Trade relations between Caspian littoral countries have potential for development

Trade relations between Caspian littoral countries have potential for development

Baku, Azerbaijan, Sept.25
By Temkin Jafarov - Trend:

Astrakhan region of Russia will hold a meeting of the International Council of Business Cooperation of Commerce and Industry Chambers of the Caspian region countries, the head of Chamber of Commerce and Industry of the Iranian province of Gilan, Hadi Tizhush Taban told Trend Sept.25.

He added that there are favorable conditions and the potential for development of cooperation in trade between the countries of the Caspian region, especially between Azerbaijan and Iran.

He said that the meeting of International Council of Business Cooperation of Commerce and Industry Chambers of the Caspian region countries will be held on September 29 in Astrakhan within the framework of the summit of Heads of State of the region.
The meeting will be attended by representatives of about 50 companies and Chambers of Commerce and Industry from Azerbaijan, Iran, Kazakhstan, Turkmenistan and Russia, Taban said.

He also said that roundtables are scheduled during the meeting.

"The participants will discuss prospects of cooperation in trade and transport, simplification of the customs clearance between the countries of the Caspian region, the issues of reducing the tax and customs duties," the head of the Chamber said.

The trade turnover between Azerbaijan and Russia in January-August 2014 amounted to $1.22 billion, while turnover of Azerbaijan with Iran reached $128.69 million, with Kazakhstan - $181.08 million, and with Turkmenistan - $25.57 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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