14.02.2025 Baku Azerbaijan

In Baku, the capital of Azerbaijan, the “Informative Meeting for Business Leaders of the Organization of Turkic States (OTS)” was organized by the Azerbaijan National Confederation of Entrepreneurs (ASK). Speaking at the event, where a memorandum of understanding was signed between the Turkic Chambers of Commerce and Industry (TCCI) and the Turkic Investment Fund (TIF), M. Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and Honorary President of TCCI, said that the cooperation of TIF member countries will continue to increase.

Hisarcıklıoğlu stated that TIF, which is the first joint finance established by the OTS, aims to strengthen the commercial and economic cooperation between them and develop joint projects by mobilizing the economic potential of the member states.

Stating that TIF will support the solution of financial problems of business people, Hisarcıklıoğlu noted that it would be useful for the fund to support public-private partnership projects, modernization of customs gates, logistics and transportation issues.

Emphasizing that areas such as food security, solution of drought and water problems, artificial intelligence, information and communication technologies should also be supported by the fund, Hisarcıklıoğlu stated that all barriers to trade should be removed for the Turkic world to become stronger.

- Action taken to contribute to cooperation

In addition to Hisarcıklıoğlu, Deputy Minister of Economy of Azerbaijan Elnur Aliyev, Secretary General of the OTS Kubançbek Ömüraliyev, President of TCCI Mammad Musayev, President of TIF Bagdad Amreyev, Turkish Ambassador to Baku Birol Akgün, officials and business people from OTS member countries attended the event.

In his speech at the event, Deputy Minister of Economy of Azerbaijan Aliyev stated that the development of economic cooperation of the OTS member countries will increase the welfare of the peoples of these countries. Aliyev noted that they believe that the Turkic Investment Fund will contribute to the development of economic cooperation between the OTS countries and that they will provide all kinds of support in this regard.

OTS Secretary General Ömüraliyev said that the development of economic relations is of great importance for the OTS countries. Ömüraliyev stated that the trade between the OTS countries does not reflect the potential and more efforts should be made to increase investments and trade.

TIF President Amreyev stated that they aim to achieve economic development and economic integration of the Turkic world. Amreyev said that they have long-term visions and goals, but they are still at the beginning of the road and emphasized the importance of areas such as digital economy and artificial intelligence.

At the end of the event, TCCI President Musayev and TIF President Amreyev signed a memorandum of understanding for cooperation between the two organizations.