Daily Times

Avaza in Turkmenistan was dazzled in August this year with the presence of the energy elites of Caspian region when first Caspian Economic Forum was held to promote the broad range of cooperation in diverse fields including trade, economics, transit and transport, energy, humanitarian and close regional integration. Enriched with the traditional Turkmen hospitality, the forum was hosted as a result of the unwavering efforts of the President of Turkmenistan, Gurbanguly Berdimuhamedov after the five nations of the Caspian region signed the convention on the legal status of the Caspian Sea in August 2018 in Kazakhstan. This was a landmark agreement that divides the entire seabed of the Caspian Sea between the Caspian five and making the entire Sea as an international water with its international stature. The five Caspian state-Azerbaijan, Iran, Turkmenistan, Russia and Kazakhstan agree on the use of water and exploration to the seabed through this convention. The primary aim of the forum was meant to implement the projects to promote the investment and cooperation opportunities in the diverse sectors. Large number of delegations from the Caspian region countries were present led by the highest levels of the political and ministerial elite. The Russian delegation was led by the Russian Prime Minister Dmitry Medvedev and the Russian delegation have voiced to host the next Caspian Economic Forum in Astrakhan in 2020. Apart from Russian Prime Minister, Vice President of Iran Prime Minister of Azerbaijan, Prime Minister of Kazakhstan were the highest representatives from the Caspian five. This important event gathered more than 3,000 diplomats, political elites, representatives of the multinational companies, business groups, journalists, scholars from across the world. Apart from the Conference and dialogue forum, an international Caspian exhibition of innovative technologies and Turkmen Sahra 2019 was also arranged. This was meant to familiarise the participation about the with the achievements of modern technologies and the automotive industry in Turkmenistan. The glorious role of Turkmenistan and leadership has remained instrumental in making this positive and concrete initiative for the region’s peace and prosperity.

In Persian Darya-ye Khezer, in Russian Kaspiyskoye and famously known as Caspian Sea is the world’s largest inland body of water rich in abundance of energy resources. According to an estimate the Caspian sea contains 48 billion barrels of oil and 8.7 trillion cubic meters of gas in proven or probable reserves. This gives the strategic significance to the Caspian Sea for the countries surrounding it. There is also interesting debate about considering Caspian as a sea or a lake. Over the years, one serious limitation of exploring full potential was the lack of existence of a legal regime that can cater the needs of the connected nations. The absence of proper convention has led to disputes among the over the exploration and distribution of the energy resources. Caspian Over the years has gained political, economic and strategic significance for the regional and international powers to expand their sphere of influence in the region and beyond. This competition has remained part of the larger ongoing New Great Game in the entire region. Negotiations have remained on regular basis in order to resolve this emerging conflicts and disputes especially after the exploration of the energy reserves nearly two decades ago. Several regional proposals from different countries were considered but the negotiations remained futile which could have given a balanced solution to these proposals. Though disputes but there was no as an all-out conflict amongst states so far. As a result of the high energy demand, the Caspian has received the world’s greater attention for the competition of the riches and rule.

The signing of the Caspian Sea Convention on Legal Status by five Caspian states last year in 2018, served as an opening point for further regional integration and opened a new chapter of the cooperation between the states in the realm of industry, agriculture, ecology, electric power, transport, trade, tourism, energy. The forum was marked the first anniversary of a new beginning in the Caspian region. This event also reflects the commitment of Turkmenistan for widening and diversifying the regional and interregional cooperation. This is the strong voice from the region to transform the Caspian Sea as Symbol of Peace and prosperity.

All the five nations are entangled in the growing demand of energy and connected politics to it. There are several pipeline projects that are ongoing or under construction. One of the project i.e. Trans-Caspian Pipeline (TCP) has remained under consideration for the construction for almost about quarter of the century wherein the natural gas from Turkmenistan across Caspian Sea to Azerbaijan has been aimed to bring the energy to the European economies. The EU economies are expected to receive 30 billion cubic meters of Turkmen gas from this inspiring project as being part of the Southern Gas Corridor initiative that aims to “augment and diversify suppliers of gas to the EU Markets”. However, Russia and Iran have opposed this project since its inception in the 90s. One of the reasons is that this would lead to the less dependency of the EU markets on Russian and Iranian oil and gas. This is all about competition and the comfort to customers and buyers. This project will be completed after the recent agreement and rapport that has been developed by the countries after regular holding of the Caspian forum.

The first Caspian economic forum is a glorious beginning and should be consider as a means of sustainable development

One must pay tribute to the role that the Turkmenistan has played the role at the regional and international level. Despite having the wide network of highways, railways, air and sea route, the country is destined for strengthening and promoting peace and stability in the region. Today, experts are discussing the leading role of Caspian Economic forum in the development of new geo-economic belt in Eurasia region for the transform the Caspian Sea into a large transport & transit hub of the international value with ever lasting role in view of modern global trends.

Today, the Caspian region become the main concern for global policy for the leading states as it always in remained the highlighted for their geopolitical and economic interests in the past. Having the 70 and 40 percent of world oil and gas reserves, respectively, are the actual ingredients of interest of global actors in the region. While, the Caspian states takes such a strategic advantage as initiator of cooperation. However, optimal transport infrastructure, high technology and safe production facilities, stimulating measures for investors, unique tourist production are the elements which is urging the states to work together to build the communities of the region beyond the divide.

The first Caspian economic forum is a glorious beginning and should be consider as a means of sustainable development. For regional peace and security, cooperation amongst Caspian Sea region is necessary. In order to promote the regional relations, the Turkmenistan President said that our confidence can build stable relations with other states. There is a strong urge from the region to be free from politicization, unfair competition and all states should work on clear and transparent principles. In these cases, the Turkmenistan’s president emphasized to expand working ties with the UN Economic Commission for Europe, the UN Economic and Social Committee for Asia and Pacific, the World Trade Organization and other specialized international structures to perform on better in fields stretches from common and agreed positions. Caspian states also in need to consolidate their own perspectives and experiences of being part of the positive practice of work of number of regional international organizations including Economic Cooperation Organization, Shanghai Cooperation Organization, Commonwealth of Independent States.

No doubt, Caspian is a juncture of the global communication. The region though mired with its own economic and political challenges with a strong influence from the region, however the countries and leadership like that of Turkmenistan has played its key and constructive role in taking the giant step towards peace and prosperity in the region. This should be a positive and a role model initiative to move forward. The economic prosperity is the key and the connected benefits from the Caspian Sea basin including the emerging pipeline projects resulting in the interdependence of states with each other has led to the progress towards peace and efforts for peaceful coexistence. The future is Caspian for all the states.

The writer is Director, Institute of Peace and Diplomatic Studies and represented Pakistan at the First Caspian Economic Forum held in Turkmenistan