ALMATY – Representatives of governments, financial institutions and business communities from member states of the Organization of Turkic States (OTS) gathered on May 13 in Astana to discuss expanding economic integration through industrial cooperation, logistics, agriculture and digitalization during a business forum held ahead of the informal summit in Turkistan.
Representatives of governments, financial institutions and business communities from member states of the Organization of Turkic States (OTS) gathered on May 13 in Astana. Photo credit: Prime Minister’s press service. Speaking at the forum titled Economic Integration and Cooperation of OTS Countries: New Opportunities in Industry, Agriculture, Logistics and Digitalization, Kazakhstan’s Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said practical economic cooperation among Turkic states is becoming increasingly important amid global competition for investment, technology and transport routes.
According to him, the OTS market includes more than 170 million people and possesses significant industrial, agricultural and transport potential, reported the Prime Minister’s press service. “Kazakhstan consistently advocates for deeper economic integration among Turkic states.
We see major potential in industrial cooperation, joint agro-industrial projects, transport corridors, digital platforms and e-commerce,” Zhumangarin said. He stressed that the priority now is to move from declarations to practical projects, including new manufacturing facilities, technological alliances and mutual investments.
Turkic Investment Fund expands regional ambitions A major focus of the forum was the role of the Turkic Investment Fund, which Kazakhstan views as a key financial mechanism for supporting regional projects. Serik Zhumangarin. Photo credit: Prime Minister’s press service.
According to Zhumangarin, the fund is prepared to allocate at least $20 million at the initial stage for co-financing projects. Negotiations are underway regarding the fund’s possible participation in financing infrastructure development at Almaty International Airport.
“For Kazakhstan, it is important that the Turkic Investment Fund becomes not just a financial institution, but a full-fledged platform for economic integration that contributes to trade growth, new industries and investment cooperation,” he said. Forum participants also discussed the growing strategic importance of transport connectivity, particularly the development of the Trans-Caspian International Transport Route, also known as the Middle Corridor, as well as modernization of railway and port infrastructure connecting Asia and Europe.