BAKU, Azerbaijan, October 24. Expanding mutual investment activities between member countries of the Organization of Turkic States (OTS) has become an important direction for economic integration, the Azerbaijan Minister of Economy, Mikayil Jabbarov, said at the 2nd meeting of ministers of industry, science, technology, and innovation of the member countries of OTS in Baku, Trend reports.
“The Turkic Investment Fund, with a total capital of $600 million, is the first joint financial institution created by the Turkic states. Its goal is to strengthen mutual economic cooperation between participating countries, increase investment in strategic industries, and support regional development,” he emphasized.
The minister noted that Azerbaijan has also established joint bilateral investment funds with Uzbekistan, Kyrgyzstan, and Kazakhstan.
“These mechanisms contribute to the growth of capital flows between our countries, joint financing of industrial projects, and the implementation of mutual investment initiatives,” Jabbarov said.