Future Trends in Caspian Littoral States Five-Side Economic Cooperation

Abstract

Until lately economic relations of Caspian littoral states were mainly developed on bilateral basis. Level of five-lateral cooperation evidently because of various reasons didn’t match
the intensity in political dialogue and dynamics of communication in different other segments.
Focus on oil and gas sector and aspiration for separation were dominating. Still possible formats
of All-Caspian interaction have been discussed since the Second Caspian Summit 2007. While
experience of successful co-working and mutual trust were growing, with new priorities in economic development set (first of all - transport and infrastructure) the Caspian Littoral States started seeking for a suitable common platform. A new chapter for the “Caspian Five” in this segment
was open with the Convention on the Legal Status of the Caspian Sea signed at the highest level
in August 2018, as well as intergovermental Agreements on cooperation in trade, economic and
transport fields. Decision to organize the first Caspian Economic Forum in Turkmenistan on August, 12 this year under participation of governments’ members and business delegations of the
littoral states is significant. Cooperation in this format can bring a good synergy.