Strategic chance for Caspian states at Tehran forum

According to The Iran Project, Heads of transport and trade organizations, businessmen, and company representatives are attending the two-day forum, but a key highlight of the forum is the meeting of the prime ministers and vice presidents to discuss regional economic integration.

The Caspian Sea, as the world's largest enclosed lake, plays a pivotal role in the region's economic, geopolitical, and environmental landscape.

With current supply chains for essential commodities being at risk from the conflict in Ukraine and rising tensions in West Asia and the Red Sea, this body of waters is gaining increasing centrality in promoting economic connectivity between Asia and Europe.

Also as one of the most important energy sources, the sea is attracting the attention of the Europeans for its potentials to help them diversify away from reliance on the Russian energy sector.

Moreover, Europe and other international players seek to leverage the Caspian Sea to achieve strategic objectives such as diminishing Russia’s geostrategic relevance over trans-Eurasian cargo movement and energy supplies.

Having said that, the Tehran forum offers a chance to set a road map for strengthening regional integration and confronting trans-regional challenges.

Political and economic unification is the highest form of unity, and for the Caspian countries, it is a catalyst to reducing tensions and preventing foreign interference.

The theories of convergence and economic cooperation consider trade as a key component of peace among nations that fosters understanding, creates interdependence and improves the living standards of citizens.

In fact, peace created through economic and commercial cooperation is more steady and stronger than democracy and the values derived from it to resolve conflicts among nations.

Economic cooperation and the resulting interdependencies not only promote peace but also strengthen it. It is possible to converge the interests of governments through functional economic cooperation and overcome political differences as the root cause of conflicts.

Given the Iranian government's emphasis on a policy of convergence with its neighbors, the Tehran forum is a suitable platform for establishing stronger cooperation on economy and environment.

Iran can use the Caspian Sea's potential to increase trade, develop northern ports, strengthen transit transportation, and jointly exploit energy resources. The forum is an occasion to emphasize the need to develop Iran's transit capacities and its role in connecting regional countries to international markets.

Geopolitically, Iran is located between the Persian Gulf and the Caspian Sea, two strategic regions in oil and gas resources. With 2,000 miles of coastline in the south, it can guarantee easy, direct, and secure access to global markets for the landlocked region of Central Asia.

For the Islamic Republic, expanding economic cooperation among regional countries in order to reduce the effects of sanctions and increase regional exchanges is also of great importance.

On the first day of the forum, seven specialized panels attended by ministers, deputy ministers, representatives of the private sector and economic activists, discuss the development of trade and cooperation in the areas of industry, agriculture, banking and customs, transport and transit, energy, environment, tourism, health, and technical and engineering services.

The panels also examine new opportunities and address challenges facing trade and investment in the region.

The forum is an opportunity to deepen economic relations; facilitate trade exchanges between the Caspian littoral states; improve transport and transit infrastructure; increase joint investments; develop scientific and technological cooperation, and coordinate in environmental areas.

It also provides a platform for major agreements on the exploitation of offshore oil and gas resources and energy-related cooperation.

One critical issue standing above all others is the sustainable management of Caspian resources and addressing the sea’s declining water levels and environmental threats.

The Caspian’s isolation makes it a very unique ecosystem and changes in the sea’s water levels have significant environmental and socioeconomic impacts including damage to coastal businesses, loss of livelihoods, forced migration, and infrastructure deterioration.

The littoral states will ultimately bear the brunt of the consequences if they fail to recognize the sea’s ecological fragility.

In sum, the Caspian Economic Forum is a valuable opportunity for the littoral states to map out new paths for economic development, environmental protection, and increased regional security by emphasizing common challenges and cooperation goals.

Reporter : Editorial of The Iran Project