Official: OTS targets stronger trade ties through Middle Corridor, investment

The Organization of Turkic States (OTS) is prioritising the development of transport, logistics and investment links as it seeks to increase trade among its member countries, OTS Secretary-General Kubanychbek Omuraliyev said.

According to Omuraliyev, several projects aimed at strengthening transportation and logistics infrastructure are currently being implemented across the organisation, Caliber.Az reports via local media.

“To increase trade volumes, the development of logistics, transportation, and investment is essential. In this regard, the Middle Corridor plays a major role,” Omuraliyev said.

The Middle Corridor, also known as the Trans-Caspian International Transport Route, links China and Central Asia with the South Caucasus and Europe. Omuraliyev described the route as a revival of the historic Silk Road.

“Work is currently underway on the China-Kyrgyzstan-Uzbekistan railway project and other segments of the Middle Corridor. The Middle Corridor has enormous potential. If it reaches full capacity in the near future, the volume of freight traffic along this route could reach 15 million metric tons,” he said.

Omuraliyev also highlighted the role of the Turkic Investment Fund, which has capital of $600 million. He said the fund has begun operations and is expected to support small and medium-sized businesses and entrepreneurship across the region.

The OTS is also working on digitalisation, simplifying customs procedures and standardising transport tariffs, according to the secretary-general.

He said the organisation is using mechanisms involving customs cooperation and a platform bringing together transport ministers from member states.

“Last year, we established an association of private logistics companies. Currently, the private sector and government agencies are working closely together. I hope we'll see the results of this work soon,” Omuraliyev said.

By Sabina Mammadli