Azerbaijan's total trade turnover with member states of the Organization of Turkic States (OTS) increased by more than 5 percent last year, reaching $7.3 billion.
Operative Information Center-OMM reports that Prime Minister Ali Asadov announced these figures during his speech at the second meeting of the Heads of Government and Vice Presidents of OTS member states. The Prime Minister emphasized that expanding trade and investment ties among member countries remains a priority for the region's economic integration.
"In recent years, a positive dynamics has been observed in this direction. Last year, Azerbaijan's total trade turnover with OTS member countries increased by more than 5 percent, totaling $7.3 billion. Furthermore, the total volume of investments made by Azerbaijan in the member states amounts to $21 billion," Ali Asadov stated. He also noted that joint investment funds established with several partner countries serve to expand mutual investment in priority areas and further strengthen economic cooperation.
Regarding future prospects, the Prime Minister highlighted that the current potential far exceeds these figures. "Increasing mutual trade turnover, promoting investment projects, deepening industrial cooperation, and expanding collaboration in agriculture, the digital economy, small and medium enterprises, innovation, and high technologies will allow us to fully realize our economic potential," he added.
The Organization of Turkic States, formerly known as the Turkic Council, has become an increasingly vital platform for Azerbaijan to foster multilateral cooperation in Eurasia. Since its transformation in 2021, the OTS has focused on enhancing the Middle Corridor transport route and energy security, positioning Azerbaijan as a central hub connecting Central Asian economies with European markets. This economic growth aligns with Azerbaijan's broader strategy to diversify its economy and strengthen ties within the Turkic world.
