Russia touts Caspian economic cooperation organization

Russia supports the creation of a Caspian economic cooperation organization, Russia's First Deputy Prime Minister Viktor Zubkov announced during a summit of Caspian Sea states in Astrakhan according to RBC. He believes that such an organization could consolidate the potential of the littoral states - Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan. It could also serve as a platform for a new stage of cooperation facilitating multilateral projects in transportation, environment, trade, energy and bioresources. Within the organization, centers for political and economic Caspian research could be created along with a center for bioresources. To muster the funding for joint projects, the organization could also set up a joint bank.