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Azerbaijan has significantly increased trade turnover with the countries of the Caspian region

Caucasus (bbabo.net), - Cooperation with the Caspian states occupies a special place in the foreign policy strategy of Azerbaijan, Prime Minister of the Republic Ali Asadov said today, October 6, speaking at the plenary session of the 2nd Caspian Economic Forum in Moscow.#

The head of the Azerbaijani government noted that the interaction of the Caspian states is based on mutual consideration of interests, respect for sovereignty, territorial integrity, independence, as well as non-interference in each other's internal affairs.

Pointing to a solid contractual and legal framework for sectoral cooperation between the Caspian states, Asadov said that it covers many areas, including security, trade and economic cooperation, transport, environmental issues, as well as other areas of mutual interest.

In this regard, the Convention on the Legal Status of the Caspian Sea, signed on August 12, 2018 in Aktau, Kazakhstan, was described as the basic document for comprehensive cooperation of the Caspian countries.

Touching upon the economic indicators of Azerbaijan, the Prime Minister noted that according to the results of 8 months of this year, the country is experiencing economic growth, and positive dynamics in the field of foreign trade is maintained.

“As the pandemic (Covid-19) weakens, Azerbaijan’s trade turnover with the Caspian states has also returned to a growth trajectory,” Asadov said.

In the period January-August 2022, Azerbaijan's trade turnover with the countries of the Caspian region increased by more than 45%, he said.

Drawing attention to cooperation in the transport and transit sector, the prime minister noted Azerbaijan's significant contribution to the implementation and development of the East-West and North-South international transport corridors that pass through the Caspian Sea.

“Through the East-West and North-South corridors, there is an annual increase in cargo transportation through the territory of Azerbaijan. So, for 8 months of this year, transit cargo transportation through our country along the East-West corridor increased by 20%, and along the North-South route - by 33%," the head of government informed.

Asadov called the Baku International Sea Trade Port a key link in these corridors, through which an annual increase in the volume of cargo transportation is observed. The growing importance of the Caspian region as part of international transport corridors also implies an optimization of the role of seaports, he added.

“In this regard, work is underway to increase the transshipment capacity of the Baku port from 15 million to 25 million tons of cargo per year,” the prime minister said.

The first trilateral meeting between Azerbaijan, Russia and Iran, held in Baku on September 9, was regarded as an important step for the development of the North-South international transport corridor.

“As a result of the meeting, the Baku Declaration was signed, in which the parties expressed their readiness to cooperate and assess the possibilities for bringing the level of transit along the North-South corridor to 15 million tons per year by 2030,” Asadov recalled.

The forum participants were informed about the capabilities of the civil cargo fleet of Azerbaijan, as well as the Baku Shipbuilding Plant, and it was brought to their attention that all the Caspian states can use its capabilities.

The Prime Minister further pointed out that "the new realities that have developed after the liberation of the occupied territories of Azerbaijan make it possible to expand the possibilities of transport routes in the region."

“Today we are actively working on the development of regional transport and communication projects. In this sense, the opening of the Zangezur Corridor is of great importance,” he said.

The attention of the forum participants was also drawn to communication projects, within the framework of which fiber-optic cables are being laid from Azerbaijan to Kazakhstan and Turkmenistan along the bottom of the Caspian Sea. It was noted that the other day the leading telecommunication operators of Azerbaijan and Kazakhstan signed in Astana a memorandum on strategic partnership on the relevant project.

It was also pointed out that there are great opportunities for the Caspian states to increase cooperation in the energy sector. Asadov noted the successful implementation of hydrocarbon production in the Azerbaijani sector of the Caspian Sea, adding that companies from Russia and Iran also participate in this process.

The Prime Minister recalled the agreement reached between Azerbaijan and Turkmenistan on joint exploration and development of the Dostlug hydrocarbon field in the Caspian Sea.

Head of the Russian government Mikhail Mishustin, Prime Minister of Kazakhstan Alikhan Smailov, First Vice President of Iran Mohammad Mokhber, Deputy Prime Minister of Turkmenistan Khodjamurat Geldymuradov are participating in the work of the Caspian Economic Forum together with the Azerbaijani Prime Minister.

Azerbaijan has significantly increased trade turnover with the countries of the Caspian region