The total volume of trade turnover of the member countries of the Organization of Turkic States (OTS) is worth $42 billion, and there is a potential to increase it, Ambassador of Türkiye to Azerbaijan, Cahit Bagci, said at the Economic Forum of Turkic States held in Baku today, Report informs.
The ambassador emphasized that the OTS contributes to the development of economic and trade relations between member countries.
According to him, Azerbaijan, Kazakhstan, and Uzbekistan signed a Memorandum of Cooperation on the interconnection of energy systems on Wednesday: "Their cooperation once again demonstrated that the region has a valuable and strategic importance."
Bagci added that Türkiye's defense industry has developed a lot: "In this direction, we produce products based on high technologies. This advantage can strengthen cooperation within the Organization of Turkic States."
The ambassador believes that this forum promotes economic relations between the OTS member countries: "In addition, we should expand investments."