Five documents signed after 4th Caspian summit

The presidents of Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan signed a joint statement and a final communique.

The parties signed an agreement on cooperation in hydrometeorology of the Caspian Sea. In the presence of the heads of state an agreement on cooperation in warning and liquidating emergencies in the Caspian Sea and an agreement on the preservation and rational use of water biological resources in the Caspian Sea were concluded, Kazinform has learnt from ITAR-TASS. Railroad around the Caspian Sea According to Vladimir Putin, Russia believes the project to create a railroad ring around the Caspian is promising. "The task is to connect the key Caspian ports, which will substantially reduce the time and cost of cargo transportation, which means it will increase the competitiveness of our economies," Putin said. The Russian leader said such multi-partner projects demand constant organizational support. "So we agreed with partners to think of creating a five-party structure that would address relevant issues," he said. Caspian Sea legal status Russian president also noted considerable progress in preparing the convention on the Caspian Sea legal status. "I consider progress in preparations for the convention on the Caspian Sea legal status one of the major results [at the Caspian summit in Astrakhan]," Putin said. "Experts have been instructed to step up consultations in several remaining aspects. There are grounds for believing that in the near future we'll get over to the signing of the convention. So we're successfully completing the work that has been lasting for 18 years," he said. Resources of the Caspian The Caspian sea is a unique water area in terms of its bio and ecological resource, which includes more than 500 kinds of sea plants and 854 kinds of fish species, including the Caspian sturgeon which accounts for 90% of the world stock of sturgeon fish. A predicted amount of Caspian hydrocarbon resources has been estimated at around 18 billion tons, with the proved reserves put at four billion tons, which brings the Caspian Sea to second position after the Persian Gulf in the rating of the world biggest oil and gas reserves. The first Caspian summit was held in Ashgabat in 2002; the second one five years later in Tehran, and a third one in Baku in November 2010. After Astrakhan, the baton of Caspian summits will pass on to Kazakhstan.