• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.10549 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
24 February 2026

Viewing results 1 - 6 of 38

Turkic States Set to Expand Mutual Trade and Strengthen Economic Integration

The 14th meeting of ministers responsible for economy and trade of the Organization of Turkic States (OTS) was held on February 20 in Turkistan, Kazakhstan. The gathering brought together ministerial delegations from member states to advance economic cooperation, deepen trade ties, and promote sustainable and inclusive growth across the Turkic region. Founded in 2009 to foster comprehensive cooperation among Turkic-speaking nations, the OTS includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan as full members. Turkmenistan, Hungary, and Northern Cyprus participate as observers. According to the OTS Secretariat, the Turkic region recorded an average economic growth rate of 6.86% in 2025, more than double the global average. Despite this performance, OTS Secretary General Kubanychbek Omuraliev called for intensified efforts to expand intra-regional trade. Omuraliev highlighted ongoing negotiations on the Agreement on Services and Investment Facilitation, describing it as a decisive step toward deeper economic integration. He also pointed to strengthened institutional mechanisms, including the Council of Central (National) Banks of the OTS, the Turkic Green Finance Council, enhanced cooperation among Financial Intelligence Units and Competition Authorities, and closer coordination between the Turkic Investment Fund and the Union of Turkic Chambers of Commerce and Industry (TCCI). Delegations discussed practical measures to increase intra-OTS trade, improve the investment climate, and enhance regional connectivity. Participants emphasized the need for coordinated policies to reduce trade barriers, support small and medium-sized enterprises, and facilitate cross-border commerce. Kazakhstan’s Deputy Minister of National Economy, Asan Darbayev, underscored the symbolism of holding the meeting in Turkistan, a historic spiritual center of the Turkic world and a key node of the ancient Silk Road. He noted that the OTS is steadily evolving from a dialogue platform into a mechanism for practical cooperation, building new value chains and expanding trade links. In 2025, mutual trade among OTS member states exceeded $11.9 billion. Kazakhstan’s largest trade volumes were with Turkey ($4.9 billion), Uzbekistan ($4.3 billion), Kyrgyzstan (nearly $2 billion), and Azerbaijan ($425 million). Investment ties are also strengthening. Between 2005 and 2025, foreign direct investment from OTS countries into Kazakhstan surpassed $6.3 billion. Over the same period, Kazakh investments in OTS economies reached $5 billion, including more than $1.3 billion in 2025 alone. The meeting concluded with the signing of a Memorandum of Understanding on Partnership in Trade and the adoption of a Roadmap for Cooperation in Economy, Trade, Investment, and Finance. As previously reported by The Times of Central Asia, in December 2025 the Board of Governors of the Turkic Investment Fund announced that the fund would begin operations in the first quarter of 2026. Headquartered in Istanbul, the Turkic Investment Fund is the first joint financial institution established by OTS member states. Its mandate is to promote economic cooperation, boost intra-regional trade, and finance major joint initiatives aimed at strengthening long-term regional integration.

Turkic Investment Fund to Launch Operations in Early 2026

At a meeting held in Bishkek on December 5, the Board of Governors of the Turkic Investment Fund (TIF) announced that the Fund will begin its operational activities in the first quarter of 2026. With an initial authorized capital of 500 million dollars and a potential increase to 1.5 billion dollars, the TIF is the first dedicated financial institution jointly established by the Turkic states. Its mission is to enhance economic cooperation, boost intra-regional trade, and support sustainable development across the Turkic world. Headquartered in Istanbul, the Fund will finance major joint projects among member states of the Organization of Turkic States (OTS). The OTS, founded in 2009, includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Turkmenistan. Hungary and the Turkish Republic of Northern Cyprus participate as observer states. The TIF was officially established during an extraordinary OTS summit in Ankara in March 2023, with Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan as founding members. Hungary joined in June 2024, while Turkmenistan maintains observer status. According to the Board of Governors, the institutional infrastructure required for TIF operations was largely completed in 2025, and preparatory work on a pipeline of investment projects is currently underway. The Board emphasized that the decision to initiate operations reflects growing expectations among member states for the Fund to begin allocating resources and advancing strategic initiatives. During the Bishkek meeting, Uzbekistan’s representative, Laziz Kudratov, Minister of Investment, Industry and Trade, was elected Chairman of the TIF Board of Governors. The Fund will pursue its mandate by offering preferential loans, co-financing projects alongside international financial institutions, and attracting private investment into key sectors of the region’s economies. Following the inaugural meeting of the TIF Board in Istanbul in May 2024, the Turkish Ministry of Finance projected that the combined economic output of the Turkic states would reach $1.9 trillion by the end of 2024, with a population of approximately 178 million.

