• Спецпроекты
  • Weather forecast
    • Exchange Rates
    • 424.4
    • 504.6
    • 5.92
  • SEND YOUR NEWS TO US WhatsApp +7 (777) 001 44 99
  1. Main
  2. Learn
  3. Politics
  4. Politics

Nazarbayev suggests creating Caspian free trade zone 01 октября 2014, 14:52

President of Kazakhstan suggested creating a Caspian free trade zone at the 4th Caspian Summit that took place in Russia.
  • Vkontakte
  • Facebook
  • Twitter
  • Одноклассники
  • Telegram
Новостью поделились: человек

Nursultan Nazarbayev, President of Kazakhstan. ©Turar Kazangapov Nursultan Nazarbayev, President of Kazakhstan. ©Turar Kazangapov

Nursultan Nazarbayev suggested creating a Free Trade Zone for Caspian countries, Tengrinews reported from the 4th Caspian Summit in Astrakhan on September 29.

"Given the current state of the world market, we can consider the possibility of rapprochement of our economies and growth of mutual trade. Even before resolving the legal status of the Caspian Sea we can lay the foundation for economic cooperation. I propose considering establishment of a Caspian free trade area. This question can be one of the first substantive debates on the level of our governments," the President of Kazakhstan said.

As for the Convention on the Legal Status of the Caspian Sea, Nursultan Nazarbayev expressed his opinion that its adoption would take place in the near future, laying thereby a solid legal foundation for deepening cooperation in the Caspian region.

"Together we will create a document for the future generations that will firmly entrench relations of friendship and good-neighborliness in the Caspian Sea," Nazarbayev said.

"We are close to establishing a just legal regime on the Caspian Sea. This opens up great prospects in relations of our countries. Important to understand is that the Caspian Sea is a sea of opportunities," Nazarbayev said.

The countries established national sovereignty zones of 15 nautical miles off their coasts. In addition, another 10 nautical miles are to be used for fishing.

Following the talks, the countries also concluded an agreement on cooperation in the field of hydrometeorology of the Caspian Sea, an agreement on cooperation in the field of prevention and liquidation of emergency situations in the Caspian Sea and an agreement on preservation and sustainable use of marine biological resources of the Caspian Sea.

Nazarbayev said that the next Caspian Summit would take place in Kazakhstan.

Reporting by Renat Tashkinbayev, writing by Dinara Urazova

Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan