The draft agreement on trade and economic cooperation between the Caspian States is being discussed in Ashgabat

On the eve of the regular meeting of representatives of the Caspian States to discuss the draft agreement on trade and economic cooperation between the Caspian States began in Ashgabat. This was reported on the website of the foreign Ministry.

The meeting was organized by the Ministry of foreign Affairs of Turkmenistan, the Ministry of Finance and economy and the state enterprise for the Caspian sea under the President of Turkmenistan. It was attended by heads, leading specialists and experts of relevant ministries and agencies of Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan.

As noted during the meeting, a lot of work has been done over the past period on the practical implementation of earlier agreements. The process of approval of a number of new normative legal documents, which are scheduled to be signed in a five-party format, has progressed significantly. Among them-the Agreement on trade and economic cooperation between the Caspian States, designed to contribute to the comprehensive strengthening and expansion of mutually beneficial economic ties with impressive potential.

As emphasized by the participants of the negotiations, the draft of this Agreement, developed by the Turkmen side, is aimed at enhancing mutually beneficial trade and economic ties between the Caspian countries.

During the meeting, special attention was paid to the initiative of the President of Turkmenistan on the creation of a permanent Caspian economic Forum, designed to become a negotiating platform for representatives of government and business circles of the Caspian States.

During the two-day work, it is planned to discuss the draft Agreement, as well as exchange views and coordinate positions on individual articles of the agreement.

The previous meeting on this issue took place in the Turkmen capital in April 2017. The draft of the discussed document was developed in accordance with the initiative of the President of Turkmenistan, put forward at the IV Summit of the heads of Caspian States, held in Astrakhan (Russia) in September 2014. Then Gurbanguly Berdimuhamedov stressed that in order to move forward the countries of the region need to form a modern legal basis for intergovernmental relations.

The participants of the current meeting noted that the Caspian region in the context of globalization of the world economy plays an increasingly leading role in the Eurasian space as one of the most important geopolitical, trade and economic, energy, transport and communication centers. The establishment of coordinated international cooperation based on clear legal norms and mutual consideration of the interests of the Caspian countries becomes more urgent.

Taking into account the huge natural resource, energy, industrial, transport and transit potentials of the basin States, there are opportunities for a significant increase in economic partnership and bringing it to a qualitatively new level.

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