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President of Russia Vladimir Putin: I would like to thank the President of Azerbaijan for the idea of holding such summits and thank my Iranian colleague for organising the second summit of the leaders of Azerbaijan, Iran and Russia.

I believe such regular meetings in this format are very much in demand. They make it possible to coordinate positions on the most acute issues on the regional and international agenda, conduct a constructive search for solutions to shared problems in the sphere of security and the fight against terrorism, and promote trade, economic, cultural and humanitarian cooperation.

The main areas of trilateral cooperation are reflected in the Joint Statement that we will sign following today’s summit. I would like to point out several things I consider important.

No doubt, ensuring regional stability and security is one of our principal tasks. It is necessary to improve coordination of the activity of [our] intelligence and law enforcement agencies, establish an intensive data exchange on the activity of international terrorist and extremist organisations, fight drug trafficking and transnational crime, and stop the attempts to transit militants via our countries.

It is important to continue dialogue on Caspian problems – our colleagues just talked about that – and finish the work on the Convention on the Legal Status of the Caspian Sea as soon as possible.

Needless to say, special priority should be given to promoting mutually beneficial trade and economic cooperation. Last year, Russian-Iranian trade was up 70 percent; in the [first] eight months of this year, Russia’s trade with Azerbaijan increased by 62 percent; Azerbaijani-Iranian trade is also marked by stable positive trends.

In order to further stimulate trilateral exports and imports, it is necessary to streamline customs procedures and eliminate the existing barriers to the free movement of goods and services.

We could also consider increasing the share of national currencies in mutual financial settlements, fostering closer ties between financial and banking institutions and getting business communities in the three countries more actively involved [in these processes].

Transport infrastructure offers good opportunities for developing cooperation. I am referring primarily to the initiative of building the western section of the North-South international corridor – our colleagues just talked about that – which is indeed one of the shortest and potentially the most commercially competitive transit routes from South Asia to Europe.

We support Iran’s plans to begin the construction of the last section of the western Caspian route – the Rasht-Astara railway line. The implementation of this project will make it possible to organise transit more effective and reduce delivery costs.

We see good prospects for deepening energy cooperation. Russia, Iran and Azerbaijan are firmly entrenched in leading positions in the world in terms of hydrocarbons production. I believe that joint prospecting and development of oil and gas deposits and the launching of joint projects in energy production and transit are in our common interests.

Building the Russia-Azerbaijan-Iran energy bridge, integrating our countries’ electric energy systems, remains a priority. Putting this initiative into practice would help enhance energy security of the entire region and ensure reliable energy supplies.

Among other much-needed areas I will single out cooperation in such areas as industry, agriculture, high technology, medicine and drug production. Positive examples of such cooperation have already been mentioned.

Considerable attention should be given to cultural cooperation, the implementation of joint cultural programmes, expanding tourism and youth exchanges and sport contacts and promoting the expansion of direct regional ties between the three countries.

Colleagues, I would like to express my confidence that cooperation between Russia, Azerbaijan and Iran will continue to develop steadily, acquiring a systemic and regular nature.

In closing, I would like to invite you to attend the next trilateral summit in Russia.

Thank you.