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Vladimir Putin: How do you see the progress in preparing the document on the Caspian?

Nursultan Nazarbayev: In 1998 we signed the basic treaty on the division of the Caspian mineral resources along the median line equidistant from the shores. It is a time-tested approach in world practice. I think the document being signed marks a breakthrough in the solution of the Caspian problem, especially in the wake of the Ashgabad summit. First, it solves the issue and the Caspian Sea and its resources are again being shared. It is a shared and demilitarized sea. And we jointly tackle the issue of environmental and biological resources.

Second, the mineral resources on that line are shared by Kazakhstan and Russia. Today we signed an agreement on three fields and we have equally divided the resources there. That dramatically elevates the economic relations between Russia and Kazakhstan to a much higher level. I don’t think Russia or Kazakhstan have such contracts with any other CIS states. That is all I can say.

Vladimir Putin: I think you have identified the absolutely correct priorities. You began by mentioning the problems of the environment which were stressed by Heydar Aliyev back in Ashkhabad. In addition to economic issues, when looking at the Caspian problems, we must give priority to the use of the resources and the environment of the Caspian Sea. The Caspian ecosystem is very vulnerable and needs special regulation. That issue can only be effectively addressed by combining our efforts because it is impossible to exploit the resources there without affecting the interests of our neighbours. We are aware of it and these are our priorities in approaching the issues of the Caspian as a whole.

Nursultan Nazarbayev: It has to be noted that our experts have been working hard. It was not easy to determine the median line because there are meridian-based methods and there are the shoreline-based methods. But our governments have found a way out. I think it owes much to the mutual trust and the relations between Kazakhstan and Russia.

Vladimir Putin: I must say that our bilateral meeting with you in Almaty was very constructive because the proposals you spelled out there have provided the basis for this document.

Nursultan Nazarbayev: In that case I would like to reciprocate with a compliment. But for your decision and your political will we would never have resolved this issue because there are many nuances. And for the benefit of the media present here I would like to say the following. The Kurmangazy field, which we will develop together with Russia, is a colossal project and you will hear a lot about it in the days to come. I must say that in this way we offer all the world investors an opportunity to come there and work confidently. We will develop the two other fields likewise on the basis of parity.