Opinion: The Twelfth Summit of the Organization of Turkic States – A Turning Point for Regional Peace and Integration

The Twelfth Summit of the Organization of Turkic States (OTS) was held on October 6–7, 2025, in Gabala, Azerbaijan, under the theme “Regional Peace and Security,” and was hosted by the President of the Republic of Azerbaijan, Ilham Aliyev. Attending the summit were Kassym-Jomart Tokayev, President of the Republic of Kazakhstan; Sadyr Japarov, President of the Kyrgyz Republic; Recep Tayyip Erdoğan, President of the Republic of Turkey; Shavkat Mirziyoyev, President of the Republic of Uzbekistan; and Viktor Orbán, Prime Minister of Hungary, participating as an observer. Turkmenistan, represented by Gurbanguly Berdimuhamedov, and the Turkish Republic of Northern Cyprus, represented by Ersin Tatar, also attended the summit as observer members. Among the central topics discussed was support for the Joint Declaration signed between Azerbaijan and Armenia on August 8, 2025, in Washington, D.C. The OTS member states regard this declaration as an important step toward lasting peace and stability in the South Caucasus. The summit also emphasized the need for a collective Turkic effort to sustain peace in the region. In his address, President Aliyev noted that one of the outcomes of the Washington Summit was progress on the Zangezur Corridor, describing it as a new transportation route of great importance within both the Middle Corridor and the North–South Corridor. Speaking before the 80th session of the United Nations General Assembly, Armenian Prime Minister Nikol Pashinyan had countered the use of the term “Zangezur Corridor,” which does not appear in the signed documents and was never used in negotiations. Despite these objections, however, Aliyev again used the term at the OTS Summit, reaffirming his intention to move forward under that framework. The New York meeting on September 22, 2025, between the foreign ministers of Azerbaijan and Armenia, where both sides agreed to continue dialogue based on the outcomes of the Washington Declaration, has been widely considered a constructive step toward normalization of relations between the two parties. Another highlight of the summit was President Erdoğan’s call to develop the ‘Turkish Large Language Model.’ “To catch up with global developments in artificial intelligence and to preserve our cultural richness, we need to accelerate the development of the Turkish Large Language Model,” Erdoğan said. “[In] Türkiye, we are taking the first step on the common alphabet issue by printing a work about Chingiz Aitmatov and the Oghuznames in the common alphabet. Today, we are also presenting a copy of this to the leaders.” The initiative reflects the vision for greater cultural, scientific, and digital integration among Turkic states, and it was included as part of the broader digital transformation and innovation agenda outlined in the Gabala Declaration, which followed the summit. Kazakh President Tokayev described the Organization of Turkic States as an “authoritative structure uniting friendly Turkic peoples,” capable of addressing shared challenges, and expressed support for establishing an “OTS+” format to expand cooperation and global visibility. President Aliyev, meanwhile, highlighted growing military collaboration between Azerbaijan and Turkey, referencing more than 25 joint exercises held within one year - although this figure has...

