07.04.26

The total foreign trade volume of the Turkic states has reached $1.2 trillion annually. Meanwhile, the volume of mutual trade between them is estimated at around $57 billion. This was stated by Anas Bakkokhaev, Chairman of the Economic Cooperation Commission of the Parliamentary Assembly of Turkic States and a deputy of the Mazhilis (Parliament) of Kazakhstan, during the 13th meeting of the commission held at the Milli Majlis of Azerbaijan.

According to him, the total gross domestic product (GDP) of the Turkic states amounts to approximately $2.1 trillion annually, accounting for nearly 2% of the global economy.

Bakkokhaev noted that, in addition to expanding mutual trade, the Turkic states have significant potential to increase exports to Asian and European markets. Key priorities include deepening mutually beneficial economic cooperation, boosting internal trade, diversifying economies, and developing small and medium-sized enterprises.

He also added that a number of practical steps are being taken in this direction. These include strengthening the legal framework, enhancing inter-institutional cooperation, and establishing special mechanisms.

According to the information, key initiatives include the Turkic Investment Fund, the Turkic Chamber of Commerce and Industry, the Trade Facilitation Committee, the Digital Economic Partnership Agreement, the establishment of the “Turan” Special Economic Zone, a working group on green finance, and the Turkic Patent Platform.

https://report.az/ru/biznes/tyurkpa-obem-vneshnej-torgovli-tyurkskih-gosudarstv-dostig-1-2-trln