The economic potential of the Organization of Turkic States (OTS) will be realized through new‑generation financial instruments, Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC), stated at the 2nd International Conference of Leading National Analytical Centers of the OTS in Baku.
Gasimli pointed out that in Türkiye, an additional final demand of $1 million generated $1.58 million worth of economic output: "At the same time, the impact of Türkiye's additional final demand on other Turkic states such as Hungary and Kazakhstan is statistically significant. Strengthening production and trade links among Turkic states will further increase regional multiplier effects and economic dividends."
The director also touched upon the dynamics of the Middle Corridor and logistics, drawing attention to important statistical indicators: "Cargo shipments across the Caspian Sea rose by 34 percent, East‑West railway transit increased by 12 percent, and container handling at Baku Port grew by 15 percent. The sustainability index of the Azerbaijani segment of the Middle Corridor stands at approximately 0.5 out of 1. This shows that, on the one hand, we have a solid foundation for sustainability, and on the other hand, there are wide opportunities for infrastructure improvement, for ensuring the digitalization of the Silk Road, the Middle Corridor and the Turkic belt, and for forming a unified tariff‑based single window system."
Assessing the region's financial potential, Gasimli added that while OTS countries account for 2 percent of global GDP, their share in global bank assets is only 0.8 percent, whereas domestic savings equal 2.3 percent of the global figure.
"The main challenge is to mobilize the region's economic and savings potential through new‑generation financial solutions and direct it toward productive investments and sustainable development. By new‑generation financial instruments, we mean tokenization, digital ledger technology (blockchain), Islamic finance, artificial intelligence, and other innovative tools," he concluded.