OTS Backs Kazakhstan’s Proposals to Create New Councils
Ministers of Economy and Trade of the Organization of Turkic States (OTS) supported Kazakhstan’s initiatives to create a Turkic Green Finance Council, as well as a Central (National) Banks Council of the OTS member states during their 13th meeting on Oct. 18 in Bishkek.
The event, held on Oct. 19, was attended by Kazakh Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, along with delegations from Azerbaijan, Türkiye, the Kyrgyz Republic, Uzbekistan, and Hungary, according to the Prime Minister’s press service.
Baibazarov emphasized that Kazakhstan places a high priority on strengthening Turkic integration and is open to initiatives and constructive proposals from fellow member 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 be held in Turkistan, where the launch of the TURAN special economic zone, another Kazakh initiative supported by OTS member states, is scheduled.
The Cooperation Council of Turkic-speaking States, founded on Oct. 3, 2009, was transformed into the Organization of Turkic States in 2021.
Between January and August 2023, trade turnover between Kazakhstan and OTS countries amounted to $7.2 billion.
Turkic integration spans various sectors, including transit, transportation, the economy, environment, science, education, art, tourism, sports, and humanitarian efforts.
The OTS currently consists of five member states: Azerbaijan, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan, with Hungary and Turkmenistan holding observer status.
