At the international investment forum in Ashgabat, Secretary General of the Union of Chambers of Commerce and Industry of Turkic States Adem Kula reported a significant increase in trade between the countries of the Organization of Turkic States (OTS). The volume of intraregional trade increased from 30,9 billion USD in 2022 to 38,3 billion USD in 2023, an increase of 24%.
During his speech at the forum “Investments in the Future of Turkmenistan”, Adem Kula noted that despite the positive dynamics, trade between the Turkic countries accounts for only about 6% of their total exports to the world, which reached 619 billion USD in 2023. According to him, given the rich natural resources of the countries of the region and their strategic location on the main trade routes between the East and the West, there is significant potential for further increase in trade.
The Secretary-General stressed the growing importance of the Trans-Caspian International Transport Route (Middle Corridor), which passes through the OTS member countries and Turkmenistan. Thanks to the efforts of the states in the region, the volume of cargo transportation along this route is constantly increasing.
Adem Kula also highlighted the progress in transport and customs cooperation through initiatives such as the Simplified Customs Corridor and International Combined Freight Transport. He spoke about the ongoing work to digitalize cargo processes through the E-Permit, E-CMR and Digital TIR projects, which will simplify logistics and improve the efficiency of cross-border trade.
The International Investment Forum in Ashgabat is taking place at the “Yyldyz” hotel with the participation of representatives of government agencies, international organizations, foreign companies and local businesses.
