Azerbaijan approves accord to establish Turkic Investment Fund

Azerbaijani President Ilham Aliyev has approved the agreement "On the establishment of the Turkic Investment Fund".

The information was posted on the official website of the Azerbaijani leader, Caliber.Az reports.

The agreement was signed in Ankara on March 16, 2023.

On June 14, Azerbaijan President Ilham Aliyev received First Deputy Chairman of Türkiye’s Justice and Development Party Binali Yıldırım and discussed further expanding cooperation within the Organisation of Turkic States [OTS] and Yıldırım’s activity within this organisation as the Chairman of the Council of Elders.

OTS, formerly called the Turkic Council, is an intergovernmental organization whose overarching aim is promoting comprehensive cooperation among the prominent independent states it is comprising: Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan.  

Relations between Turkic Council and Azerbaijan started from the year of 2009 and have been lasting to this day.

The main purpose of the activity of the Cooperation Council of Turkic-speaking States is the international intergovernmental organisation, which is to contribute to the comprehensive cooperation between Turkic-speaking countries. The organisation was established in accordance with the Nakhchivan agreement signed at the Zirva meeting of the heads of Turkic-speaking countries held in Nakhchivan on October 3, 2009.

The main activity goals and objectives of the organisation are determined by the Nakhchivan Agreement and consist of:

•    Strengthening mutual trust between the parties;

•    Establishment of peace in the region and the world;

•    Promote a common approach to foreign policy issues;

•    Coordination of the fight against international terrorism, separatism, extremism and transnational crime;

•    Strengthening regional and bilateral cooperation in all areas of common interest;

•    Creating favourable conditions for trade relations and investment;

•    Striving for comprehensive and balanced economic growth, social and cultural development;

•    Expanding mutual relations in the fields of Science, Technology, Education and culture;

•    Promote communication between mess media as well as the exchange of information on a large scale;

•    Expanding the exchange of loyal information, and cooperation in the field of law.