BAKU, Azerbaijan, April 7. The gross domestic product (GDP) of the Organization of Turkic States (OTS) exceeds $2.1 trillion, and the share of the Turkic states in the global economy is about 2%, the Chairman of the TURKPA Commission for Economic Cooperation, Kazakh MP Anas Bakkojayev said at the 13th meeting of the commission on the topic "Realities and prospects for the implementation of joint economic activities of the TURKPA Member States" today, Trend reports.
He noted that the volume of mutual trade between the Turkic states is approximately $57 billion. The total volume of foreign trade of the Turkic states is $1.1 trillion.
The MP emphasized that there are various beneficial effects that contribute to economic development between the countries. The identification of areas is based on the systematic establishment of bilateral and multilateral economic cooperation:
"In this framework, the development of economic cooperation leads to the expansion of mutually beneficial economic and trade relations. It's important to form a legal framework for economic relations. Various organizations are being created to strengthen mutual relations between the Turkic states. Concrete projects are being implemented to strengthen economic activities," he explained.
Bakkojayev added that these processes serve to further strengthen economic ties in the Turkic world, deepen ties, and accelerate overall development.
"The main goal is to promote joint activities between countries, more effectively reveal economic potential, and expand cooperation. In particular, coordination of such activities and study of existing issues among member states are of great importance.
The work done in this direction will have a positive impact on the development of our countries. Expanding cooperation in various fields will ensure the sustainability of this process," he concluded.
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