Today, we should focus our efforts on tackling practical tasks of the Caspian Sea development, President of Turkmenistan Gurbanguly Berdimuhamedov said, speaking at the International Conference entitled ‘The Caspian Sea: Development of International Economic Cooperation”. The head of state set an important task of giving powerful impetus to energy cooperation. - The Caspian Sea is extraordinary rich in hydrocarbon resources; its vast untapped offshore and onshore reserves, if used effectively, can lend strong impetus to the dynamic and sustainable growth of the littoral states’ national economies and those of their neighboring countries and provide everything necessary to build new production and industrial facilities, the Turkmen leader said. The Caspian Sea’s energy resources should serve as a basis for the region’s economic development, President Gurbanguly Berdimuhamedov stressed. The head of state emphasized that this will lead to job creation, quality-of-life improvements for the people, and will ensure building social facilities, such as schools, kindergartens, and hospitals. The industrial development, which depends, to a large extent, on increased hydrocarbon production, can substantially change the entire economic landscape in this part of the world and integrate the Caspian Sea into the global economic space as an equal and effective partner, President Gurbanguly Berdimuhamedov said.