OTS Council of Elders chief calls for stronger trade links among Turkic States

Binali Yildirim, Chairman of Council of Elders of the Organization of Turkic States (OTS), has called for a significant boost in trade ties among Turkic nations, highlighting untapped economic potential within the bloc.

Speaking to reporters following the 18th session of the OTS in Baku, Yildirim noted that while the total trade volume of Turkic states exceeds $1 trillion, trade among the member countries themselves accounts for only $70 billion, Caliber.Az reports per local media.

“Turkic states have enormous potential in terms of trade. Our goal is to further strengthen and develop this area,” he said.

Yildirim attributed the disparity to a tendency among Turkic states to prioritize commerce with third countries rather than trading within the bloc, emphasizing the need for policies and initiatives to foster greater economic integration.

By Vafa Guliyeva