The forum, which began on Monday in Tehran, is being attended by the heads of transportation and trade organizations, entrepreneurs, and company representatives from Azerbaijan, Iran, Russia, Turkmenistan, and Kazakhstan, according to The Caspian Post.

The forum's goal is to improve economic, trade, scientific, and technological cooperation among the Caspian littoral states. Energy, finance, tourism, healthcare, free trade zone investments, and logistics are among the main topics covered.

According to reports, representatives from the five Caspian littoral states will sign a final declaration outlining steps to improve cooperation and put agreements into effect through regular ministerial meetings.

"The Caspian Economic Forum offers an important platform for the Caspian littoral states to further strengthen mutually beneficial cooperation. Economic cooperation among these states, which have a population of over 300 million people and a trade turnover of 700 billion dollars, is in the interest of the states and peoples", said Iranian First Vice President Mohammad Reza Aref in his speech at the Third Caspian Economic Forum.

In August 2018, in Kazakhstan, an agreement on trade and economic cooperation in the Caspian Sea was signed. The Caspian Economic Forum will be held periodically in each of the coastal nations, according to Article 5 of the agreement. In August 2019, in Avaza, Turkmenistan, the First Caspian Economic Forum and Exhibition took place. The second forum was held in Moscow in October 2022.

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