OTS Backs Kazakhstan’s Proposals to Create New Councils

Last Updated on October 22, 2024 5:37 am

The event was attended by Kazakh Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, as well as delegations from Azerbaijan, Türkiye, the Kyrgyz Republic, Uzbekistan and Hungary, reported the Prime Minister’s press service on Oct. 19.

Baibazarov noted that Kazakhstan prioritizes developing Turkic integration and welcomes initiatives and constructive proposals from fraternal states.

“The Turkic Investment Fund created within the OTS demonstrates a common desire to expand economic and investment cooperation, implement joint investment projects, attract capital, technology and talent for the dynamic growth and prosperity of our countries,” said Baibazarov.

The next meeting of OTS ministers of economy and trade will take place in Turkistan, where the launch of the TURAN special economic zone is scheduled – another Kazakhstan initiative backed by the OTS member states.

The Cooperation Council of Turkic-speaking States was established on Oct. 3, 2009. In 2021, the council was transformed into the Organization of Turkic States.

In January-August, the trade turnover between Kazakhstan and the OTS countries reached $7.2 billion.

Turkic integration covers a wide range of cooperation, including transit and transportation, the economy, environment, science, education, art, tourism, sports, and humanitarian efforts.

Currently, the organization has five member nations and two observer states. Member states include Azerbaijan, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan. Hungary and Turkmenistan are both observer nations.