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The agreement was signed by the Presidents of the Russian Federation, the Republic of Azerbaijan, the Islamic Republic of Iran, the Republic of Kazakhstan and Turkmenistan during the Third Caspian Summit in Baku, Azerbaijan on November 18, 2010.

The Agreement contains a provision that security in the Caspian Sea is the prerogative of the littoral states, which is crucial to Russia's interests.

The document is a framework agreement and a legal basis for cooperation between parties’ agencies in such areas as combating terrorism, organised crime, smuggling, human trafficking and illegal migration, trafficking in weapons of any kind, ammunition, explosives and poisonous substances, military equipment; illicit traffic in narcotic drugs, psychotropic substances and their precursors; the laundering of proceeds of crime; illegal extraction of bioresources (poaching). The agreement also provides for cooperation in maritime and navigation security, and in the fight against piracy.

It is possible to expand this list with other areas of cooperation, except the military aspects of security.

The Caspian is proclaimed to be the sea of peace, stability, friendship and good neighbourliness.

The Agreement does not define the legal status of the Caspian Sea, on which separate negotiations are in progress.

The Agreement reiterates the commitment of the Russian Federation and other Caspian states to develop comprehensive cooperation, one of the most important facets of which is security cooperation in the Caspian Sea.