Economic activity in the Caspian Sea needs special courts and dredging in ports

The wars in Iran and Ukraine have sharply increased the strategic importance of the so-called Middle Corridor linking Asia and Europe, as traditional trade routes face disruptions and energy prices surge, officials and analysts say.

On August 22, senior officials from Azerbaijan and Russia met in Astrakhan for the 23rd session of their intergovernmental commission on economic cooperation, in what observers described as a cautious step toward normalisation of relations after months of tension.

Leaders of Uzbekistan, Turkmenistan and Azerbaijan on Friday pledged to accelerate regional integration, using a summit on Turkmenistan’s Caspian coast to draft plans for joint transport corridors, energy exports and trade links amid shifting geopolitical dynamics across Eurasia.

Presidents of Russia and Iran, Vladimir Putin and Masoud Pezeshkian, on January 17, following negotiations in Moscow, signed a Bilateral Agreement on Comprehensive Strategic Partnership. The agreement had been in preparation since January 2022 and consists of 47 articles that define the relations between the two countries in all sectors for at least the next 20 years. Among the important economic provisions are cooperation between the two countries in the field of energy as well as the transportation of goods along the international transport corridor (ITC) "North-South."