Leaders of five Caspian states sign regional constitution - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Leaders of five Caspian states sign regional constitution

MOSCOW/AKTAU, Kazakhstan, Aug 13 (PRIME) -- The leaders of the five Caspian states including Russia signed a convention on the seas legal status at a summit in Kazakhstans city of Aktau, the Kremlin said in a statement on August 12.

The issue had been discussed for 22 years, and Kazakhstans President Nursultan Nazarbayev called it the Caspian Sea Constitution which is to guarantee the regions security.

The document envisages that most of the seas water surface will remain in shared use of the members while the seabed and the subsurface resources will be divided by neighboring states into sections basing on the international law.

Maritime traffic, fish catching, scientific researches and laying of main pipelines will be performed according to the rules agreed by the parties. The environmental factor is obligatory for consideration while implementing large-scale offshore projects.

The convention prohibits any military presence of third states. It makes the five states responsible for the regional security and envisages that none of them will have the right to grant their territories as a platform for military aggression against a member state by a non-regional player.

The Caspian states will define the combined limit of fish catching in the sea and the national quotas. President Vladimir Putin said Russia supports prolongation of the current sturgeon catch moratorium.

The states will also have the right to build artificial islands in the sea.

The parties agreed to establish a permanent consultation mechanism involving deputy foreign ministers which will meet at least once a year. The first meeting of the body will take place no later than in six months.

The states also established the Caspian Economic Forum which will be held once a year with the first summit scheduled to take place in Turkmenistan in 2019.

Besides the convention, the members signed six agreements in the spheres of transportation, economic and trade cooperation and prevention of sea accidents.

Putin said that it is also important for the members to design a marine transport agreement and agree on measures to fight drug trafficking in the region.

He added that the launch of the International NorthSouth Transport Corridor, which implies connection of railroads of Azerbaijan, Iran and Russia, will speed up cargo deliveries from Europe to Central Asia and the Middle East 2.5-fold.

End

13.08.2018 09:09
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 78.0753 +0.3224 22 sep
USD 66.2497 -0.2228 22 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1149.53 +0.78 18:50 21 sep
micex 2426.80 +1.08 18:50 21 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 158.64 +2.78 18:49 21 sep
lkoh 4737.50 +0.78 18:49 21 sep
rosn 440.40 +0.39 18:47 21 sep
sber 193.44 +1.19 18:49 21 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 78.0275 -0.1025 14:59 21 sep
USDTD 66.5250 -0.2275 17:44 21 sep