Samarkand sets the dynamics for the development of trade and economic relations within the framework of the Organization of Turkic States

On November 9 of this year, in Samarkand, within the framework of the Summit of the Organization of Turkic States, the 11th meeting of the ministers of economy and trade of the states of the Organization was held, dedicated to discussing the current state of a wide range of areas of multilateral cooperation and developing further steps to accelerate trade, economic, investment, transport and logistics interactions.

During the meeting, an exchange of views took place in order to determine the most effective ways to strengthen interaction to accelerate the economic development of all member countries and observers of the Organization. Including, through the implementation of initiatives in the field of trade, investment, transport and the use of other mechanisms of multilateral relations.

The prospects for investment cooperation were discussed. An agreement was reached to accelerate the signing of the Agreement on the establishment of the Investment Fund of the Organization of Turkic States, which will form a solid basis for the implementation of major joint projects and initiatives.

The meeting participants also considered further steps to develop multilateral trade relations, meaning the implementation of common comprehensive approaches to increasing mutual trade within the Organization. Readiness was expressed to take the most active measures to implement the “Trade Facilitation Strategy”, planned for signing within the framework of the forthcoming first Summit.

During the dialogue, measures were discussed to ensure the stability of multilateral trade and economic relations. Taking into account the priority of this area, the participants reached agreements on a unified approach of the Member States and observers of the Organization to ensure the continuous operation of transport corridors, customs and border checkpoints and logistics centers, as well as on the development of specific measures to further expand and develop transport and logistics interconnectedness within the OTG.

In a separate order, joint plans for the introduction of innovations and digital technologies in the economy were considered. An agreement was reached to study and assess the level of digitalization and the introduction of e-government in various sectors of the economy, the social sphere and regional development, as well as the main criteria and steps to coordinate efforts in this direction.

Part of the conversation between the ministers was devoted to the discussion of the Strategy for 2022-2026 within the framework of the Organization. An agreement was reached on taking specific measures to ensure the implementation of a program document covering the development of the political, trade, economic, social, cultural and security spheres.

As a result of the event, the participants expressed mutual commitment to taking comprehensive practical measures to further strengthen relations and support the implementation of joint projects and initiatives.