Iranian President Hassan Rouhani and Indian Prime Minister Narendra Modi on Sunday stressed on the need for strengthening and developing mutual economic and political cooperation.

The two leaders on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Qingdao, China, stressed the need for strengthening and developing mutual economic and political cooperation and discussed other issues of mutual interest.

Iranian President Hassan Rouhani emphasised that the Islamic Republic welcomes development and deepening of the inclusive relations with India as a friend country in the region and is ready for strategic cooperation with the country.

Meanwhile, Rouhani expressed satisfaction over the growing Tehran-New Delhi relations and welcomed India’s active participation in the development project of Chabahar Port.

“Chabahar Port, as the bridge between India to Afghanistan and Central Asia to Eastern Europe, can strengthen the historical and commercial relations between the two countries and the region more than ever”, Iranian President noted.

Referring to the importance of the role of banking cooperation in developing economic relations, Rouhani emphasised that the implementation of the recent agreements between the two countries in New Delhi should be accelerated and described the implementation of these plans as a step towards further development of relations between the two countries.

India's Prime Minister Narendra Damodardas Modi referred to the quick process of the development of Tehran-New Delhi relations, saying that his country is determined to develop inclusive relations with Iran.

The Indian Prime Minister also highlighted the importance and special status of the Chabahar Port for the development of regional cooperation.