Organization of Turkic States attaches great importance to economic cooperation among the Turkic States and to their economic ties with the rest of the world. Mutually beneficial economic cooperation is the sound basis and the core of Turkic cooperation at large. The Secretariat, in close cooperation with the Ministries in charge of the Economy and other relevant institutions of the Member States, regularly organizes training and experience-sharing programs on various subjects, regularly brings together members of the private sector of the Member States by organizing technical visits for investors/businessmen, holding Business Forums and meetings of the Turkic Business Council, and Round Tables for the Businessmen with the aim of further strengthening economic ties among its members.
Working Group/Ministerial Meetings
Since the establishment of the Organization, a total of 11 ministerial and 13 working group meetings on economic cooperation have been organized under the umbrella of the Organization of Turkic States since its establishment. Close cooperation in this field resulted in the signing of several concerete Memoranda of Understanding on faciliatating trade relations among the Member and Observer States.
At the 7th Summit of the Organization of Turkic States on the theme “Developing Small and Medium-sized Enterprises” (SMEs) held in Baku on 15 October 2019, the Heads of States reiterated their commitment to the purpose of facilitating mutual trade and investment, as well as enhancing cooperation and exchanges among the private sectors; called on the national agencies in charge of trade registry to work on potential cooperation in order to facilitate the cross-border affairs, movements and cooperation of entrepreneurs in the Member States for boosting mutual cooperation and international trade among them. They also instructed Turkic Chamber of Commerce and Industry (TCCI) member organizations to for increasing business programs and projects to increase intra-trade and ensure the socio-economic development of the Member States.
The 10th Meeting of the Ministers in Charge of Economy of the Organization of Turkic States was held on 10 September 2021 in Baku, Azerbaijan. During the meeting, the Ministers held discussions on the agenda items, including “Feasibility Study” and “Agreement Establishing of the Turkic Investment Fund; legal statute and further activities of the Turkic Chambers of Commerce and Industry (TCCI); the establishment of the Turkic Trade Houses in the Member States. The Ministers also elaborated the organization of the Business and Investment Forums in Hungary (Budapest) in 2021 and Kyrgyzstan (Bishkek) in 2022. The Signing Ceremony of the “Memorandum of Understanding on Information and Experience Sharing among Various Types of Economic Zones by the Ministers” and the Award Ceremony of the “Turkic Business Prize” was organized after the meeting. Following the Ministerial Meeting, the Press Conference and presentation of “Research Paper on Trade and Investment Relations among the Organization of Turkic States Member States” prepared by the Secretariat in cooperation with SESRIC were organized with the participation of mass media.
Lately the 11th Meeting of Ministers in charge of Economy and Trade of the Organization of Turkic States (OTS) was held on 9 November 2022, in Samarkand, on the eve of the 9th Summit of OTS. The Economy and Trade Ministers and Deputy Ministers, in the framework of the agenda of the meeting, exchanged their views and expressed positions on establishment of the Turkic Investment Fund, Turkic Trade Houses and “TURAN” Special Economic Zone, establishment of the “Research Center for Trade Cooperation of Turkic States” and the “Engineering and Technologies Centers” on the basis of specialized organizations of OTS Member States. The Parties also discussed and made proposals on the multilateral “Free Trade Agreement on Services and Investments”, “Partnership Agreement on Digital Economy” within the OTS; the enhancing cooperation among investment promotion agencies of the OTS Member States and preparation of joint OTS catalogue of potential investment projects and concrete measures for the development of cooperation in the field of trade and economy set out in the OTS Strategy for 2022-2026. Following the meeting, Heads of delegations signed the Communiqué of the 11th Meeting of Ministers in charge of Economy and Trade of the Organization of Turkic States and endorsed the “Trade Facilitation Strategy Paper” which will develop new measures and initiatives to increase the volume of trade, as well as eliminate trade barriers and restrictions in the Member and Observer States.
