Aktau Convention: Increasing profits for all Central Asian countries

The Convention on the Legal Status of the Caspian Sea, signed at the Aktau summit, will help increase the foreign direct investments into the Central Asian region. This opinion is shared by analysts of the Institute of World Economy and Politics under the Foundation of the First President of Kazakhstan. Experts say that the agreement, which is based on the principle of multilateral benefit, not only profits all five littoral countries to the Caspian Sea, but it can also bring real economic benefits to the Central Asian countries.

ZHUMABEK SARABEKOV, EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS:

 - Of course, the signing of the convention can lead to increased investment in all countries of the Caspian region and Central Asia, because investors will be interested in Kazakhstan as well as in Turkmenistan and in other neighbouring states. The signing of the convention can have a multiplier effect, which will lead to an increase in investments in the Central Asian countries.

Kazakh experts claim that in addition to the investment area, the Convention on the Legal Status of the Caspian Sea will have a positive impact on trade and economic cooperation of the Central Asian states. The agreement will expand the resource-transport potential of the countries of the region, including the transit of goods to the markets of Europe.

ZHUMABEK SARABEKOV, EXPERT, INSTITUTE OF WORLD ECONOMICS AND POLITICS:

 - Development of transit opportunities of Kazakhstan and Turkmenistan as well as the conventions and the agreements that were signed in Aktau, contribute to the development of these opportunities. Our neighbours in the region can take advantage of them in order to gain expanded access to European markets through the Caspian Sea. It's much faster, cheaper and better. In general, the whole region profits from the signing of the convention. This is because, first, the Caspian Sea's military-political stability is ensured. Secondly, new economic opportunities are available in which all countries of the Caspian region can take part. Thirdly, the signing of the convention and agreements in Aktau promotes the activation of the Caspian transit region, where each of the Central Asian countries can benefit.