“I congratulate you opening of the Exhibition of Economic Achievements of Turkmenistan and the scientific-practical conference “Digital Economy - the Most Important Factor of Economic Development”! I sincerely wish great success to the forum dedicated to the 29th anniversary of independence of Turkmenistan!”- says President Gurbanguly Berdimuhamedov, addressing the participants of the exhibition and conference.

According to the President Gurbanguly Berdimuhamedov, today neutral Turkmenistan occupies a leading position among the dynamically developing countries of the world, is known as the state that relies on high technologies, successfully implementing large-scale programmes. Initiatives aimed at ensuring well-being of the peoples in the region and the planet are widely supported by the international community that also contributes to the steady growth of the international authority of the country.

“In a short historical period, Turkmenistan has carried out fundamental reforms and has achieved high results in all areas of the state's life.

“We will continue implementing economic reforms, ensuring dynamic development of the country. We will strive for the main goal – to bring Turkmenistan up to the level of a number of highly developed states of the world.

“Based on the principles of peacefulness and progressive development, the domestic and foreign policy of the country, large-scale activities in the interests of the state and society, as well as the peoples of other countries, the fundamental transformations carried out in the country serve a great goal - to ensure the comprehensive harmonious development of the independent state, to improve the living standards of the Turkmen people”, says the President of Turkmenistan in his address.

In conclusion, President Gurbanguly Berdimuhamedov expressed confidence that the exhibition and conference would provide a platform for presenting Turkmenistan’s achievements in the economic and social sphere and wished their participants good health and great success in work.

You can too! How the EU supports women entrepreneurs in Georgia?

1. 1.       I want to start my own business, but I’m not sure my idea would work. Who can advise me?

The European Union is very active in supporting the development of new businesses, particularly among women and particularly in the regions of Georgia, often with a focus on rural and disadvantaged areas. So don’t think that you need to be in Tbilisi, to have a higher education or an established business in order to access EU support – on the contrary!

The EU supports a number of programmes and business support facilities that provide know how, practical help, and even funding to help you start your business.

Here are some examples:

If you are looking for support in agriculture, the ENPARD programme provides information, training, advice and financial support all over Georgia, with hundreds of thousands of farmers benefitting since 2013. Visit the programme’s interactive map to find regional initiatives, contacts, information centres and cooperatives near you.

The Mayors for Economic Growth programme supports local authorities in developing economic growth and job creation. Among the dozens of local authorities that have signed up in Georgia, three – Bolnisi, Gori and Tbilisi – are running pioneer projects including support for new entrepreneurs with training and business development facilities, ensuring the equal access of women to development opportunities.

1. 2.       Business advice is all very well, but you need money to develop your business. How can I get funding when I have no money of my own and no business experience?

A number of grants for agricultural projects are available under the ENPARD programme. Follow the calls section on their website to see the list of grant competitions that are available.

While the local development projects funded under the Mayors for Economic Growth initiative do not provide grants, they will help you to access finance. For example, the SPARK business accelerator set up under the project in Tbilisi offers new businesses assistance in preparing a business plan, and puts you in contact with potential investors and sources of finance. 

One EU-funded programme offers loans that are specifically tailored to women: Women in Business can provide finance both to start and develop a business. The programme works with local partners Bank of Georgia and TBC Bank and offers preferential terms for women entrepreneurs to finance new business ideas or expand an existing business. Several other projects under the EU4Business initiative also work with local banks to provide loans for SMEs – from micro-finance to major investment loans.

1. 3.       I already have a business, but I need help to take it to the next step: is there any EU support available for me?

If you already have a business and you are looking to develop, funding (and training) is available through a number of programmes under the EU4Business initiative, which supports private sector development across Georgia.

Apart from providing loans, Women in Business offers training and subsidised advisory services that are specifically tailored to women-led businesses. The programme also offers a personalised online tool – the Business Lens – to assess your business and see what kind of support you can access.

