TODAY.AZ / Politics

Azerbaijan has more confidence in growing potential of OTS [ANALYSIS]

21 February 2024 [15:44] - TODAY.AZ
By Azernews

Ulviyya Shahin

I remembered the saying "Azerbaijan's place is east" mentioned by the famous Azerbaijani writer of Jewish origin, Lev Simbaum (Kurban Said), in his work "Ali and Nino" a hundred years ago. In his addendum, he said that we should not lean towards the west but stay in the east.

Even after the last anti-terrorist operation, PACE also showed who or what it was by tearing its mask. In the words of the President of Azerbaijan, Ilham Aliyev, we saw that there is no one waiting for us in the EU. Therefore, we should not hurry to Europe anymore. We should return to our roots. Our roots are in Central Asia, we need to strengthen our relations with the states located there, especially among the Turkic States.

What do the Central Asian states offer us? The Central Asian states do not give way to the European Union today. However, the population of the countries in the European Union is 448,387,873, with a GDP of nineteen trillion.

The population of the states in the Turkic Council is approximately one hundred and fifty-seven million, with a GDP of two trillion.

Let's take a look at the economy and GDP of the countries included in the Turkic states.

Recently, the first country that caught my attention with its GDP was Kazakhstan.

Kazakhstan has a GDP of $290.994 billion and an annual growth rate of 4.5 percent. Per capita, Kazakhstan's GDP stands at $14,395. Agriculture accounts for approximately 5 percent of Kazakhstan's GDP. Grain, potatoes, grapes, vegetables, melons, and livestock are the most important agricultural commodities. The chief livestock products are dairy products, leather, meat, and wool. The country's major crops include wheat, barley, cotton, and rice. Wheat exports, a major source of hard currency, rank among the leading commodities in Kazakhstan's export trade.

Kazakhstan has a significant agricultural sector due to its vast land area and diverse climatic conditions. The country is known for its production of grains, particularly wheat, barley, and maize. Other important crops include potatoes, vegetables, fruits, and cotton.

Livestock farming is also a crucial component of Kazakhstan's agricultural industry, with cattle, sheep, goats, horses, and poultry being raised for meat, dairy, and other products. The country has vast pasturelands suitable for grazing, which supports its livestock sector.

Kazakhstan has been working to modernise its agricultural sector, improve infrastructure, and increase efficiency through various government initiatives and investments. Additionally, the country has been focusing on sustainable agriculture practices and enhancing food security.

Turkiye has one of the largest economies in the world, ranking among the top 20 economies by GDP size. Its GDP is typically measured in terms of purchasing power parity (PPP) due to currency fluctuations. According to the World Bank, Turkey's GDP was around $1.154 trillion in 2023.

Turkiye has a diverse economy with key sectors including manufacturing, services, agriculture, and tourism. The country has successfully diversified its economy over the years, reducing its reliance on agriculture and expanding into the industrial and service sectors.

Turkey has a robust manufacturing sector, producing a wide range of goods including automobiles, electronics, textiles, and machinery. The country is known for its competitive manufacturing industry and has been able to export its products to various markets around the world.

The services sector is a significant contributor to Turkey's economy, encompassing finance, telecommunications, tourism, and real estate. Istanbul, Turkey's largest city, is a major financial hub and attracts investments in various service industries.

Although the contribution of agriculture to Turkey's GDP has decreased over the years, it still plays an important role in the economy, especially in rural areas. Turkey is a leading producer of agricultural products such as grains, fruits, vegetables, and livestock.

Turkey is a popular tourist destination known for its rich history, cultural heritage, and natural beauty. The tourism industry contributes significantly to the country's economy, attracting millions of visitors each year.

Kyrgyzstan has a relatively small economy compared to other countries, but it plays an important role in Central Asia. Its GDP is primarily driven by sectors such as agriculture, mining, manufacturing, and services. In recent years, the country's GDP has experienced moderate growth, $37 billion.

Kyrgyzstan's market success depends on various factors, including government policies, investment climate, regional stability, and global economic conditions. The country has been working to attract foreign investment and promote economic diversification to enhance its market competitiveness.

Agriculture is a significant sector in Kyrgyzstan, employing a large portion of the population and contributing to both GDP and exports. The country produces crops such as wheat, barley, potatoes, and vegetables, as well as raising livestock. Additionally, mining, particularly of gold, is an important contributor to Kyrgyzstan's economy.

