Our goal is to unlock the full economic potential of the Turkic world, says TurkPA member

The combined gross domestic product of the Organization of Turkic States (OTS) has surpassed $2.1 trillion, accounting for around 2 percent of the global economy, highlighting the bloc’s growing economic weight, AzerNEWS reports.

The figures were shared by Anas Bakkozhayev, Chairman of the Commission on Economic Cooperation of TURKPA and a deputy of the Kazakh Parliament, during the commission’s thirteenth meeting held under the theme “Realities and Prospects for the Implementation of Joint Economic Activities of the TURKPA Member States.”

According to Bakkozhayev, mutual trade among Turkic states has reached approximately $57 billion, while their total foreign trade volume stands at $1.1 trillion.

He emphasized that expanding economic cooperation among member states is driven by both bilateral and multilateral initiatives, contributing to broader economic development across the Turkic world.

“In this framework, the development of economic cooperation leads to the expansion of mutually beneficial economic and trade relations. It is important to form a legal basis for economic relations. Various organizations are being created to strengthen mutual relations between Turkic states. Specific projects are being implemented to strengthen economic activities,” he stated.

Bakkozhayev noted that these efforts are aimed at strengthening economic ties, deepening integration, and accelerating overall development among member states.

“The main goal is to promote joint activities between countries, more effectively reveal economic potential and expand cooperation. In particular, coordination of such activities and study of existing issues between member states is of great importance,” he added.

He concluded that ongoing initiatives and institutional coordination will have a positive impact on the development of member countries, with expanded cooperation across various sectors expected to ensure long-term sustainability.