Astrakhan to hold Caspian-littoral countries business forum

Astrakhan to hold Caspian-littoral countries business forum

Baku, Azerbaijan, Sept. 6

By Zulfiyya Kurbanova - Trend:

Astrakhan will hold a five-sided Russia-Azerbaijan-Iran-Kazakhstan-Turkmenistan Business Forum Sept. 29, said a statement posted on the website of the Azerbaijani Fund of Export and Investment Promotion (AZPROMO).

"The event will be supported by the Ministry of Economy and Industry of Azerbaijan and AZPROMO organization within the framework of the fourth summit of the heads of Caspian-littoral states. Azerbaijani entrepreneurs are invited to participate in this event," the statement said.

The statement notes that Azerbaijani entrepreneurs will have the opportunity to establish business contacts and find business partners within the framework of the event which will be held with the participation of the companies representing the Caspian-littoral countries.

The trade turnover between Azerbaijan and Russia in January-July 2014 amounted to $1.086 billion, while turnover of Azerbaijan with Iran reached $114.65 million, with Kazakhstan - $175.93 million, and with Turkmenistan - $22.37 million, according to the State Customs Committee (SCC).

Agreement to hold the summit of heads of the Caspian littoral states in Astrakhan Sept. 29 was reached by the countries in March this year.

Coastal states (Azerbaijan, Kazakhstan, Russia, Turkmenistan and Iran) signed the framework convention for the protection of the marine environment of the Caspian Sea in November 2003.

In July 1998, Russia and Kazakhstan have signed an agreement on the delimitation of the northern part of the Caspian Sea in order to implement sovereign rights for subsoil use, and the protocol to this agreement was signed May 2002. Agreements on the delimitation of the Caspian Sea between Kazakhstan and Azerbaijan and the protocol were signed November 29, 2001 and February 27, 2003 respectively.

Also, an agreement on the delimitation of adjacent sections of the Caspian Sea was signed by Kazakhstan, Azerbaijan and Russia May 14, 2003.

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