Some EU4Business programmes also offer finance for much larger businesses, but others such as the DCTA Initiative East offer microfinance loans up to €25,000. The European Fund for South East Europe (EFSE) also provides small loans (average loan size €14,300) to the smallest businesses (less than 10 employees) in sectors such as agriculture, industry, trade and services. Click here for the full list of finance programmes under EU4Business, here for projects offering training and business advice, and here for projects supporting access to markets.

Georgian entrepreneurs also have access to the Enterprise Europe Network, which helps Georgian SMEs find business and technology partners across Europe and beyond.

1. 4.       I’m not sure I want to start a business, but I want to learn new skills: is there something for me from the EU?

Training and skills are a key priority of EU support in Georgia, and the EU provides considerable funding for Vocational Education and Training (VET). The EU recently launched a 150 million GEL programme supporting vocational education and labour market development. The 5-year programme will help 105,000 Georgians find jobs by expanding high quality vocation education, improving labour policies, and supporting entrepreneurship training.

In terms of direct support, the individual EU4Youth programmes – Say YES: Skills for Jobs, Enhancing Youth Education, Employment and Participation in Conflict-affected Areas in Georgia and Ukraine, Fostering Potential for Greater Employability, and Better Skills for Better Future – have a strong focus on skills for under-35s, especially in less advantaged regions of Georgia, providing training, mentoring and internships to help young people find jobs.

For young women under the age of 30, the EU offers exciting opportunities under its Erasmus + youth programmes. You can join the almost 10,000 young Georgians who have already learned new skills and developed valuable experience by participating in youth projects or volunteering for work abroad under the European Solidarity Corps.

And if you are in higher education, Erasmus + offers student exchanges and post-graduate programmes in Europe. Find out more about all the opportunities and how to apply.

1. 5.       Are there women like me, who started their own business with EU help?

There are lots!

Nata, Manana, Irina and Dali all received grants under the ENPARD programme. Natalia and Irina come from Tbilisi, Manana from Tsalka, and Dali from Upper Alvani. Natalia grows cucumbers, Irina tomatos, Manana runs a tea processing enterprise, and Dali combines honey production with educational courses. They have all developed their business with the help of EU training and grants.

Irina Gloveliand Tekla Mamageishvili both received advisory support as part of the Women in Business programme. For Tekla, the project helped to plan the activities of her eye clinic more strategically and attract financial resources, while Irina received help to put her engineering company’s financial reporting in order, leading to a 7.5% rise in profits.

Manana Chqareuliworked from home as a seamstress. With the help of loans under the EFSE programme, she was able to upgrade her equipment, lease a proper workspace and hire staff to develop her business. Now her company is on its way to becoming a brand in its own right.

Diana Bakradze and Anna Varamashvili benefitted from skills training and internships under a project for ‘Support of vulnerable youth to become productive citizens through learning, training and employment’, an important step to an independent professional life.

Click here for more success stories from ENPARD, here to find out what the city of Bolnisi is doing under the Mayors for Economic Growth project, and here to learn about five Georgian women who have benefited from EU support across a range of areas.

1. 6.       Whom can I ask for help?

Visit the ENPARD website to find contact information in all the different regions of Georgia, and check the programme’s interactive map to find regional initiatives, contacts, information centres and cooperatives near you.

Look at the Mayors for Economic Growth website to see if your town is among the signatories and what it is doing to support jobs and businesses near you.

If you already have a business and are looking to develop it, check out the training and funding opportunities available under EU4Business in Georgia.

For education and youth opportunities, contact the national Erasmus + office in Georgia.

And don’t forget to follow the EU Delegation to Georgia on Facebook for updates and new opportunities.

As part of the First Caspian Economic Forum, Avaza has hosted a meeting of representatives of sectoral agencies of the Republic of Azerbaijan, the Islamic Republic of Iran, the Republic of Kazakhstan, the Russian Federation, and Turkmenistan - the parties to the Agreement between the Governments of the littoral Caspian nations on trade-economic cooperation, signed at the Fifth Caspian Summit in Aktau in 2018.

