13 January 2023

Preparations are underway for the creation of an Investment Fund within the framework of the Organization of Turkic States

According to the press service of the MIIT, the member countries of the Organization of Turkic States are currently actively working on the issue of establishing a joint Investment Fund. On January 10-11 this year, a regular meeting of experts from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan, responsible for the development of the relevant draft Agreement, was held in Istanbul.

From the Uzbek side, a representative of the Ministry of Investments, Industry and Trade took part in the event.

For reference: The Turkic Investment Fund will become the first and main joint financial institution created by the Turkic states, and will be aimed at mobilizing the economic potential of the member countries of the Organization of Turkic States to strengthen trade and economic cooperation between them and implement joint projects.

The priorities of the Fund are: promotion of entrepreneurship, job creation, research and innovation, socio-economic development of member states.

As a result of the meeting, an agreement was reached on the speedy completion of domestic procedures for agreeing on the draft document in each of the participating countries, and intentions were confirmed to sign it as soon as possible within the framework of the planned joint events.

The establishment of the investment fund is planned for 2023.