BAKU, Azerbaijan, September 16. Plans are
underway to increase the authorized capital of the Turkic
Investment Fund, Secretary General of the Organization of Turkic
States (OTS), Kubanychbek Omuraliev, told Trend.
He noted that the fund's current authorized capital stands at
$600 million.
"We are currently operating with $600 million, but there are
plans to increase this amount. The average economic growth rate of
the Turkic world for 2025 was 6.86%. This demonstrates that the
Turkic world is becoming a strategic hub with growing weight in the
global balance of production, trade, energy, and logistics.
Trade among OTS countries currently accounts for approximately
7% of their total trade. A few years ago, this figure was 3%. While
this growth is certainly positive, there is significant potential
for further expansion," he added.
The Turkic Investment Fund is the first specialized
international financial institution established by Turkic-speaking
states with the aim of strengthening economic cooperation,
expanding mutual trade, and supporting the sustainable development
of the Turkic world as a whole.
At the 9th Summit of the OTS held in Samarkand on November 11,
2022, the heads of state adopted a decision to establish the Turkic
Investment Fund and appoint its president. The agreement on the
establishment of the fund was signed at the extraordinary OTS
Summit held in Ankara on March 16, 2023, and entered into force on
February 24, 2024. The authorized capital of the fund is $600
million.