As noted, given the existing global geopolitical context, a mechanism for regional cooperation is attaining greater importance and topicality not only as an instrument for deepening economic interaction, but also as a key factor in ensuring sustainable development.

The heads of the visiting foreign delegations highlighted that the constructive cooperation among the coastal nations aims at combining efforts in order to accomplish the objectives. In the present era, the Caspian Sea has an increasingly important role to play in the global geopolitical and geo-economic landscape. Expanding steadily the full regional cooperation is entirely consistent with the five coastal countries’ policies.

The countries have adopted a ‘stability through common development’ approach as an optimal form of partnership that reflects economic needs of each Caspian Sea nation. In this context, it was noted that the forum is well timed taking place at exactly the right moment.

The participants shared an opinion that coordinated efforts are today taking on particular significance for macroregional cooperation. Special emphasis was placed on the importance of the Convention on the Legal Status of the Caspian Sea, signed at the Fifth Caspian Summit in August 2018. The real value of this international treaty, which has become a strategically vital step in promoting economic development in the Caspian Sea, lies in the fact that it provides the legal groundwork for enhancing cooperation in different areas.

Speakers at the meeting highlighted that dealing with the pressing issues on the agenda would help to identify areas of common interest to further strengthen the mutually profitable relations. On the whole, further partnership between the region’s countries offers real prospects for maintaining rapid sustainable development and their integration into the world economy.

Amid growing competition in the foreign and domestic markets, the littoral countries’ considerable industrial and investment potential should be used to cement cooperation in tackling burning issues. Exchanging their views on the possibilities of boosting the constructive contacts, the heads of the delegations expressed satisfaction with the states’ mutual desire to step up economic relations, and create effective mechanisms for cooperation to make the Caspian Sea region an area of integrated partnership on an equitable and long-term basis with an investment-friendly climate. In this context, the parties spoke for implementing interstate programs and projects.

Those speaking from the Turkmen side stressed that the development of international ties in investment activities contributes to fulfilling our country’s versatile potential. Willingness of foreign investors to invest heavily in the national economy, which boasts good performance indicators, testifies to great trust placed in our country as a reliable, responsible and reputable partner that has enormous potential. In this regard, the sides discussed potentialities of creating joint enterprises.

In the course of the meeting, special attention was given to sharing knowledge and expertise on establishing and developing special free economic zones that have become an integral part of world economic relations today. The speakers emphasized that creation of free economic zones will boost competitiveness of the national economies, enhance export possibilities of the littoral states, and, eventually, bring prosperity and well-being to the nations.

The digital economy was named as a key area of cooperation. The sector is identified as a top priority and main focus of the coastal countries’ state policies. As noted, in this day and age, it is impossible to imagine living without information technologies that have changed, facilitated and improved activities in different spheres, having opened up new market possibilities.

Digital infrastructure and advances in computer technologies create huge potential in the field of information systems, accelerating their widespread adoption in economic life, and forming the bedrock of the digital economy. In this respect, the meeting attendees considered implementing joint action plans in the sector. This will encourage the countries’ business and investment activities, helping to build up productive relationships.

The parties also recognized the advisability of sharing legislative acts, national standards, regulations and statistical data on trade-economic issues, having proposed to work out new agreements. The meeting also addressed the need to simplify visa procedures as this would bring benefits and stimulate the region’s economic development in the long run.

The state news agency of Turkmenistan

On May 30, 2019, in Grigol Robakidze University the Embassy of Turkmenistan in Georgia held the Conference dedicated to the First Caspian Economic Forum,which will be held on August 12, 2019, in the National Tourist Zone “Avaza”, Turkmenbashi.

The round table was attended by faculty and students of universities of Georgia, media outlet representatives.

At the beginning of the round table, the video on the First Caspian Economic Forum’s significance and prospects was shown.

