4th Meeting of the Ministers in Charge of Economy and the 5th Meeting of Working Groups on Economy held their meetings on 19-20 June 2014 in Issyk-Kul, the Kyrgyz Republic.
Deputy Minister of Economy and Industry of the Republic of Azerbaijan Sahib Mammadov, Vice-Minister of Economy and Budget Planning of the Republic of Kazakhstan Timur Zhaksylykov, Minister of Economy of the Kyrgyz Republic H.E. Temir Sariev and Minister of Economy of the Republic of Turkey H.E. Nihat Zeybekci participated at the Meeting. The Meeting was moderated by Halil Akinci - Secretary General of Turkic Council.
Moderated by the Secretariat of the Turkic Council the Working Groups on Economic Cooperation of the Turkic Council, namely the Working Groups on i) Improving the Investment Climate, ii) Diversification of Economy, and iii) Entrepreneurship as the Basis of Economic Relations emphasising on the significance of economic cooperation discussed range of economic issues and ways of improving trade potential among Member States.
Stressing on the importance of economic cooperation among Member States, heads of delegations supported preparation of a Research Paper on investment climate and international trade complementarities of the Member States of the Turkic Council.
They also agreed to sign «Memorandum of Understanding (MOU) amongst Public Authorities of the Member States of the Turkic Council on Cooperation in the Field of Investment Statistics» and «MOU amongst Public Authorities of the Turkic Council Member States for Exploring the Possibilities Regarding Experience Sharing on Investment Climate, and MOU among Small and Medium Sized Enterprise Governmental Bodies of Turkic Council Member States» at the next Meeting of Ministers in charge of Economy of the Turkic Council.
As it was recalled during the Fourth Summit of the Turkic Council held on 5 June 2014 in Bodrum, Heads of State proposed to establish a Joint Investment Fund. In this regard, Ministers in Charge of Economy decided to study this proposal and instructed the Working Groups to discuss the details at their next meeting.
Furthermore, the Ministers welcomed the proposal of National Confederation of Entrepreneurs (Employers’) Organizations of Azerbaijan to organize the Third Meeting of the Turkic Business Council alongside the Third Business Forum of the Turkic Council at the beginning of October 2014 in Baku.
In conclusion, the Ministers thanked Minister of Economy of the Kyrgyz Republic for holding such an excellent event and welcomed the proposal of Kazakhstan to host the next meeting in their country in 2015.
