ASTANA – The Turkic States Competition Council was established in İstanbul on Jan. 23 under the Organization of Turkic States (OTS) at the initiative of the Turkish Competition Authority, reported Kazinform.
At the council’s inaugural meeting, participants agreed on the fundamental principles of the council’s activities and a roadmap.
Turkish Trade Minister Ömer Bolat highlighted that the collective national income of the Turkic states reached $1.5 trillion.
He underscored the strategic location of the Middle Corridor, a crucial global trade route passing through the territories of the Turkic states, which opens up great opportunities for advancing trade and economic collaboration.
Bolat emphasized a significant increase in trade volume between the Turkic states in recent years, surging from $33 billion in 2022 to $42 billion in 2023.
The meeting was attended by representatives from the authorized bodies of OTS member countries, such as Azerbaijan, Kazakhstan, the Kyrgyz Republic, Türkiye, and Uzbekistan.
According to the Ministry of Economy of Azerbaijan, Türkiye will chair the council for three years. The parties also agreed to hold the next meeting in Azerbaijan’s city of Shusha.