Speakers noted that the initiative to hold the First Caspian Economic Forum was proposed by President of Turkmenistan Gurbanguly Berdimuhamedov at the V Summit of the Heads of Caspian States. It was also underlined that one of the greatest challenges of this Forum is to use of the Caspian Sea unifying factor for consolidation of efforts aimed atexpanding mutually beneficial trade and economic cooperation; the devising incentive mechanisms for national resources management, implementation of joint investment projects and programmers, sharing experiences on the economic cooperation issues, creation of joint ventures and active dialogue of business societies.

On the 7^th of May 2019, during the work of Organizational session of the United Nations Economic and Social Council, Turkmenistan was elected to its three important bodies: Executive Council of the World Food Programme for the period of 2020-2022, Commission on Population and Development for the period of 2020-2024 and Commission on Narcotic Drugs for the period of 2020-2023.   

The election of our country to these structures became one more proof of growing reputation of Turkmenistan in the world, recognition of its major role in the resolution of most contemporary issues of present day global development.    

A significant vector of international activity of Turkmenistan is the provision of food safety and nutritional development on the national, regional and world-wide levels.  In this regard, our country proposed an initiative to gather the High-Level Food Forum under the auspices of the UN.  The meaning of the proposed initiative is based on the notion that such Forum will give effective impulse to the international partnership in the area of global nutrition and thus will assist attaining concrete future resolutions on the UN level in this direction. 

As to the contribution of Turkmenistan in the resolution of population related issues, it is worthwhile to note the implementation in the country of various important programs in the area of reproductive health, countrywide and regional projects aimed at provision of most convenient conditions for applying the demographic policy, protection of mother and child.   

Turkmenistan will continue uncompromised struggle against the narcotics.  Practical actions are realized in our country aimed at combatting illegal drug trafficking and in this regard national programs are successfully implemented.  The membership of Turkmenistan in the Commission on Narcotic Drugs opens new perspectives for cooperation for efficient response to this global challenge.       

The election of Turkmenistan to these three important bodies of the United Nations Economic and Social Council serves as a vivid proof of rightness  and rationality of the course selected by our country aimed at wide international cooperation in the resolution of actual problems of modern world, suitability of our policy with the security protection, progress and sustainable development.

Trade and economic cooperation as an important component of Turkmen – Korean relations was one of the main subjects of the talks of President Gurbanguly Berdimuhamedov with President Moon Jae-in in Oguzkhan Palace Complex.

Turkmenistan has rich natural resources, developing industrial and transport infrastructure and agrarian complex while the Republic of Korea has modern technologies and production, Turkmen leader said, having noted that our country considers for beneficial cooperation with Korean business circles on creation of new industrial facilities based on advanced and eco-friendly technologies.

Leading Korean companies participating in the implementation of the projects of construction and modernization of oil refining and petrochemical complexes were brought as an example of efficient joint activity. It includes gas processing plant at Galkynysh field and petrochemical complex for polymers production in Kiaynly settlement in Balkan Velayat.

In this context, President Gurbanguly Berdimuhamedov made proposal on detailed review of the implementation of joint energy projects in Turkmenistan in near future.

The most important of them were discussed recently in Seoul at the seventh session of Intergovernmental Turkmen – Korean Commission for trade, economic, scientific and technological cooperation. In this regard, it was proposed to have talks between Korean companies and relative structures of Turkmenistan on detailed discussion of the subjects related to organization of joint work in May – June this year.

Transport sphere was outlined as one of the main directions of bilateral cooperation. Big Korean transport, logistic and ship building companies as well as facilities producing modern high-class vehicles, locomotives and wagons would be able to take part in the development of transport and communication infrastructure f Turkmenistan as an important element of international cooperation in the sphere of sustainable transport.

For example, ship-building plant operates in the structure of Turkmenbashy International Seaport, which was put into operation in May last year. In case of the interest of profile Korean companies, Turkmen side is willing to establish close cooperation in this new field – the construction of sea ships for their use in Caspian Sea.