During the historic Samarkand Summit of the Organization in November 2022, “Trade Facilitation Strategy Paper of OTS” was adopted in order to increase trade figures among the Member States through simplification and harmonization of trade and customs procedures, among others, as well as to reduce trade costs and expedite clearance of goods. The OTS Heads of States also tasked the relevant Ministries to carry out the proper work, including the necessary analysis in order to continue discussions on the conclusion of the Free Trade Agreement on Services and Investments inline with national legislations of the Member States; and instruct the Secretariat to finalize the Digital Economy Partnership Agreement among the OTS Member States and prepare these Agreements for signing before the next OTS Summit; supported the initiative of Kazakhstan to establish the “TURANSEZ” special economic zone for the Turkic States in Turkistan to strengthen economic cooperation and connectivity among the Turkic States; welcomed the concept of establishing the “Research Center for Trade Cooperation in Turkic Countries” and “Engineering and Technology Center”; welcomed also the initiative to establish Turkic World Investment Forum as a platform providing B2B relations among the investors of the Member and Observer States and third parties which will be held annually, appreciated the activities of the Turkic Chamber of Commerce and Industry (TCCI) to strengthen cooperation among the private sector in the Turkic World, such as the business forums jointly organized with the Secretariat in Shusha and Bishkek, respectively on 16 September 2022 and 14 October 2022; and instruct the relevant Ministries and institutions of the Member States to complete necessary procedures for obtaining the international legal status of TCCI; emphasized the importance of strengthening cooperation among the Member States in the fields of digital economy and the 4th industrial revolution.
The 1st Meeting among the Official Economic Policy Research Centers on Economic Cooperation and Integration in the Turkic World was convened on 17-18 February 2023 in Astana.
The “Information Exchange Programme on R&D and Innovation Support for SMEs” was organized by the Secretariat of Organization of Turkic States (OTS) in collaboration with Small and Medium Enterprises Development Agency (KOSGEB) of Türkiye and support of Turkish Cooperation and Coordination Agency (TIKA) on 3-5 May 2023 in the premises of OTS. During the program, KOSGEB experts shared the experience of Türkiye in R&D, P&D and innovation, technology development center (TEKMER) and the international accelerator, SME techno-investment and industrial application Support Programs, as well as evaluation and M&E system. The participants from countries also made presentations about their activities and SME support mechanism. In addition, the participants visited “FARK LABS” and “T-GATE” technology development centers, where they acquittanced with the mechanisms of consulting, technology investment and financial support.
During 2023, more than 20 online meetings were organized at the expert level to discuss the draft "Partnership Agreement on Digital Economy", the concepts of "TURAN” Special Economic Zone, "Turkic Green Finance Council", "Free Trade Agreement on Services and Investments", the concept of establishment “Trade Cooperation Research” Center, "Cooperation Protocol among Metrology Institutions" and others.
In 2023 "Turkic States Economy" Book is published as a comprehensive exploration prepared by the Center for Analysis of Economic Reforms and Communication (CAERC) in collaboration with the Secretariat of the Organization of Turkic States (OTS).
The 14th Working Groop Meeting on Economic Cooperation and 12th Meeting of Ministers in charge of Economy and Trade of the Organization of Turkic States and “Turkic World Business Forum” was convened on 13-14 September 2023 in Istanbul. During the meeting, the Ministers outlined the role and activities of the OTS Secretariat in implementing the necessary measures and mechanisms for economic integration, expanding trade cooperation within the Turkic region and strengthening the competitiveness of the OTS economies, as well as developing a trustworthy digital environment that will boost e-commerce transactions of the OTS members among themselves and with the rest of the world. The Ministers also emphasized the importance of regional trade through the creation of a "Common Economic Space" and the prioritization of trade facilitation measures, including the establishment of a Trade Facilitation Committee and the signing of a " Partnership Agreement on Digital Economy (e-commerce)" and "Free Trade Agreement (FTA) on Services and Investment" in the OTS region, as well as agreed to strengthen further cooperation in the areas of transport (promotion of Middle Corridor) and customs simplification and harmonization of standards and regulations. In addition, the concept of the project "TURAN Free Economic Zone - TURANSEZ" to be established in the Turkistan region of Kazakhstan was approved, and negotiations on the concept of the establishment of the "Turkic Green Finance Council" are underway. At the end of the meeting, the Ministers signed a “Communiqué of the 12th meeting of Ministers of Economy and Trade of the OTS”.
Moreover, at the 10th Summit of the OTS held on 3 November 2023 in Astana, the “Cooperation Protocol among the Relevant Institutions of the OTS Member States in the field of Metrology” was signed and the concept of establishing the “Research Center for Trade Cooperation in the Turkic Countries” was adopted with the aim of developing concrete proposals and a joint action plan for trade facilitation, the widespread introduction of electronic commerce, and increasing the volume of exports and imports in the Turkic region.
