(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 22.​ Azerbaijan has invested more than $20 billion in the economies of Turkic states in recent years, the country's Deputy Finance Minister Azer Bayramov said, Trend reports.

Speaking during a scientific-practical conference on“Economic Foundations of State Sovereignty and Economic Independence,” dedicated to the“Year of Constitution and Sovereignty,” held at the Parliament Committee on Economic Policy, Industry, and Entrepreneurship, Bayramov noted that the establishment of a Turkic Investment Fund is planned to expand investment opportunities among members of the Organization of Turkic States (OTS), implement joint projects, facilitate access to national markets, promote intra-regional trade, and support economic activity.

“In recent years, Azerbaijan has financed bilateral projects with members of the OTS to develop export-oriented products in areas of shared interest. To support these efforts, the Azerbaijan-Uzbekistan Investment Fund was established. Likewise, the Azerbaijan-Kyrgyz Development Fund was created to enhance economic cooperation between Azerbaijan and Kyrgyzstan while promoting and advancing the mutual economic interests of both nations,” the deputy minister emphasized.

The Organization of Turkic States (OTS) is an intergovernmental entity that includes all but one of the internationally recognized Turkic sovereign nations. The primary objective is to foster extensive collaboration among the Turkic nations. The General Secretariat of OTS is situated in Istanbul, Türkiye.

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