PM: Azerbaijan's foreign policy prioritizes cooperation with Caspian littoral states

Cooperation with the Caspian littoral states has a special place in Azerbaijan's foreign policy strategy, Prime Minister Ali Asadov has said.

He made the remarks at the 2nd Caspian Economic Forum in Moscow on October 6, Report informs citing the Cabinet of Ministers.

He characterized the Convention on the Legal Status of the Caspian Sea, signed in Aktau on August 12, 2018, as a key document for the comprehensive cooperation of the Caspian littoral countries and expressed confidence that it will significantly contribute to future cooperation in all fields in the Caspian Sea.

Asadov added that the Caspian littoral states have an opportunity to increase cooperation in the field of energy.

He noted that hydrocarbon production was successfully carried out in the Azerbaijani sector of the Caspian Sea and noted that Russian and Iranian companies were also involved in this process.

The prime minister also stressed the agreement reached between Azerbaijan and Turkmenistan on the joint exploration and development of the Dostluq hydrocarbon field in the Caspian Sea.

Asadov pointed out that Kazakhstan and Turkmenistan use Azerbaijan's transport and pipeline infrastructure to transit their energy sources.

The PM described as gratifying the fact that the pandemic weakened and that Azerbaijan's trade turnover with the Caspian littoral states returned to the growth trajectory.

He added that in eight months of this year, trade between Azerbaijan and Caspian region countries increased by more than 45 per cent compared to the same period last year.

Referring to the economic indicators of Azerbaijan, the PM noted that according to the results of eight months of the current year, economic growth is observed in the country, and positive dynamics in the field of foreign trade are maintained.

"Cargo transportation through the East-West and North-South international transport corridors via Azerbaijan territory is increasing yearly. Thus, during the eight months of this year, the transit cargo transportation through our country on the East-West corridor increased by 20 per cent, and on the North-South corridor by 33 per cent," Asadov said.

According to him, the increasing importance of the Caspian region as a component of international transport corridors also implies the optimisation of the role of seaports: "In this regard, work is being done to increase the cargo handling capacity of Baku port from 15 million to 25 million tonnes per year."

Iran's First Vice-President Mohammad Mohber, Russian Prime Minister Mikhail Mishustin, Kazakh Prime Minister Alikhan Smailov and Turkmen Deputy Prime Minister Khojamurad Geldymuradov are taking part in the forum along with Asadov.

The forum participants first held talks in a narrow format, during which they summed up the results of the sixth Caspian summit held on June 29 in Ashgabat.