OTS official says intra-bloc trade lags behind economic potential despite growth

Trade and economic cooperation among member states and observers of the Organization of Turkic States (OTS) remains significantly below its potential despite the group’s growing combined economic capacity, an OTS official has said.

Speaking at the 3rd Meeting of Heads of Competition Authorities of the OTS and the Competition Forum in Shusha, Deputy Secretary General Merey Mukazhan said deeper economic integration is needed to strengthen the bloc’s position in the global economy, Caliber.Az reports via local media.

Mukazhan stressed the importance of competition policy and the role of antimonopoly institutions in supporting economic development.

“Antimonopoly authorities play a crucial role in this process. Effective competition policy helps stimulate innovation, increase productivity, strengthen investment flows, and protect consumer rights,” Mukazhan stated.

He said that economic modernisation, improved digital connectivity, and support for innovation remain central priorities for the organisation.

“Economic modernisation and digital connectivity must be at the centre of the regional agenda. Economic cooperation will be one of the key topics of the 13th Summit of the Organization of Turkic States, which will be held this year in Türkiye. The organisation continues to consistently take steps to create a more integrated and future-oriented financial ecosystem. The support and expertise of competition authorities are particularly important in this process. The development of regional competition policies can contribute to the harmonisation of member states' approaches and the elimination of cross-border problems,” noted the deputy secretary general of the OTS.

By Sabina Mammadli