Kyrgyzstan's trade is influenced by its geographical location in Central Asia. The country has trade relationships with neighbouring countries as well as international partners. Efforts to improve trade infrastructure and simplify trade procedures can enhance market success.

Uzbekistan has been undergoing economic transformation and diversification, resulting in strong GDP growth rates in recent years. The country has implemented structural reforms to liberalise its economy, attract foreign investment, and promote private sector development.

Uzbekistan has embarked on an ambitious reform agenda aimed at modernising its economy and improving the business environment. Reforms include liberalising currency exchange rates, reducing bureaucratic barriers, and privatising state-owned enterprises.

Uzbekistan has a GDP of $100 billion. Uzbekistan's economy is diverse, with key sectors including agriculture, manufacturing, mining, and services. The country is known for its production of cotton, gold, natural gas, and agricultural products. Efforts to modernise and expand these sectors have contributed to economic growth and market success.

Uzbekistan has been actively seeking foreign investment to support its economic development goals. The government has implemented measures to improve the investment climate, including offering incentives to foreign investors, streamlining regulations, and enhancing infrastructure.

Uzbekistan's strategic location in Central Asia positions it as a key player in regional trade and connectivity initiatives. The country has been strengthening its ties with neighbouring countries and participating in regional organisations to promote trade, investment, and economic cooperation.

Turkmenistan has a relatively large GDP ($81.822 billion) compared to its population size, primarily due to its significant natural gas reserves. The country's GDP is heavily reliant on revenues from the energy sector, particularly natural gas exports.

Turkmenistan is one of the world's leading natural gas producers, with vast reserves located primarily in the country's eastern regions. The government controls the energy sector, and revenues from natural gas exports play a crucial role in the economy.

Turkmenistan has invested in infrastructure development projects, including transportation networks, energy infrastructure, and industrial facilities. These investments are aimed at modernising the economy and supporting economic growth.

Finally, we will look at the situation in Azerbaijan. The country's GDP is $77.392 billion for this year.

Azerbaijan has a relatively large GDP compared to other countries in the region, primarily due to its significant oil and gas reserves.

Azerbaijan's economy is heavily reliant on its oil and gas sector, which accounts for a significant portion of government revenue and exports. The country's oil and gas reserves, particularly from the Caspian Sea, have driven economic growth and development over the past few decades.

In recent years, Azerbaijan has made efforts to diversify its economy away from dependence on oil and gas. The government has invested in sectors such as agriculture, tourism, transportation, and telecommunications to reduce vulnerability to fluctuations in global oil prices.

Azerbaijan has invested in infrastructure projects to support economic development and improve connectivity within the region. Projects such as the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Kars railway have enhanced Azerbaijan's role as a transit hub for energy and goods.

Azerbaijan has actively sought foreign investment to support economic diversification and development. The government has implemented reforms to improve the business environment, attract foreign capital, and promote private sector growth.

Azerbaijan's economic success is influenced by its relationships with neighboring countries and regional organizations. The country has sought to strengthen ties with both Western and Eastern partners to promote trade, investment, and economic cooperation.

The population of Central Asia is young and rapidly growing, while in the European Union, the population consists mostly of older generations. This demographic difference is one of the factors that will give Central Asia an advantage over the European Union.

The Turkic states are developing countries, including Turkiye and Kazakhstan, which are classified as NIC (newly industrialised countries). This indicates their rapid development. The majority of these countries maintain a positive balance in foreign trade. For instance, Kazakhstan, Turkmenistan, and Azerbaijan all have a positive trade balance. Turkiye also maintains a positive trade balance, except for fuel and gold. The only notable difference for Turkiye is the absence of significant oil and gas resources.

Turkic states are also strategically located in the area between China and Europe, and this gives them an advantage as a corridor between east and west.

An analysis reveals that the potential of the Central Asian states surpasses that of the European Union. Because, one of the main reasons for this is the rapid growth of the population in the east and the positive effects of increasing consumer demand on the dynamics of the economy. At the same time, as President Ilham Aliyev noted at the swearing-in ceremony, Azerbaijan will continue its efforts within the framework of the Organization of Turkic States.

"We have fraternal relations with all countries that are members of the Organisation of Turkic States, and our policy is to strengthen the Organisation of Turkic States. It is a large geography, a large territory, a large military power, a large economy, natural resources, transportation routes, a young and growing population, and peoples from the same roots," the president said.

URL: http://www.today.az/news/politics/245142.html

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