Iran planning to boost economic relations with Caspian Sea nations

A senior Iranian trade official has underlined the country’s resolve to boost trade ties with all the neighboring countries, especially the Caspian Sea littoral states.

Head of the Trade Development Organization of Iran Valiollah Afkhami Rad said that many countries have thus far expressed willingness for expansion of cooperation with Iran, and the country is determined to seize this good opportunity and boos trade ties with them, especially with neighboring states in the Caspian Sea.

The Caspian Sea’s large fish resources and oil and gas deposits have made it a subject of territorial negotiations among the five states that include Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan.

The leaders of Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan met in Astrakhan, Southern Russia, on September 29 for the 4th Caspian Summit which focused on key issues concerning cooperation among countries bordering the Caspian Sea, as well as implementing decisions approved at the previous summit in Baku in 2010.

Multilateral agreements were also signed at the summit.

The Caspian Sea is the largest enclosed body of water by area, and is variously classed as the world’s largest lake or a full-fledged sea.