CIS nations can benefit from untapped resources in Caspian Sea – Iran official
By Trend
Nader Pasande, the director of Iran's Ports & Maritime
Organization in maritime affairs, said natural resources of the
Caspian Sea could bring about a golden opportunity for the nations
of Commonwealth of Independent States (CIS) to improve their
economy.
Iran and Azerbaijan can have a closer interaction and benefit from
the natural resources of the Caspian Sea, Pasande told the Trend
news agency on June 10.
The largest inland sea in the world is replete with natural
resources and the Commonwealth of Independent States (CIS) could
benefit from them if it joins the high seas, he added.
He further urged the CIS countries to use the untapped potential of
the sea and enjoy steady economic growth.
The Caspian Sea is the largest enclosed body of water by area and
is variously classified as the world's largest lake or a
full-fledged sea.
Back in May, Iran announced it planned to form a joint oil company
with Azerbaijan in what could prepare both to cooperate over the
exploration and development of hydrocarbon reserves in the Caspian
Sea and elsewhere.
The announcement over the formation of the company was made by Amir
Hossein Zamaninia, Iran’s deputy petroleum minister for
international affairs and trading.
Zamaninia told Trend that the company will be formed within the
framework of a deal recently signed between the two parties.
In April 2018, during a visit of Iran’s President Hassan Rouhani to
Azerbaijan, the two countries signed "The Memorandum of
Understanding on "Joint Development of Relevant Blocks in the
Caspian Sea."
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