Kazakhstan has proposed new projects focused on green finance and economic development during the 13th meeting of the Ministers of Economy and Trade from the Organization of Turkic States (OTS) held in Bishkek. The meeting featured Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov, along with delegations from Azerbaijan, Türkiye, Kyrgyzstan, Uzbekistan, and Hungary.
A key focus of the discussions was the enhancement of cooperation and economic growth among OTS member states. Baibazarov emphasized Kazakhstan’s commitment to Turkic integration and its openness to constructive initiatives from allied nations.
He highlighted the establishment of the Turkic Investment Fund under the OTS framework, which aims to foster economic collaboration, attract investment, and leverage technology and talent for the development of member countries.
During the meeting, all ministers expressed support for Kazakhstan’s proposals to create a Green Finance Council and a Council of Central (National) Banks among the organization’s member states.
Looking ahead, the next gathering of economy and trade ministers is scheduled to take place in Turkestan, coinciding with the launch of the TURAN special economic zone, another initiative endorsed by the OTS member countries.
For context, the Cooperation Council of Turkic Speaking States was founded on October 3, 2009, and evolved into the Organization of Turkic States in 2021.
As of August 2024, trade between Kazakhstan and the OTS countries reached $7.2 billion. The Turkic Investment Fund, initiated in 2024, marks the first joint financial entity aimed at fostering economic integration among Turkic nations.
The organization currently includes five member states—Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan—as well as two observer states, Hungary and Turkmenistan. Turkic integration encompasses a diverse array of areas, including transit and transportation, economics, ecology, science, education, arts, tourism, sports, and humanitarian efforts.
