BAKU, Azerbaijan, February 18. The III Caspian Economic Forum has been held in Tehran, Trend reports.
The forum participants first visited the House of Innovations and Technologies as part of the Tehran International Exhibition.
Following this, the heads of government of the Caspian Sea countries held talks in a limited format. The talks focused on several important issues regarding the five-party cooperation in the Caspian Sea.
Later, the plenary session of the III Caspian Economic Forum was held.
In his speech, Azerbaijan's Prime Minister Ali Asadov stated that the Caspian Economic Forum is an important platform for discussing current issues of economic and trade cooperation among the Caspian Sea countries.
He pointed out that the Joint Communique of the Second Forum, held in Moscow in 2022, confirmed the parties' interest in increasing trade turnover, enhancing the region's investment attractiveness, and strengthening the economic competitiveness of the Caspian Sea countries.
Asadov emphasized that economic and trade cooperation between Azerbaijan and the Caspian Sea countries is dynamically developing.
"It is gratifying to note that Azerbaijan's trade turnover with the Caspian countries has increased by more than 6 percent by the end of 2024," the official explained.
Noting the importance of entry into force in 2023 of the Agreement on Economic and Trade Cooperation between the governments of the Caspian littoral states, signed in Aktau in 2018, Asadov expressed confidence that the implementation of this agreement will contribute to the development of practical activities in trade, industry, agriculture, tourism, and other sectors.
Meanwhile, it was highlighted that today, there are several formats and mechanisms for mutual activities at various levels between the Caspian Sea countries, a solid legal framework for sectoral cooperation is being established, and serious work has been done on the implementation of decisions and agreements accepted at the highest level.
"Undoubtedly, the Convention on the Legal Status of the Caspian Sea, signed in Aktau in 2018, is the foundational document for comprehensive cooperation in the Caspian Sea," the prime minister added.
After the Second Forum, important agreements were reached that created favorable conditions for transforming the region into a major international transport hub with a developed infrastructure in the transport sector.
Participants of the forum were informed about Azerbaijan's role in the development of international transport corridors "East-West" and "North-South", which cover the interests of all countries in the region.
Moreover, It was emphasized that considering the increase in cargo transportation through Azerbaijan's territory, the country is investing additional funds to increase the throughput capacity of these corridors through the modernization of transport infrastructure.
"We believe that the Caspian Sea countries should continue their efforts to ensure that the Caspian remains a sea of peace, harmony, good neighborliness, and effective international cooperation. This primarily requires decisive actions from us to ensure security and stability in the Caspian Sea," said the prime minister.
Touching upon the additional prospects opened by the implementation of projects in green energy and digital technologies, Asadov noted that cooperation in these crucial areas provides a stable and environmentally safe future for the region.
"In this regard, I would like to note the significance of the COP29 climate conference, which was held for the first time in our region. The holding of such a landmark international event confirms the Caspian region's importance in the global climate agenda and helps actively attract investments in environmentally clean technologies and sustainable development," the government leader added.
Furthermore, it was noted that the current state of the Caspian Sea's environment is causing serious concern among the Caspian Sea countries, and a unified approach is required to solve the Caspian's ecological problems.
"The issue of the Caspian Sea's shallowing became a topic of comprehensive discussion at the VI Caspian Summit. To identify the causes and determine measures to prevent further shallowing, President Ilham Aliyev of Azerbaijan proposed the establishment of an expert group," Asadov said.
It was expressed hope that all the necessary agreements for organizing the first meeting of the working group in Baku will be completed soon.
A Communique of the III Caspian Economic Forum was adopted after the plenary session.
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