14:59 - 24.10.2025

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October 24, Fineko/abc.az. Along with deepening of trade relations, expansion of mutual investment activities between the member countries of the Organization of Turkic States has become an important area of economic integration.

ABC.AZ reports that Azerbaijani Economy Minister Mikayil Jabbarov made this statement at the 2nd meeting of OTS Ministers of Industry, Science, Technologies & Innovations in Baku.

According to the miniter, the Turkic Investment Fund with capital of $600 million became the first joint financial institution of the Turkic states.

"All this is aimed at strengthening mutual economic cooperation between the member states, increasing investments in strategic areas and supporting regional development. Azerbaijan has also established bilateral investment funds with Uzbekistan, Kyrgyzstan and Kazakhstan. These mechanisms create conditions for increasing the flow of capital between our countries, co-financing industrial projects and implementing mutual investment initiatives."

Jabbarov noted that cooperation within the OTS is developing rapidly and brings tangible benefits to the countries:

"Over the past 9 months of this year, dynamics of growth of Azerbaijan's trade turnover with the OTS countries continued. The heads of state have set a goal to further enhance this dynamic. In this context, Azerbaijan is taking important steps towards deepening economic ties with the Turkic states and simplifying mutual trade."

The minister recalled that there is a Preferential Trade Agreement between Azerbaijan and Turkey, and free trade agreements with other countries. These measures facilitate trade, accelerate the growth of trade turnover and help to develop joint projects and production.