The intra-trade between the members of the Organization of Turkic States (OTS) posted a major rise lately, leaping from $33 billion (TL 999.25 billion) in 2022 to $42 billion in 2023, however boosting it much more would profit all of the nations concerned, the Turkish commerce minister mentioned on Tuesday.
Speaking in Istanbul on the first assembly of the Council of Competition Authorities of Member and Observer States of the OTS, Ömer Bolat mentioned the present commerce between OTS members is a small slice of member nations’ worldwide commerce.
“If we unite our power more and increase our solidarity, we will be more influential in the world arena. Our unity is our strength. We must not forget this principle,” he urged.
“As the OTS, our young population of 170 million, our total national income of $1.5 trillion, our rich natural resources and our presence on the world’s most important trade route, which we call the Middle Corridor, are great opportunities for us to further develop our trade and economic cooperation,” he famous.
He additionally recalled the Turkic World Vision 2040, which was permitted by the Heads of State on the summit of OTS in 2021, when the group’s identify was modified from the previous Turkic Council to the Organization of Turkic States.
As acknowledged within the Turkic World-2040 Vision Document, OTS goals to strengthen the atmosphere of mutual belief within the Turkic world, strengthen political solidarity, speed up financial and technical cooperation alternatives, present wholesome buildings to human relations and make sure the broadest doable use of the historic and cultural accumulations of the Turkic world.
The minister additionally expressed satisfaction with the numerous curiosity and demand from member nations for Türkiye’s first domestically produced electrical car, Togg.
Noting that the Competition Council of Turkic States has now been formally established, Bolat acknowledged that this council will undertake a vital mission when it comes to sharing data and expertise in financial ties, commerce relations, manufacturing and following worldwide developments.
“Our Competition Authority carries out important activities in developing countries in terms of spreading the culture and understanding of competition and establishing institutionalization,” he added.
“The Trade Ministry is following and supporting all these developments with appreciation.”
OTS, whose founding identify was Cooperation Council of Turkic Speaking Countries (in brief, Turkic Council), was established on Oct. 3, 2009 with the Nakhichevan Agreement signed by Azerbaijan, Kazakhstan, Kyrgyzstan and Türkiye.
Uzbekistan attained membership within the group in 2019, whereas EU member Hungary, Turkmenistan and the Turkish Republic of Northern Cyprus (TRNC) have observer standing.
Source: www.dailysabah.com