Preparations are underway to create an Investment Fund within the framework of the Organization of Turkic States

The member countries of the Organization of Turkic States are currently actively working on the establishment of a joint investment fund. A regular meeting of experts from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan responsible for drafting the relevant draft Agreement was held in Istanbul on January 10-11 of this year.

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

For reference: The Turkic Investment Fund will be the first and main joint financial institution established 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 the implementation of joint projects.

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

As a result of the meeting, an agreement was reached on the early completion of the domestic procedures for approving the draft document in each of the participating countries, and the intentions for its early signing within the framework of the planned joint activities were confirmed.

The establishment of the investment fund is planned in 2023.

 

Source: miit.uz