Azerbaijan Initiates Creation Of“Made In Turan” Brand
Date
5/22/2024 8:09:42 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 22. Azerbaijan initiatedthe creation of the“Made in Turan” brand in Kazakhstan, unitingtrademarks of the Turkic world, Chairman of the AzerbaijanFranchising Association Jamid Movsumov told Trend .
He noted that the creation of the brand implies a transition tounified labeling of products manufactured by the Organization ofTurkic States (OTS) member countries.
“The introduction of the 'Made in Turan' brand signifies asignificant step forward for brands across the Turkic world,promising increased trade turnover and stronger economic tiesbetween countries. This branding initiative is poised to elevatebrands from Turkic states to global prominence through specialincentives, fostering steady progress and boosting trade within theregion. Ultimately, the 'Made in Turan' brand will enhance theinternational recognition of the Turkic world as a formidableeconomic entity. Additionally, we are planning to establish tradehouses under the brand to further support this initiative,” hesaid.
To note, cooperation among member countries of OTS, home to over200 million people, is expanding across various sectors, includingpolitical, economic, trade, cultural, transport, energy,agriculture, tourism, security, and defense industries.
Situated along the historical Silk Road, Turkic world countriesplay a pivotal role in the increasing trade between East and West,with daily trade turnover between China and European nationsexceeding $1 billion. This strategic location positions the OTS toemerge as a significant economic force in the region, reflected inthe total trade turnover of member countries reaching $536 billionin the global economy.
The OTS member countries are strategically located along theMiddle Corridor route, which holds both global and regionalstrategic importance.
With a combined gross domestic product (GDP) of $1.5 trillionand a trade turnover of $1.2 trillion, OTS member countriescontribute 2.4 percent to the world trade turnover.
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