Detailed preparation for holding the First Caspian Economic Forum, which will be held on August 12, 2019 in the Avaza national tourist zone, has begun in Turkmenistan. Organizational and analytical work is concentrated in the Coordination Center of the Ministry of Foreign Affairs of Turkmenistan, the website of the Foreign Ministry reports.

The first such forum in history within the largest region of the world, which is the Caspian basin, was initiated by the President of Turkmenistan Gurbanguly Berdimuhamedov during the IV Summit of the Heads of the Caspian littoral states held on September 30, 2014 in Astrakhan (Russian Federation).

The upcoming Forum is one of the starting events of a strategic nature in the recent history of relations between the Caspian countries, due to the Convention on the Legal Status of the Caspian Sea signed on August 12, 2018, the Foreign Ministry of Turkmenistan said.

The agenda of the Forum will cover a wide range of issues that will later form the basis of promising areas of interaction between the participating States. For the exchange of views and constructive discussion, such topical topics as the intensification of trade and economic relations, the creation of conditions for the development and implementation of large projects will be proposed.

Discussions are also planned on the role of the economy of the Caspian region in a global context, increasing the growth factors of investment attractiveness in the fields of industry, energy, trade, tourism and other industries of the Caspian littoral states of mutual interest.

The forum will serve as an exchange of views on the implementation of intergovernmental agreements of the Caspian states on trade and economic cooperation and partnership in the field of transport, which were signed on August 12, 2018 at the end of the V Summit of the heads of the Caspian states.

Along with the main events, the programs of the International Conference and the Caspian Exhibition of Innovative Technologies are also being worked out. It also provides for the creation of favorable conditions for meetings and negotiations on the margins of the Forum of representatives of states, business circles and companies.

Delegations of the Caspian states are invited to participate in the Forum, including leaders and members of governments, heads of coastal regions and heads of regional executive bodies, representatives of the banking sector, business circles of the Caspian region and interested countries, scientists, and economic activity in the Caspian Sea. Delegations of other interested parties, primarily those close to the Caspian region, as well as representatives of international economic and financial organizations are also invited to the Forum.

The upcoming event is intended to give a powerful creative impetus to economic, trade, investment cooperation in the Caspian Sea and in the adjacent regions, turning the Caspian Sea into one of the largest transport and transit hubs of international importance.

Having acted as the initiator and organizer of the First Caspian Economic Forum, Turkmenistan in practice confirms its adherence to the policy of broad international cooperation in the Caspian Sea, its transformation into a space of peace, security and sustainable development.