Prime Minister Ali Asadov has met with participants of the Council of Central Bank Governors of the Organization of Turkic States (OTS) member countries in Baku.
According to the Operative Information Center-OMM, the Cabinet of Ministers reported that the meeting highlighted the significance of the Council's session, expressing confidence that the event would contribute to strengthening cooperation between the financial sectors of OTS member states and enhancing the role of central banks in this process.
During the discussions, the parties noted with satisfaction the successful development of cooperation across various directions, based on mutual trust and shared interests among OTS member states. It was emphasized that within the framework of Azerbaijan's chairmanship of the OTS this year, special attention is being paid to further expanding ties in economic, trade, investment, transport, energy, financial, humanitarian, and other spheres.
The meeting also addressed the consistent reforms implemented in Azerbaijan to modernize the financial and banking sector, as well as achievements in improving the quality of financial services, increasing transparency, and strengthening the stability of the banking system. Furthermore, the participants discussed future prospects for developing cooperation in the financial and banking sector within the OTS framework.
The Organization of Turkic States, formerly known as the Turkic Council, serves as a crucial intergovernmental organization promoting comprehensive cooperation among Turkic-speaking countries. Since Azerbaijan's active involvement, the organization has increasingly focused on economic integration, including the establishment of a joint investment fund and the harmonization of financial regulations to bolster regional economic resilience.
