ASHGABAT — Turkmenistan is scheduled to hold the first Caspian Economic Forum on Aug. 12 2019 in the National Tourist Zone “Avaza,” according to an official statement released by Embassy of Turkmenistan in Riyadh.

President of Turkmenistan Gurbanguly Berdimuhamedov proposed Aug. 12, the date when the littoral countries reached an agreement on the legal status of the Caspian Sea in 2018, as the date of the forum.

The forum envisions sessions on commercial and economic relations, investments, energy and tourism and the development of large-scale projects. Its agenda will cover these issues in the hope of further forming the basis for prospective cooperation among participating states, representatives of the banking and business sectors and scientists from Caspian countries.

“The upcoming event aims at providing strong and prudent incentives to economic, trade and investment cooperation on the Caspian Sea and nearby regions,” the official statement read.

“It also aims to transform the Caspian region into one of the largest international transport and transit hubs through the creation of a new geo-economic area in Eurasia that is capable of catering to global, modern demands,” it added.

Along with the main events, an international conference titled Caspian Exhibition of Innovative Technologies will be held with the participation of government representatives, companies and entrepreneurs. — SG