Partnership in supply of vehicles from the Republic of Korea with the opening of trade, service and maintenance bases of Korean vehicle building companies seems to be perspective in the partnership between our countries.

Turkmen side said about the willingness to detailed discussion of the main terms of cooperation in the sphere of railroad transport. Study of the capabilities of Korean companies in supply of relative equipment as well as their participation in modernization of railways in Turkmenistan is very current in this sphere.

Turkmenistan is also willing to develop joint projects in electronic industry having rich intellectual potential, wide financial and material resources for its development. Participation of Korean companies, which have high technologies, in creation of this industry in Turkmenistan can be another direction of the partnership. Advanced technologies of light industry of the Republic of Korea can be used in further development of Turkmen textile industry.

Systematic introduction of digital technologies in all spheres is strategically important for social and economic growth of our country, President Gurbanguly Berdimuhamedov said. In this regard, Turkmen side looks forward the exchange of practice with Korean colleagues in the sphere of digital economy and express the willingness to the establishment of direct contacts with relative government structures, institutes and companies of two states.

President Gurbanguly Berdimuhamedov proposed to establish joint Turkmen – Korean Business Council for strengthening of trade relations, coordination of existing and perspective joint economic projects and expansion of the spheres of the partnership. It composition may include Turkmen and Korean industrial facilities, trade companies, banks, financial and industrial institutes, centres of economic information. The Head of Turkmenistan has also expressed the confidence that regular and systematic communication of entrepreneurship structures under the above-mentioned Council would support significant promotion of bilateral trade and economic cooperation.

The state news agency of Turkmenistan 

During the talks between President of Turkmenistan Gurbanguly Berdimuhamedov and King of Bahrain, Hamad bin Isa Al Khalifa with the participation of the official delegations of the two countries it was underlined that Turkmenistan and the Kingdom of Bahrain are the dynamically developing states with huge reserves of natural resources and favourable geographic location that opens up wide opportunities for full-scale and mutually beneficial cooperation in the trade and economic sphere.

In this regard it was emphasized the necessity to create a long-term legal base to reflect the prospects of the partnership, the bilateral mechanisms of the efficient cooperation, in particular, the intergovernmental commission on the economic cooperation.

The fuel and energy and processing capacities as well as the favourable geographic location will provide a platform for exchanging experience, implementing the ambitious projects for the delivery of energy resources to the international markets.

At present, the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline is carried out at high paces. The companies in Bahrain were invited to take part in the implementation of this project.

Such sectors of the national economy as agriculture, communications, processing and chemical industries were specified as the priority areas of cooperation. It was also proposed to consider the possibility to export textile products manufactured in Turkmenistan to Bahrain.

The banking system and urban development were also specified among the promising areas of cooperation. The delegation of Bahrain expressed the interest in the rich experience of Turkmenistan in processing agricultural products and the food industry.

Private investors and business organizations of the both countries play a key role in the trade and economic cooperation, the investment activity.

In this regard it was suggested to establish the Turkmenistan-Bahrain Business Council that will promote developing cooperation between the business circles of the two countries on a regular basis.

The possibilities of cooperation in the sphere of tourism were discussed during the meeting. Turkmenistan expressed the interest in studying and using the experience of Bahrain in creating the modern tourism systems and the sphere of services.

Particular attention was paid to the prospects of cooperation in the transport and transit sphere. In this area, Turkmenistan considers Bahrain as an important partner with huge potential for the implementation of the project on the construction of the transport corridor – Central Asia – Middle East.

The Turkmenbashi Sea Port opened on the Turkmen coast of the Caspian Sea in May, 2018 includes the multifunctional multimedia terminal, designed for the transport communication with the markets of the Middle East and the Indian Ocean region.

The Turkmenbashi Sea Port is to be a largest transport hub on the continent towards the East-west and North-South directions. In this regard it was underlined the possibility to develop logistic activities with the ports in Bahrain.

