At the III Economic Forum of Prime Ministers of the Caspian Littoral States in Tehran, Iran's First Vice President, Mohammad Reza Aref, proposed the creation of free trade zones among the Caspian Sea countries.

According to Aref, all parties can discuss the establishment of such zones and reach a final decision.

"We believe that cooperation between the Caspian countries and the decision of the five states will allow for the creation of joint free trade zones. The Iranian side has officially sent the littoral states the initial text of a cooperation agreement towards the creation of free trade zones in the Caspian countries" he noted.

Aref also added that Iran proposes the creation of a "Union of Coastal Regions of the Caspian Littoral States," considering the importance of the coastal regions for the development of economic and trade cooperation.

Iran has announced its readiness to organize the first meeting of this Union in 2025 in one of the coastal provinces.

On February 17-18, the Economic Forum of the Caspian States, with the participation of Azerbaijan, Russia, Kazakhstan, Turkmenistan, and Iran, took place in Tehran.

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