Until now, Turkic Council convened eight meetings of the Ministers in charge of Economy and ten meetings of the Working Group with the participation of the experts of the relevant institutions of the Member States.
The last Eight Meeting of Ministers in charge of Economy was hosted by Minister of Economy of the Kyrgyz Republic Oleg Pankratov and Secretary General of the Turkic Council Baghdad Amreyev on 17 October 2018 in Bishkek.
Member States have been represented by Deputy Minister of Economy of the Republic of Azerbaijan Sahib Mammadov, Vice-Minister of National Economy of the Republic of Kazakhstan Madina Zhunusbekova, Deputy Minister of Trade of the Republic of Turkey Gonca Işık Yılmaz Batur. Observer State Hungary was represented by its Ambassador to the Kyrgyz Republic Andres Baranyi.
Minister Pankratov together with Secretary General Amreyev welcomed the participants in Kyrgyzstan and Minister emphasized that the economic agenda of the Turkic Council is of outmost importance for furthering fruitful cooperation among the Member States. He provided information on the opportunities for further development of trade and promotion of investment that were established in Kyrgyzstan since last meeting.
Secretary General Amreyev drew attention to the need to further develop economic cooperation among Member States by strengthening the existing mechanisms and introducing new projects like Joint Investment Fund, Turkic Trade House and Joint Chamber of Commerce in line with the tasks given by the Presidents at the 6th Summit of the Turkic Council that was held on 3 September 2018 in Cholpon-Ata, Kyrgyzstan.
Deputy Minister Mammadov in his speech underlined that Azerbaijan attaches utmost importance to development and deepening cooperation in trade and investment, as well as development of relations among the businessmen of the brotherly countries.
Deputy Minister Zhunusbekova of the Republic of Kazakhstan proposed to establish joint trade houses for the purpose of developing of mutual trade and expressed her belief that such a mechanism will play a crucial role in facilitating mutual investments, trade relations between producers and customers as well as in promotion of national products export of the Turkic Council Member States.
Deputy Minister Yılmaz Batur highlighted that the economic potential of the Turkic Council Member States can only be materialized with a vision primarily focusing on human development and human capital being the most important elements of the economic development where the Member States should invest more. Emphasizing the important role of transport and the time cost of foreign trade transactions in the economic life, Deputy Minister called the Member States to closely work to develop closer cooperation in the field of trade facilitation. She also added that deepening the relations in the field of transport and customs will boost the existing trade turnover among the Member States.
Giving the brief information on Hungary’s economic potential, Ambassador Baranyi emphasized their readiness for fruitful cooperation with the Member States of the Turkic Council. He also stated that the Hungarian Eximbank has opened a credit line worth a total of USD 1.5 billion for the promotion of investment, trade and project cooperation with the six Turkic-speaking countries.
Deputy Secretary General of the Turkic Council Dr. Ömer Kocaman reported to the Ministers on the results of 10th Meeting of the Working Group on Economy that was held on 16 October 2018 in Bishkek. He informed Ministers about the important outcomes reached by the representatives of the Member States at Working Group meeting.
Regarding the cooperation in the field of financial markets, Mr. Aydar Kazibayev, Executive Director of Astana International Financial Centre (AIFC) made a brief presentation on the activities and possible areas of cooperation among Member States in the field of financial markets. He invited companies and financial institutions of the Member States to participate in the activities of the AIFC.
At the end of the meeting the Award Ceremony of Turkic Business Prize was held, where Minister Pankratov and Secretary General Amreyev handed over the Prizes to the representatives of the companies namely Turkish Petroleum Corporation (TPAO), “TOO Ordabasykus”, “ABADA Trade” and “TANAP” were nominated by the Member States for their valuable contributions to the economic relations.
Following the meeting, Minister Pankratov and Secretary General Amreyev delivered their remarks at the joint press conference.