Within the frames of the visit of the Minister of Economy and Sustainable Development of Georgia, George Kobulia, to the Republic of Korea, an Agreement between the Government of the Republic of Korea and the Government of Georgia on Economic Cooperation was signed. 

The Agreement was signed by the Vice Foreign Minister of the Republic of Korea, Lee Tae-ho and the Deputy Minister of Economy and Sustainable Development of Georgia, Genadi Arveladze. The Agreement will become effective in 30 days. 

With the Agreement, the Republic of Korea and Georgia agreed to explore the possibility of joint projects in areas of mutual interest, including investment, trade, tourism and industry, and to continue to strengthen economic cooperation, including people-to-people exchanges between the two countries.

Georgia and the Republic of Korea will establish a joint committee to effectively implement the Agreement and to explore ways to increase economic cooperation between the two countries. The Commission will discuss the existing bilateral trade and economic relations and possibilities and opportunities for enhanced cooperation in different sectors.

The Agreement between Georgia and the Republic of Korea is targeted at expanding the economic cooperation between the two countries, including the facilitation of the Korean companies to expand their presence in Georgia.

“This Agreement will be another contributing factor to the growth of the foreign trade turnover and the development of the trade and economic cooperation. It will encourage entrepreneurs in to enter the market and implement new investment projects,” – George Kobulia, the Minister of Economy and Sustainable Development stated after the signing of the Agreement.

Georgia and the Republic of Korea also agreed to start negotiations on conclusion of the Korea-Georgia Investment Promotion and Protection Agreement at a mutually convenient time.

On February 11, 2019, the Embassy of Turkmenistan in Georgia held the briefing dedicated to the First Caspian Economic Forum, which is scheduled to be held on  August 12, 2019,  in the National Tourist Zone “Avaza”, Turkmenbashi.

The briefing was attended by representatives of TV-24, “Georgian Business Week”, the information agency “News Day Georgia”. newspapers “Multinational Georgia”, “Free Georgia” and others.

In his speech, Ambassador Extraordinary and Plenipotentiary of Turkmenistan in Georgia Mr.D.Muratov underlined that the initiative to hold the first Caspian Economic Forum was proposed by President Gurbanguly Berdimuhamedov at the V Summit of the Heads of Caspian States, which was unanimously supported by all participants. Ambassador also noted that Turkmenistan has always taken and would continue to take active stance on Caspian Sea issues in order to ensure peace, security and stability in the region, consolidation of friendship and extensive cooperation between coastal states and their nations.

The journalists were informed about the International Media Forum organized by the Ministry of Foreign Affairs of Turkmenistan on the First Caspian Economic Forum, as well as about the progress in the preparing and holding the Forum. At the end of briefing, the participants noted that upcoming Forum would give a strong impulse to economic, trade and investment cooperation in Caspian Sea and neighbouring areas, turning Caspian Sea into one of the largest transport and transit hub of international significance.

Turkmenistan has started the detailed preparation to the First Caspian Economic Forum to be held on the 12^th of August 2019 in the National Tourist Zone “Avaza.”  It is favorably symbolical that the date of this first in the history large Caspian forum coincides with the Day of the Caspian Sea.

The implementation of measures on preparation and hosting the First Caspian Economic Forum unfolds in accordance with the Concept of holding the Forum affirmed by the President of Turkmenistan Gurbanguly Berdimuhamedov.  The organizational and analytical work is realized in the Coordination center of the Ministry of Foreign Affairs of Turkmenistan established by the resolution of the Head of State on December 14, 2018 during the Meeting of the state’s government.

The first in the history forum of this type in the framework of the largest region in the world, which the Caspian basin happens to be, was initiated by the President of Turkmenistan Gurbanguly Berdimuhamedov during the IV Summit of the Heads of the Caspian states that was held in Astrakhan, the Russian Federation on the 30^th September 2014.  This initiative is based on the notion that Turkmenistan sees strategical significance of the Caspian Sea in regional and interregional geopolitical and geo-economic processes, including its role as an important transit-transport and logistical tie which promotes the necessity to further unite the efforts on the Caspian states.  The development of constructive cooperation with the Caspian region states has been and remains to be the principle position and in this regard is among the priority vectors of foreign policy course of Turkmenistan.

