Saudi Press

Saudi Arabia and the world
Thursday, Oct 02, 2025

First Caspian Economic Forum discusses regional economic cooperation, infrastructure development

First Caspian Economic Forum discusses regional economic cooperation, infrastructure development

Participants of the Aug. 12 first Caspian Economic Forum discussed economic ties among Caspian littoral countries in trade and tourism as well as infrastructure development around the inland sea.

The forum took place at the Avaza resort in Turkmenistan and gathered more than 3,000 politicians, diplomats, business people, environmentalists, scholars and journalists from around the world. It was the first time representatives of Kazakhstan, Russia, Azerbaijan, Iran and Turkmenistan had met in the five-sided format after signing a convention on the legal status of the Caspian Sea Aug. 12, 2018, in Aktau, Kazakhstan.

“We are all like-minded people, united by the importance of a multifaceted and systemic dialogue on the development of the Caspian region, determining the prospects for international cooperation in the Caspian… Today, the objective interests of not only coastal, but also other states are concentrated here, due to the fact that the Caspian region is a large natural source of hydrocarbon resources, a continental-scale transport and transit hub, a promising territory for expanding international trade,” said President of Turkmenistan Gurbanguly Berdimukhamedov in his welcoming speech, as reported by sng.fm.

At the beginning of the forum, participants visited the International Caspian exhibition of innovative technologies and the Turkmen Sahra 2019 exhibition, where they were able to familiarise themselves with the achievements of modern technologies and the automotive industry at the Turkmenbashi international seaport, noted the Turkmen Ministry of Foreign Affairs.

The meeting of the Caspian littoral countries’ ministers of economy took place at the Berkarar Hotel, where representatives of Azerbaijan, Iran, Kazakhstan, Turkmenistan and Russia discussed cooperation in trade, free trade zones and the regulatory framework.

At a similar meeting of the transport ministers, they discussed developing international freight traffic, increasing exports and diversifying transit freight flows to the markets of other regions.

The countries’ business community representatives discussed import and export possibilities and exchanged experience in oil and gas resources processing.

As a part of the forum, Kazakh Prime Minister Askar Mamin met with Berdimukhamedov to discuss trade and economic cooperation. They emphasised the importance of deepening cooperation between border regions and noted the potential to expand bilateral cooperation in engineering, chemical industry, metallurgy, agriculture, tourism, transport and gas, reported primeminister.kz.

Mamin stressed the need to create conditions to attract investment into the region, including using the Astana International Financial Centre and existing agreements on free trade zones. He made suggestions to improve transport systems and the efficiency of multimodal transportation and to develop tourism in the Caspian Sea.

Mamin also said more work is needed to preserve the Caspian Sea’s ecosystem, including introducing clean technologies through the International Centre for Green Technologies and Investment Projects, established in Kazakhstan on the premises of former EXPO 2017.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
×