World Bulletin / News Desk
Five littoral states -- Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan -- on Sunday will sign a document on the legal status of the Caspian Sea.
Azerbaijani President Ilham Aliyev, Iranian President Hassan Rouhani, Kazakh President Nursultan Nazarbayev, Russian President Vladimir Putin and President of Turkmenistan Gurbanguly Berdimuhamedov will meet in the Kazakh city of Aktau, where they will hold the Fifth Caspian Summit.
Aktau on Saturday will host the Caspian Foreign Ministers Meeting prior to the summit.
The summit will focus on three main items; legal status of the Caspian Sea, cooperation in the Caspian Sea, and regional and global issues.
By the end of the summit, the sides plan to sign the main outcome document, Convention on the Legal Status of the Caspian Sea, which was finalized at the Caspian Foreign Ministers Meeting in Moscow late 2017.
After the fall of the Soviet Union, Caspian littoral states started negotiations over the legal status of the sea. However, wide divisions between these countries created a deadlock, preventing the sharing of the sea’s rich hydrocarbon resources.
According to the draft agreement, an area of 15 nautical miles from the coast will be regarded as the respective country's territory.
By adding 10 nautical miles to this distance, a total of 25 nautical miles will be set as the fishing zone of each country.
The remaining parts will be neutral zones open to common use.
The bottom of the Caspian Sea will be divided among the littoral states.
The agreement also included the principles of preservation of a military balance, the protection of biological resources and navigation safety.
It will imply equal rights for all littoral states.
Experts believe that the littoral states will get closer both in political and economic terms after the signing of the legal status of the Caspian Sea.
'The tariffs that are in place on steel would not be removed with the release of pastor Brunson,' White House says
Former Uruguay president shuns pension to retire to his modest flower farm
All parties in Syria 'need to move ahead on the political track', two men agree during meeting
Last month, Hague-based tribunal called for campaign to support ‘victims of situation in Palestine’
Israel closed Kerem Shalom crossing last month over the launch of arson balloons from Gaza
The dead included an unspecified number of Venezuelans and Colombians, whose embassies were notified of the accident outside Quito, they said.
Products include cars, rice, some alcohol and tobacco products, cosmetic products like sun creams
The government of the economically-ravaged country has for many years heavily subsidized petrol and Maduro says this has now led to a voracious black market in oil smuggled to neighbouring countries.
Iraqi premier will meet Turkish President Erdogan during the visit
US to strengthen military 'like never ever before,' Trump says of $716B bill
Some 69 children were among those arrested by Israel last month
The militant was convicted of killing a number of police and army personnel in Nineveh province
If US officials confirm "the offer for the FBI to investigate links in Florida with the assassination plan... I would agree for the FBI to come here," Maduro said at an event with top military leaders late on Saturday.
Move comes after US re-imposed first round of economic sanctions on Iran, targeting country’s banking sector
Move comes few days after Pakistan, Russia signed agreement for military officers’ training