The initiative of the Leader of Turkmenistan has found significantly new content in his address during the V Summit of the Heads of the Caspian states that was held in Aktau city of the Republic of Kazakhstan on the 12^th August 2018.  Underlining that the five-sided cooperation on the Caspian Sea by large depends on the level of participation of our states in trade, economic and transport processes, the President of Turkmenistan Gurbanguly Berdimuhamedov said that holding the First Economic Forum in 2019 will serve as a proof of all Caspian states’ readiness to consolidate efforts in this regard.

In this context the support of the thoughts of President of Turkmenistan Gurbanguly Berdimuhamedov on holding the next Summit of the Heads of the Caspian states and the First Caspian Economic Forum in Turkmenistan turned to be the concrete reflection of high trust of the neighboring countries.  Simultaneously this decision assigns deep responsibility for coordinated actions in this Eurasian region, the significance of which goes far beyond its geographic borders in accord with conditions turning it to one of the key centers of the geopolitical and geo-economic processes.

The upcoming in the August of the current year the First Caspian Economic Forum serves as one of the preliminary events of strategic appeal in the newest history of Caspian states’ mutual relations, prescribed by the functioning of such significant international legal document, which the Convention on the Legal Status of the Caspian Sea signed on the 12^th of August 2018 happens to be.  As is known, this founding international legal document which summarizes the results of long-term negotiation process of littoral Caspian states promises to open wide opportunities for realization of new investment projects in the Caspian region.       

According to the conceptual vision of the organizers, the Agenda of the First Caspian Economic Forum will encompass wide range of issues which will further form the base for prospective directions of cooperation of states participants.  It is planned that during the exchange of views and constructive negotiations actual subjects concerning the intensification of trade and economic relations including creation of conditions for development and implementation of large projects will be proposed.  It is awaited that there will be interesting discussions on the role of economy of the Caspian region in global context, including the increase of growth factors for investment motivation in the spheres of industry, energy, trade, tourism and other sectors of economies of Caspian states posing mutual interest. 

 The platform of the First Caspian Economic Forum will provide for practical exchange of views on implementation of the Intergovernmental Agreement between the Caspian states on trade and economic cooperation and Intergovernmental Agreement between the Caspian states on cooperation in the transport sphere.  As is known, these multilateral documents were signed on the 12^th of August 2018 as a result of the V Summit of the Heads of the Caspian states.       

In the Coordination center on preparation and conducting the First Caspian Economic Forum, along with the main events, programs of the International Conference and Caspian Exhibition of Innovative Technologies are being designed.  Alongside, forming of favorable conditions for fruitful meetings and negotiations in the sidelines of the Forum between the government representatives, as well as business circles and companies are projected.   

Delegations of the Caspian states, including heads and members of governments, heads of seaside regions and heads of regional executive management agencies, representatives of the banking sector and business circles of the Caspian region as well as stakeholder countries, scientific workers, and company managers realizing activities in the Caspian Sea are invited to participate to the Forum.   Delegations of other stakeholder parties, firstly the states in close proximity to the Caspian region as well as representatives of international economic and financial organizations are also invited to the Forum.       

The upcoming event is aimed to give strong prudent impulse to the economic, trade and investment cooperation on the Caspian Sea and nearby regions, transforming the Caspian region into one of the largest transport and transit bonds of international scope playing vital role in forming new geo-economic space in Eurasia which is able to meet the modern global tendencies. 

 Being the initiator and organizer of the First Caspian Economic Forum, Turkmenistan proves in practice its adherence to the policy of wide international cooperation in the Caspian region, turning it to the area of peace, security and stable development.