Kamal Kharrazi on Monday said that the proposed 4.5 billion dollars project of Iran-Pakistan-India gas pipeline would help unleash renewed impetus to regional co-operation. "Laying the Iran-Pakistan-India gas pipeline would be the best and most desirable step towards enhancing co-operation between Iran and India." Kamal Kharrazi said while addressing a joint business council meeting hosted by Federation of Indian Chambers of Commerce and Industry here (FICCI).

The foreign minister is on a three-day official visit to India to attend 14th India-Iran Joint Commission meeting.

During his stay, Kharrazi will call on Prime Minister Dr Manmohan Singh and hold parleys with External Affairs Minister K. Natwar Singh on wide range of bilateral, regional and international issues of mutual concern.

The Indian government's recent approval for the gas pipeline "has created an encouraging atmosphere for pushing ahead this highly important project, which, no doubt would have positive impact on the regional convergence," observed the visiting foreign minister.

Kamal Kharrazi also announced a three-year multiple visa facility to Indian investors and a long-term stay permit.

He termed as an important outcome the signing of strategic agreements earlier this year on Iran selling 7.5 million tonnes of LNG a year to India for 25 years and India's participation in developing Iranian oil fields and extracting 100,000 barrels of oil per day.

Copyright Associated Press of Pakistan, 2005