OTS chief advocates for increased investments in regional projects

The Turkic Investment Fund and the Union of Turkic Chambers of Commerce and Industry (TCCI) are set to sign a Memorandum of Understanding (MoU) aimed at bolstering economic cooperation and driving investments in the member states of the Organisation of Turkic States (OTS).

This announcement was made by Kubanychbek Omuraliev, Secretary General of the Organisation of Turkic States (OTS), during an information session for business leaders in Baku, Caliber.Az reports via local media.

Omuraliev emphasized that the MoU would formalize the partnership between the key economic entities within the OTS and expedite investment flows across the region. He noted that the activation of the Turkic Investment Fund would play a crucial role in supporting small and medium-sized enterprises (SMEs), financing critical infrastructure projects, and expanding trade and investment opportunities within OTS member states.

"The activation of the Turkic Investment Fund will support small and medium-sized businesses, finance key infrastructure and economic projects, and expand trade and investment opportunities," Omuraliev stated.

Furthermore, Omuraliev highlighted that the fund would prioritize financial backing for innovative projects in various sectors, including industry, logistics, energy efficiency, information and communication technologies, and the green economy.

He also called on business leaders from OTS countries to increase their investments in regional projects, emphasizing the importance of collaboration in fostering economic growth. "The volume of trade between OTS members is currently only 7 per cent of total exports, and to increase this indicator, it is necessary to attract more investments," Omuraliev remarked.

By Vafa Guliyeva