Secretary general: OTS countries intend to increase mutual trade to 10% of total trade turnover

The member countries of the Organization of Turkic States (OTS) plan to increase the share of mutual trade to 10% of the total foreign trade turnover, Secretary General of the OTS Kubanychbek Omuraliev said in an interview with Report, speaking about plans to deepen economic cooperation between the member countries of the organization.

"Currently, OTS member states rank 12th globally in total GDP, with a combined external trade volume of $850 billion. However, intra-OTS trade currently accounts for only 7 % of that, or about $57 billion. A few years ago, this was only 3%, so we’re seeing encouraging growth. Our goal now is to increase this share to 10% as quickly as possible. In 2024, our combined GDP surpassed $2.1 trillion, and our trade turnover reached $1.1 trillion," he said.

Omuraliev spoke about the work to expand economic ties through various initiatives.

"The OTS has always striven to increase efficiency and reduce barriers while staying vigilant on harmonized customs procedures on movement of goods and services. In this respect, 'Simplified Customs Corridor of the OTS' between the Member States was established to ensure an efficient transportation of products. This, without doubt, will pave the way for the fostering of e-commerce and diversifying supply chains by adding a competitive edge within the scope of both the Middle Corridor and Zangazur Corridor. It should also be noted that the OTS is committed to enhancing transport connectivity along the Middle Corridor. Several initiatives such as the E-TIR, E-Permit and E-CMR aim to eliminate barriers to efficient and seamless transport, while establishing new frameworks to streamline operations across various road, rail, and sea. Towards that end, the OTS is driving transport cooperation through various mechanisms – such as regular Ministerial Meetings, Transport Coordination Committees, Working Group on Transport Development and Sub-Working Group on Digitalization," he added.