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Chairmanship declaration on the results of the first caspian economic forum
15 Aug
Chairmanship declaration on the results of the first caspian economic forum

According to the Ministry of Foreign Affairs of Turkmenistan on the outcomes of the first Caspian Economic Forum, which was held on August 11-12 in the city of Turkmenbashi, a chairmanship declaration was signed. 

The document recommends to hold the Caspian Economic Forums on regular basis in the littoral cities of the Caspian states.

The role of the Convention on the Legal Status of the Caspian Sea signed by the Heads of States of Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan on the results of the Fifth Caspian Summit held in the city of Aktau, Kazakhstan on August 12, 2019 which creates the conditions for the advancement of cooperation between the Caspian region to a qualitatively new partnership level was underlined. 

Recognized that the Agreement between the Governments of the Caspian Littoral States on Trade-Economic Cooperation and the Agreement between the Caspian Littoral States on Cooperation in the field of Transport contribute to further strengthening and development of collaboration between the littoral states in the economic sphere. Noted also that the Caspian Economic Forum platform can become a vital form of cooperation aimed at providing economic growth in the region and beyond its borders.

The necessity of increasing the potential in the area of trade and investment policy, as well as easing the trade process and export supplies potential for the benefit of trade and investments in the Caspian region is highlighted.

It is recognized that the countries of the Caspian region and all the stakeholders, including the private sector, associations and academic circles can maintain active dialogue on the issues of leading practice and measures related to the implementation of goals for ensuring development of economic contacts. The significance of active participation and assistance on the part of international and financial institutions in the development of international economic cooperation in the Caspian was stated.

Based on the above-mentioned it is recommended to take the necessary steps for the enhancement of attractiveness of the Caspian littoral states’ economies with the aim of further active integration of the Caspian region in the international economic space; to encourage the attraction of investments and stimulate innovations in the energy, industry, transport, trade and other spheres of the Caspian littoral states’ economies. 

The document recommend to ensure further strengthening of regional cooperation in such areas as social and economic development, environment protection, science and innovations, exchange of economic information.