ASTANA – President Kassym-Jomart Tokayev chaired the inaugural meeting of the Council of Central (National) Banks of the Organization of Turkic States (OTS) on May 27 in Astana, reported Akorda.
Photo credit: gov.kz
Opening the meeting, President Tokayev emphasized the importance of strengthening ties among OTS member states, especially amid ongoing transformations in the global economy driven by shifts in tariff policies.
“These unprecedented changes present not only serious challenges but also new opportunities. To respond effectively, we must coordinate our efforts across key sectors such as transport and logistics, agriculture, digitalization, and finance,” Tokayev said.
He recalled the outcomes of the recent informal OTS summit in Hungary, where member state leaders reaffirmed their commitment to closer cooperation. He expressed confidence that enhanced dialogue between central banks would lay a solid foundation for realizing the economic potential of the Turkic world.
Tokayev highlighted the growing global economic presence of OTS nations.
“Our countries’ combined share of global GDP has increased from 2.4% in 2010 to 3.1%. The steady growth of international reserves among OTS states demonstrates rising macroeconomic resilience across the region,” he said.
He also pointed to the role financial cooperation could play in catalyzing broader economic and investment partnerships.
“Central banks are well positioned to drive this effort,” he noted.
Tokayev welcomed the Council’s focus on relevant issues, including monetary policy, financial technology, and the development of digital currencies and assets. Kazakhstan, he said, has made considerable progress in this area.
“Cashless payments now account for 85% of all transactions in Kazakhstan. The National Bank was the first in the region to launch a central bank digital currency — the digital tenge,” Tokayev said.
He added that Kazakhstan plans to adopt new regulations to ensure the secure use of digital assets, including cryptocurrencies, stablecoins, and tokenized financial instruments.
The event brought together top financial officials from across the region, including Chairman of the National Bank of Kazakhstan Timur Suleimenov, Chairman of the Central Bank of Azerbaijan Taleh Tahir oghlu Kazimov, Chairman of the National Bank of the Kyrgyz Republic Melis Turgunbaev, Governor of the Central Bank of Türkiye Fatih Karahan, Chairman of the Central Bank of Uzbekistan Timur Ishmetov, and Executive Director of the Central Bank of Hungary Gábor Soós.
