OTS Supports Kazakhstan’s Plan for New Councils
Ministers of Economy and Trade from the Organization of Turkic States (OTS) recently gathered for their 13th meeting in Bishkek, where they expressed their support for Kazakhstan’s initiatives to create a Turkic Green Finance Council and a Central (National) Banks Council for OTS member states. The meeting, which took place on Oct. 18, was attended by various delegations including Azerbaijan, Türkiye, the Kyrgyz Republic, Uzbekistan, and Hungary.
Kazakh Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov highlighted the importance of Turkic integration and the significance of collaboration among fraternal states. He emphasized the value of the Turkic Investment Fund within the OTS, which aims to enhance economic and investment cooperation, implement joint projects, and attract resources for the growth and prosperity of member countries.
The next meeting of OTS ministers of economy and trade is scheduled to take place in Turkistan, where the launch of the TURAN special economic zone, a Kazakhstan-led initiative supported by OTS member states, will be discussed. The Cooperation Council of Turkic-speaking States was established in 2009 and later transformed into the Organization of Turkic States in 2021.
Trade between Kazakhstan and OTS countries has been thriving, with the trade turnover reaching $7.2 billion in the first eight months of this year. Turkic integration encompasses various areas of cooperation such as transit, transportation, economy, environment, science, education, art, tourism, sports, and humanitarian efforts.
The OTS currently consists of five member nations – Azerbaijan, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan – with Hungary and Turkmenistan serving as observer states. The organization continues to promote collaboration and mutual support among Turkic-speaking countries, driving economic growth and development in the region.
