Russia Attaches Great Importance to CEF – Lavrov

Russia Attaches Great Importance to CEF – Lavrov
Russian Foreign Minister Sergey Lavrov

The Russian side hopes that the First Caspian Economic Forum, scheduled for August 12 in Turkmenistan, will give further impetus to trade, investment and tourism cooperation between the Caspian states, Russian Foreign Minister Sergey Lavrov said in an interview with Foreign Policy and Diplomacy of Turkmenistan journal.

“The solution to the issue of economic development of the Caspian region on regional and mutually beneficial base gains new relevance after the endorsement of the Convention on the Legal Status of the Caspian Sea in August 2018,” the diplomat said.

He further noted that the value of this international agreement is also based on the fact that it creates the necessary legal conditions for the growth of cooperation in trade-investment and transport spheres.

The agenda of the forum, scheduled for August 11-12 in Avaza National Tourist Zone, includes discussions covering the role of the economy of the Caspian region in a global context, investment attractiveness in oil and gas, electric power, transport, trade, agro-industrial, tourism sectors of the economies of the Caspian countries.

“I am confident that the First Caspian Economic Forum will give additional impulse to the collaboration in such spheres as trade, investments and tourism that will contribute amongst others to the transformation of the Caspian into one of the world’s largest transport and transit hubs,” the top Russian diplomat added.

The delegation led by Russian Prime Minister Dmitry Medvedev is going to take part in the first Caspian Economic Forum, the press service of the Russian government said on Friday.