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Forum of business circles of Caspian Five envisages creation of efficient market

Politics Materials 29 September 2014 13:59 (UTC +04:00)
The agenda of the fourth forum of business circles of the Caspian Sea countries, being held in Astrakhan, includes the issues related to the intensification of trade and economic relations, improvement of the investment climate, expansion of cooperation in industry, energy, agriculture, health care and other spheres.
Forum of business circles of Caspian Five envisages creation of efficient market

The agenda of the fourth forum of business circles of the Caspian Sea countries, being held in Astrakhan, includes the issues related to the intensification of trade and economic relations, improvement of the investment climate, expansion of cooperation in industry, energy, agriculture, health care and other spheres, Russian President Vladimir Putin said in his welcome letter for the forum participants.

The forum is being held on the sidelines of the fourth summit of the Caspian Sea countries to be held on Sept.29. It will focus on defining the legal status of the Caspian Sea.

Putin said the forum envisages the creation of an effective market, RIA Novosti reported.

"You should review the possibilities of creating advanced science-intensive industries, effective transport system, coordinated review of complex measures that would allow to fully reveal the unique potential of the Caspian Sea and to form a capacious and well-functioning market in the region surrounding it," Russian president said.

He said the relations between the Caspian Sea countries are traditionally developing in a spirit of friendship in the business sphere as well.

"I'm confident that the proposals and initiatives that will be put forward during the forum, will allow to strengthen the mutually beneficial multilateral cooperation and to develop direct ties between the business circles of the Caspian Sea countries," Putin said.

For more than 20 years, Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan are in talks on the division of the Caspian Sea shelf.

The previous summit of the Caspian Sea countries was held in Baku in 2010.

Currently, the legal status of the Caspian Sea is regulated by the 1921 and 1940 treaties.

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