We are expecting monumental decision, says President Nazarbayev about Caspian Summit

Kazakh President Nursultan Nazarbayev said that an epoch-making decision will be made August 12.

"Over the past 20 years, we have been engaged in negotiations, far from simple. We have been harmonizing our stances to resolve all issues related to our common work in the Caspian Sea. It is shipping, it is the resources in the Caspian Sea, the conservation of marine biological resources, trade, and cooperation of our states. I think all the issues have been harmonized, we are expecting a monumental decision tomorrow. It is very crucial for all of us," Nursultan Nazarbayev said.

It is to be recalled that the presidents of five countries located on the shores of the Caspian Sea - Kazakhstan, Russia, Azerbaijan, Iran, and Turkmenistan - will meet in Aktau on August 12. They are expected to sum up the multi-year negotiations by signing the Convention on the Legal Status of the Caspian Sea to become a solid foundation for resolving many issues related to the countries' economic interests in trade, transit, shipping, and other fields. Besides, they are to sign new security agreements including on cooperation in the fight against terrorism and organized crime.

The Summit will be preceded by the Meeting of Foreign Ministers of the Caspian Littoral States scheduled for August 11.