Preparations are underway to establish an Investment Fund within the OTS

The member countries of the Organization of Turkic States are currently actively working on the issue of establishing a joint investment fund. On January 10-11 of this year in Istanbul the next meeting of experts from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkiye and Uzbekistan responsible for elaboration of the relevant draft Agreement was held.

Uzbek side was represented at the event by representative of the Ministry of Investments, Industry and Trade.

The Turkic Investment Fund will be the first and main joint financial institution created by the Turkic states and aims at mobilizing the economic potential of member countries of the Organization of Turkic States to strengthen trade and economic cooperation between them and implement joint projects.

The priorities of the Fund are identified as: promotion of entrepreneurship, job creation, research and innovations, socio-economic development of the member states.

At the end of the meeting, an agreement was reached on the soonest completion of the domestic approval procedures of the draft document in each of the member states, and the intentions to sign it as soon as possible in the framework of the planned joint activities were confirmed.

P.S. The establishment of the investment fund is planned for 2023.