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The Presidents discussed prospects for the further development of cooperation between Russia and Azerbaijan in the economic, cultural, scientific and educational spheres. The discussion focused on the development and protection of the Caspian resources.
The Presidents also dwelt on the preparations for the October summit of CIS countries’ leaders to be held in Chisinau, the fight against international terrorism, the situation in the Caucasus and other aspects of bilateral relations and international cooperation.
Following the talks, the Presidents signed a bilateral agreement on the demarcation of adjacent sectors of the Caspian seabed.
Under the agreement, the seabed and its resources are divided between Russia and Azerbaijan along the equidistant line modified by an agreement between the sides with due consideration for the generally recognised principles of international law and common practices on the Caspian Sea. The document stipulates that the sides exercise their sovereign rights with regard to the development of mineral resources and other legitimate economic activity connected with the use of seabed mineral resources within their seabed sectors up to the demarcation line.
In the presence of Vladimir Putin and Heidar Aliyev, the ministers of Russia and Azerbaijan signed a number of intergovernmental agreements.
At a joint news conference, the Russian President said that the application of the formula “we divide the seabed, with water being the common asset” and the principle of a stage-by-stage transition would finally lead to a mutually advantageous decision on the status of the Caspian Sea for the benefit of all coastal states.
President Putin expressed satisfaction with the intensive development of Russian-Azerbaijani cooperation in various fields. He stressed that bilateral relations were hardly burdened by any problems that were difficult to resolve. The Russian President expressed certainty that the spirit of mutual trust would help to settle the remaining issues.
September 23, 2002, The Kremlin, Moscow