OREANDA-NEWS. December 21, 2009. At Baku session of the Caspian-European Integration Business Club (CEIBC) Vladimir Dorokhin, the Russian ambassador to Azerbaijan, has stated that three (Russia, Kazakhstan, and Iran) out of the five Caspian states back absolutely the idea of CECO.

“Azerbaijan is for its establishment but on certain conditions and underlines that it is still necessary to solve the key issue – the mater of Caspian Sea status. Turkmenistan is flatly against. There two options of development of events here – to wait tackling of all problems or to begin working before their solution. Russia’s position is that in the process of economic co-operation it will be accumulated a base for tackling of political problems as well,” Dorokhin aid.

This spring Russian foreign affairs minister Sergei Lavrov claimed that Russia considered the matter of CECO creation actual as it would promote to activation of regional ties.

In his view, when preparing a regular Caspian Summit in Baku the special workgroup participants can elaborate concrete proposals on CECO creation.

Initially in Azerbaijan it was indicated that it would be inefficient to establish CECO without solution of contradictions between its potential participants.

The main contradiction is linked with definition of Caspian Sea legal status and completion of the process of delimitation of its water area and shelf. As a result, it is illogical to set up any organization before Caspian Status Convention is signed. Second, economic basis should be laid under the CECO, in particular provision of maximum effective conditions for development of Caspian Sea hydrocarbons.

Nevertheless, such an approach does not mean that Azerbaijan is in any opposition to CECO and simply demonstrates constructive approach of the country.

CECO is initiated to consolidate potential of Caspian “five” – Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan. CECO can also be a base for new level of the cooperation in the fields of transport, environment, trade, energy and biologic resources within multilateral projects. Within CECO it would be possible to organize interaction between business circles, create the center of Caspian economic and politic researches and the center for researches of biologic resources. Besides, the possibility of establishing a joint bank providing CECO projects with financial support is considered by CECO countries as well.