Economy: Turkic states agree on joint infrastructure funds


Turkic states are planning to set up a joint infrastructure fund. This was announced by the Turkish Minister for Economic Affairs at the seventh meeting of the Economics Ministers of the member countries of the Turkish Council.

A corresponding agreement was reached at the meeting, explained Nihat Zeybekci. The organisational work for the creation of the fund will be entrusted to the Turkish Eximbank.

With regard to cooperation with the Turkish-speaking countries, the Turkish Minister for Economic Affairs also noted that Turkey in particular expects all work under the preferential trade agreement with Azerbaijan to be completed before the end of the year. As Zeybekci noted, Turkey hopes for similar agreements with Uzbekistan.

The Minister stressed that the Turkish speaking countries have great opportunities for cooperation in the fields of transport and logistics.

In order to increase the volume of freight traffic and to strengthen transit routes through our countries, the coordination platforms should be expanded with the member states of the Turkish Council and with other Turkish-speaking countries,“demanded the Azerbaijani Minister of Economic Affairs Sahin Mustafaev and invited the member states to make use of Azerbaijan’s logistical and economic opportunities.

Mustafaev stressed the importance of trade and investment between countries in economic relations with Turkey. He added that an FTA agreement, the discussion of which is scheduled for first December, will support the growth of intergovernmental trade.

Istanbul hosted the seventh meeting of the Economic Ministers of the member states of the Cooperation Council of the Turkish-speaking countries, or Turkish Council for short, on 30 November. The organisation includes Azerbaijan, Turkey, Kazakhstan and Kyrgyzstan. Turk state Uzbekistan also participated for the first time in a meeting of the Turkish Council.



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