Currently, the OTS Secretariat working on establishing potential institutional cooperation with the leading international organizations functioning in the field of economy, trade and investment, in particular with WTO, OECD, UNIDO, UNECE and etc.
The “Information Exchange Programme on R&D and Innovation Support for SMEs” was organized by the Secretariat of Organization of Turkic States (OTS) in collaboration with Small and Medium Enterprises Development Agency (KOSGEB) of Türkiye and support of Turkish Cooperation and Coordination Agency (TIKA) on 3-5 May 2023 in the premises of OTS.
During the program, KOSGEB experts shared the experience of Türkiye in R&D, P&D and innovation, technology development center (TEKMER) and the international accelerator, SME techno-investment and industrial application Support Programs, as well as evaluation and M&E system. The participants from countries also made presentations about their activities and SME support mechanism. In addition, the participants visited “FARK LABS” and “T-GATE” technology development centers, where they acquittanced with the mechanisms of consulting, technology investment and financial support.
In the first half of 2023, more than 10 online meetings were organized at the expert level to discuss the draft "Partnership Agreement on Digital Economy", the concepts of "TURAN” Special Economic Zone, "Turkic Green Finance Council", "Free Trade Agreement on Services and Investments", the concept of establishment “Trade Cooperation Research” and Engineering & Technology” Centers, "Cooperation Protocol among Metrology Institutions" and others.
Turkic Business Council / Business Forum Meetings
Upon the instruction given by the Heads of States of Organization of Turkic States at the 1st Summit, the institutions representing business communities of the Member States signed on 20 October 2011 in Almaty, the agreement that established the Joint Business Council in order to initiate and oversee multilateral actions of cooperation based on the principle of mutual assistance and support in line with the priorities described in the agreement.
Under the umbrella of the Organization of Turkic States, 6 Business Council meetings and 5 Business Forum gatherings with the participation of more than 500 businessmen have been held so far. Moreover, one technical visit for investors was organized alongside 3 round-table meetings for entrepreneurs of the Member States, as well as various experience-sharing programs among national trade and industry chambers. Recently, the "Turkic Business Forum "Shusha", devoted to the restoration and socio-economic development of the Karabakh region was held on 16 September 2022 in Shusha, Azerbaijan. The Business Forum was co-organized by the Organization of Turkic States, the Turkic Chamber of Commerce and Industry, Ministry of Economy and National Confederation of Entrepreneurs Organizations of the Republic of Azerbaijan (ASK) and attended by senior officials of Chambers of Commerce and Industry as well as more than 200 business representatives from the Member and Observer States. Following the official remarks of the heads of delegations, the forum proceeded with the special session, moderated by OTS, entitled the “Investment opportunities in Karabakh and East Zangazur economic region”.
The “Turkic World Business Forum” was organized in the sidelines of the 12th Meeting of Ministers in charge of economy of the OTS on 14 September 2023 in Istanbul. More than 250 entrepreneurs from Türkiye, Azerbaijan, Kazakhstan, Uzbekistan, Kyrgyzstan and Hungary participated in the business forum and B2B meetings held after the opening ceremony.
The Chairmen of the Chambers of Commerce and Industry of the Turkic States and Ministers underlined the importance of SME support and enhance cooperation among the business communities of the Turkic states and removing trade barriers, facilitating customs procedures and establishing free trade in this region.
Turkic Business Portal
The Organization of Turkic States aims to create an online platform that will practically eliminate physical, bureaucratic and linguistic barriers that hamper the trade among the Small and Medium-sized Enterprises (SMEs) of our Member States. This platform will enable instant communication between SMEs without any intermediaries and collect information by presenting trade potential and gathering activities that are currently dispersed among various other fora under a single web portal. While easing communication and centralizing the relevant information, the Organization of Turkic States will greatly facilitate the increase in speed and volume of commercial interactions.
