BAKU, Azerbaijan, October 23. The Turkic
Investment Fund’s Board of Governors has discussed expanding the
Fund’s activities and strengthening investment cooperation among
member states at a meeting in Tashkent.
According to Azerbaijan’s Ministry of Economy, Azerbaijan was
represented at the meeting by First Deputy Minister of Economy
Elnur Aliyev.
The meeting highlighted the Fund’s role in strengthening
economic integration across the Turkic world, promoting mutual
investment, and implementing joint projects. The participants
reviewed efforts to organize the Fund’s operations, expand
financing opportunities, and strengthen cooperation with
international financial institutions.
Aliyev shared Azerbaijan’s experience in establishing bilateral
investment funds with partner countries and proposed strengthening
links between these funds and the Turkic Investment Fund, as well
as developing joint financing mechanisms. Supporting cross-border
projects and small and medium-sized enterprises, financing trade,
and promoting lending in national currencies were identified as
priority areas. The importance of improving operational efficiency
and corporate governance was also emphasized.
The meeting decided to assign the chairmanship of the Board of
Governors to Azerbaijan and the vice-chairmanship to Hungary until
the end of the next annual meeting.
The Turkic Investment Fund was established under an agreement
signed in Ankara in 2023 to expand economic cooperation, mutual
investment, and regional trade among member states. Its members are
Azerbaijan, Türkiye, Kazakhstan, Kyrgyzstan, Uzbekistan, and
Hungary. The Fund supports small and medium-sized enterprises,
infrastructure development, and the financing of joint
projects.
