The Caspian littoral states continue the dialogue on trade and economic interaction

The Caspian littoral states continue the dialogue on trade and economic interaction

The third meeting of representatives of the Caspian states, dedicated to developing a legal framework for cooperation in the trade and economic spheres, was held on Monday, March 12th  in the building of the Ministry of Foreign Affairs of Turkmenistan, reports TDH.

Discussing the draft Agreement in this area, delegates see it as an important element in strengthening regional cooperation, which should reach a new level through consensus in key legal issues.

The development of the document is of great importance in the light of the approaching fifth Summit of the Heads of State of the Caspian Region, where the draft Convention on the Legal Status of the Caspian Sea will be considered.

All points to the fact that the countries largely coordinated the key issues of the delimitation of the water area of ​​the Caspian Sea, and the adoption of additional interstate agreements should bring the cooperation of the Caspian states to a new level.

The closer the Summit of the Heads of State, the more vividly are the discussions about Turkmenistan’s accession to the SGC (Southern Gas Corridor), which makes the supply of Turkmen blue fuel to the European Union through the Trans-Caspian pipeline possible.

However, most likely, the document will not affect the energy industry – this issue requires a decision at a higher level. At this meeting, an urgent issue was the establishment of the Caspian Economic Forum, which should become a platform for regular discussion of issues in the field of trade and investment.

It is expected that this event will promote the growth of trade between the Caspian countries, and the expansion of the system dialogue on important issues of multilateral cooperation, which will be built on the basis of the key points of the Agreement on trade and economic cooperation.