Speaking during the V Summit of the Caspian Littoral States in Aktau, President of Turkmenistan Gurbanguly Berdimuhamedov emphasized that the meeting was of particular significance for the five states. “The hard work on the Convention of the Legal Status of the Caspian Sea has completed. For many years, diplomats, lawyers, experts in various fields participated, who managed to show high professionalism, the readiness for compromise and consideration of the interests of partners have developed this document. “The decisive condition for our common success was the political will and the high responsibility of the leaders of the Caspian states. “We have to understand that we have to do a large-scale and very important work. We have to work out the algorithm of cooperation in separate areas” said the Turkmen leader, specifying some of them. The documents ready for signing today includes the provision on a mechanism of five-sided regular consultations under the auspices of the ministries of foreign affairs. In this regard, the Turkmen leader suggested that the foreign ministries of the five countries should be instructed to consider the practical implementation of this provision in the nearest future after the summit. The Turkmen leader also noted that the five-way cooperation on the Caspian Sea largely depends on our countries’ level of involvement in trade, economic and transport processes. In this regard, President Gurbanguly Berdimuhamedov thanked the Caspian states that supported Turkmenistan's initiatives put forward in the framework of the IV Caspian Summit on the elaboration of the agreements on trade and economic cooperation between the Caspian states and on cooperation in sphere of transport. President Gurbanguly Berdimuhamedov expressed belief that the first Caspian Economic Forum in 2019 will confirm the readiness of our countries to consolidate the efforts in this direction and proposed to hold this forum in Turkmenistan.