(MENAFN- AzerNews) By Nazrin Abdul, AZERNEWS
The total volume of trade turnover of the countries that aremembers of the Organisation of Turkic States (OTS/TDT) is worth 42billion US dollars, and there is potential for increasing thisindicator.
According to Azernews, the Turkish Ambassador to Azerbaijan,Cahit Bagchi, said this at the Economic Forum of Turkish Statesheld in Baku today.
The ambassador emphasised that this organisation contributes tothe development of economic and trade relations between membercountries.
According to him, yesterday, Azerbaijan, Kazakhstan, andUzbekistan signed a Memorandum of Cooperation on the integration ofenergy systems: "Their cooperation once again showed that theregion has a valuable and strategic importance."
C. Bagchi added that the Turkish defence industry has developeda lot: "In this direction, we produce products based on hightechnologies. This advantage can strengthen cooperation between theOrganisation of Turkic States.
The ambassador believes that this forum promotes economicrelations between the countries that are members of theorganisation.
"In addition, we should expand investments."
It should be noted that the Organisation of Turkic States is aninternational intergovernmental organisation that promotescomprehensive cooperation between Turkic-speaking countries. Theorganisation was established on November 1, 2012, based on theNakhchivan Agreement signed by the heads of state ofTurkic-speaking countries at the Summit Meeting held in Nakhchivanon October 3, 2009. When the organisation was created, its name wasCooperation Council of Turkic Speaking States (CCTS). In 2021, thename of the organisation was changed, and it continues to operateunder the name "Organisation of Turkish States".
The Republic of Azerbaijan is one of the 4 founding countries ofthe organisation, and currently the organisation has 5 memberstates: Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, andTurkiye. Hungary, Turkmenistan, and the Turkish Republic ofNorthern Cyprus have observer status in the organisation. Theheadquarters of the organisation is located in Istanbul,Turkiye.
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