OTS Announces Simplified Customs Corridor For Turkic Nations

2024-11-30 03:08:04

(MENAFN- AzerNews) The Organization of Turkic States (OTS) has officially announced the entry into force of the Agreement on the establishment of a Simplified Customs Corridor between Turkic-speaking countries, Azernews reports.

In a statement titled“A Step Forward for Stronger Trade Cooperation and Transport Connectivity”, the OTS expressed its satisfaction with the development, which follows the signing of the Agreement during the OTS Summit in Samarkand on November 11, 2022. The agreement came into effect on November 29, 2024.

The initiative aims to bolster trade among Turkic nations by streamlining customs procedures, promoting digital information exchange, and reducing transit times. This milestone is expected to enhance economic integration and facilitate efficient transport connectivity across the Turkic world, reflecting the organization's commitment to fostering regional cooperation.

The OTS's announcement highlights the significance of this agreement in strengthening economic ties within the Turkic community.

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