Caspian Region’s Vast Prospects
The role of the Caspian region in the global system of geo-economic network is growing.
Analysts underline the vast potential of the region as trade and economic cooperation between the countries are actively developing.
Based on the estimates by independent agencies, the Caspian littoral states have a chance to generate almost US$4 billion from exports by 2025. The countries are currently facing a challenge of boosting trade and turning the Caspian region into one of the most effective hubs both at sea and land.
The Caspian littoral states are boosting capacities of their ports. Kazakhstan’s Aktau Port transshipped 3.5 million tons of freight last year. The port’s capacity totals about 40,000 containers per year and the target is to transship 300,000 containers per year within four years.
The Caspian states are set to build the transport infrastructure and create new economic opportunities in the region, as well as attract large investments. The latest regional plans and developments will be discussed at the First Economic Forum in Turkmenistan.
The Caspian Forum is designed to serve as a permanent negotiation platform, aimed at boosting cooperation in the Caspian region and the nearby countries.
There are vast potential in energy, transport, communications, trade and investments.