Kazakhstan hopes to implement joint projects with the countries of the "Caspian Five"

Kazakhstan's foreign Ministry expects that Russia and Iran will ratify the Convention on the status of the Caspian sea by the end of 2019. This was stated on Tuesday by the Minister of foreign Affairs of Kazakhstan Beibut Atamkulov at a meeting of the high-level working group on the Caspian sea in Nur Sultan, reports TASS.

"The key to our success is the effective implementation of the agreements and instructions of the heads of state on the results of the Fifth caspian summit. Of course, this will be facilitated by the early ratification of the Convention and its entry into force. To date, Kazakhstan, Azerbaijan and Turkmenistan have already ratified the Treaty. We hope that the relevant domestic procedures in Iran and Russia will be completed by the end of this year," Atamkulov said.

He also noted that in order to fully implement the provisions of the Convention regarding the delimitation of the sea area, it is necessary to "complete the development and conclude a five-party agreement on the method of establishing direct baselines on the Caspian sea" as soon as possible.

"The Aktau Convention and the documents signed within the framework of the Fifth Caspian summit laid a solid Foundation for the development of trade and economic cooperation and contribute to the improvement of the investment climate in the region. We hope that, using the existing tools, the parties will make coordinated efforts to create favorable conditions for the implementation of joint projects, including in the oil and gas, transport and tourism sectors," Atamkulov said.

According to him, it is necessary to make full use of the agreements on freedom of transit and freedom of navigation to "develop the existing transit and transport potential on a mutually beneficial basis and turn the region into a significant international transport and logistics hub with modern infrastructure and a high level of interaction."

Delegations from Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan take part in the negotiations.

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