Turkic Investment and Development Fund
Organization of Turkic States works on the establishment of a financial mechanism that would contribute to increasing mutual investment opportunities among the Member States as well as developing entrepreneurship, especially in Small and Medium-sized businesses (SMEs), by creating new job fields and strengthening innovation and ultimately giving impetus to the economic and social development among the Member States. Therefore, the creation of the Turkic Investment and Development Fund endows the Organization of Turkic States with a powerful financial instrument capable of mobilizing the economic potential of Member States. In this direction, the Secretariat meticulously carried out the establishment procedure of the Turkic Investment Fund. Secretariat, in partnership with the consulting company “Ernst & Young”, prepared the feasibility study, which contains an extensive analysis of the market-competition and demand assessment, investment strategy design, administration and organization, financial model and economic impact of the Fund.
The efforts on the establishment of the Fund has become its final stage in Samarkand Summit of the Organization in November 2022. During the Summit, the Presidents of Turkic States has signed a special decision on the establishment of Turkic Investment Fund and appointed its President. The Turkic Investment Fund will be the first and main joint financial institution established by Turkic States and aims to mobilize the economic potential of Member States of the Organization Turkic States to strengthen the trade and economic cooperation between them and to implement joint projects. It will mainly support small and medium-sized businesses (SMEs) by providing them finance through the Fund’s assets as well as other competent financial institutions. The priorities of the Fund will be fostering entrepreneurship, growth, job creation, research and innovation, socioeconomic development of the Member States.
Turkic Chamber of Commerce and Industry
Turkic Chamber of Commerce and Industry (TCCI), with its headquarters in Istanbul, was officially established in 2019 and is composed of the Chambers of Commerce and Industry and business communities of the Member and Observer States. TCCI is a fundamental mechanism of economic cooperation carried out under the umbrella of the Organization of Turkic States and assigned by the Council of Heads of State to develop sustainable business programs and projects to increase intra-trade figures among the Member States.
TCCI has managed to organize a large-scale Business Forum on 5 October 2019 in Tashkent and on 15 October 2019 in Baku with the participation of government officials as well as more than 500 businessmen. TCCI, which has carried out important activities in a short time since its establishment, discussed the role of TCCI member Chambers and the private sector in the online meeting on April 7, 2020, within the framework of the efforts of the Organization of Turkic States to prevent the undesired effects of the COVID-19 pandemic, and the suggestions were presented to the Heads of State during the Extraordinary Summit of the Organization of Turkic States held on 10 April 2020.
The Presidents of TCCI Member Chambers came together on 2 November 2020 in Baku with the theme of \"A New Era of Social and Economic Development in Azerbaijan\". Representatives of the Turkic Business World exchanged views on the socio-economic development of Azerbaijan\'s liberated lands in Karabakh. After the meeting, as an expression of the support of the Turkic World to the Azerbaijani people affected by the war in Karabakh, an Aid Supply Truck carrying supplies and equipment was sent to the city of Berde.
The 3rd General Assembly of the Turkic Chamber of Commerce and Industry (TCCI) was convened in 2021 in Istanbul. During the meeting, the Heads of the business communities of the Member and Observer States exchanged information on the current state of activities and provided recommendations on strengthening further cooperation within TCCI and between business communities, as well as SME’ development. It was highly appreciated the efforts of each TCCI member for their valuable proposals and involvement in strengthening the role of the organization. The Parties voiced the need to establish an electronic platform between the business communities of the TCCI Members and collaborate on creating digital ecosystems. The OTS Secretariat invited the TCCI member organizations to support the initiatives for the establishment of “Turkic Trade Houses” as a new mechanism to encourage joint trade, investments and entrepreneurship among the Member countries. The Parties welcomed this initiative and proposed to launch a working group to draft the feasibility study and action plan of further activities on realizing this project.
Turkic Trade Houses
The Concept Paper on establishing “Turkic Trade Houses” was prepared by the Secretariat of the Organization of Turkic States that briefly describes the economic potential of the Organization of Turkic States’ Member States and raises trade as a key element for future economic cooperation in the region. The concept also identifies the goals of Turkic Trade Houses, their main activities and functions. The establishment of the “Turkic Trade Houses” will play a significant role in helping the Member States to expand their trade volume, facilitating the export process and strengthening their position in each other markets. Taking into account that the above-mentioned concept of the Turkic Trade Houses was prepared based on the Azerbaijani practice and model, the Secretariat, with the close collaboration of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) currently works on establishment of the first “Turkic Trade House” pilot project in Baku by promoting the project among the private sector.
The further promotion and the implementation of the project will be carried out by the Union of Turkic Chambers of Commerce and Industry (TCCI).
Last Update: 2.08.2024 17:29:31