Leaders of Turkic States Meet in Azerbaijan

The 12th Summit of the Heads of State of the Organization of Turkic States (OTS) convened in Gabala, Azerbaijan, bringing together leaders from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus. Discussions focused on regional stability, economic integration, and strengthening fraternal ties among Turkic nations. Aliyev: The OTS Is Becoming a Major Geopolitical Center Opening the summit, Azerbajani President Ilham Aliyev welcomed participants to Gabala and thanked Kyrgyzstan for its prior chairmanship. “Today, the Organization of Turkic States is not merely a platform for cooperation; it is forming as one of the serious geopolitical centers,” Aliyev said. He announced Azerbaijan’s $2 million contribution to support OTS activities and emphasized shared historical roots and cultural values across Turkic nations. Addressing peace and security, Aliyev added, “In light of modern geopolitical challenges, it is crucial that Turkic states act as a unified center of power,” and proposed hosting joint military exercises of OTS member states in 2026. South Caucasus Peace and Economic Connectivity Aliyev highlighted the recent peace agreement initialed between Azerbaijan and Armenia in Washington as a breakthrough for the South Caucasus: “This will turn the region into a space of peace.” He also noted Azerbaijan’s growing role in regional logistics: “Since 2022, cargo volumes along the Middle Corridor have increased by nearly 90%. Our Caspian fleet, the Alat Port, the Baku-Tbilisi-Kars railway, and nine international airports have made Azerbaijan a leading transport hub.” He stressed the importance of the Zangezur Corridor, intended to connect Azerbaijan with Nakhchivan and Central Asia, and cited Azerbaijan’s energy diversification, exporting natural gas to 14 countries and a projected 40% share of renewables in its energy mix by 2030. Unity and Vision from the Turkic Leaders Kyrgyz President Sadyr Japarov praised the summit location and the symbolic timing: “Gabala is an ancient city with a 2,000-year history, and it is no coincidence we gathered here.” He called the joint peace declaration with Armenia a historic step toward trust in the South Caucasus. Kazakh President Kassym-Jomart Tokayev echoed support: “This historic document has ended a conflict that had remained unresolved for more than 30 years.” He quoted poet Bakhtiyar Vagabzade: “A Turk has no right to be hostile to another Turk.” Turkish President Recep Tayyip Erdoğan called for developing a “Common Turkic Language Model” to protect cultural heritage and advance artificial intelligence research. “We once again demonstrate that the Turkic states, driven by solidarity, mutual respect, and brotherhood, are confidently looking to the future,” he said. Uzbek President Shavkat Mirziyoyev credited Aliyev’s leadership: “This peace declaration became possible thanks to your political will and is a common achievement of the Turkic world.” Turkmenistan and Hungary on Brotherhood and Energy Gurbanguly Berdimuhamedov, Chairman of Turkmenistan’s Halk Maslahaty, described the OTS as a unifying platform for brotherly nations with shared culture and language, committed to promoting cooperation at regional and international levels. Hungarian Prime Minister Viktor Orbán underscored Azerbaijan’s value to Europe: “Your incredible achievements, economic development, and investments in renewable energy...

Gabala 2025: What the Turkic World Will Discuss Amid Global Turbulence

On October 7, leaders of the Organization of Turkic States (OTS) will gather in Gabala, Azerbaijan, for the 12th summit under the theme “Regional Peace and Security.” At first glance, it may look like another routine engagement. Yet against the backdrop of overlapping global crises, the forum is increasingly a test of the OTS’s maturity and relevance. The summit unfolds amid a turbulent international landscape. Afghanistan continues to cast a shadow over Central Asia: economic volatility, migration risks, and the activity of extremist groups remain sources of concern for OTS members. The ongoing war in Ukraine, meanwhile, is reshaping Eurasian transit routes, placing the bloc’s states in delicate positions between East and West. At the same time, violence in the Middle East is adding to the pressures on Turkey’s already complex foreign policy environment. The Middle Corridor at the Center A key theme in Gabala will be the advancement of the Middle Corridor, formally known as the Trans-Caspian International Transport Route. This east–west route connects China with Europe via Kazakhstan, the Caspian ports of Aktau and Kuryk, Azerbaijan, Georgia, and Turkey. Investments are moving forward across the chain: Kazakhstan is expanding port and rail capacity, Azerbaijan is modernizing the Port of Baku in Alat, Georgia is upgrading its railway hubs, and Turkey is reinforcing the Baku–Kars line. Once a logistical project, the corridor is evolving into a strategic framework that ties together economic, environmental, and security considerations. Customs harmonization, digital tracking systems, and sustainability standards are now discussed as much as cargo volumes. Security, Coordination, and Soft Power Security will also be on the table, though framed in practical rather than military terms. Issues such as counter-terrorism cooperation, cyber resilience, disaster response, and the safety of emerging transit corridors are likely to feature. In this sense, security is increasingly seen as the foundation for trade and investment rather than a standalone agenda. Beyond infrastructure, OTS continues to develop soft power tools. Educational exchanges, cultural cooperation, green energy initiatives, and water management projects are part of efforts to build intra-regional trust. The recently inaugurated UN Regional Center for the SDGs in Almaty provides another anchor, aligning the Turkic bloc with global sustainability frameworks. A Turning Point for the Turkic Council? Founded in 2009 primarily as a cultural and humanitarian forum, the OTS is now edging toward a broader role. By coordinating infrastructure projects, harmonizing regulations, and cautiously addressing security concerns, it is positioning itself as a relevant player in Eurasian affairs. Much will depend on whether Gabala produces more than communiqués. Concrete steps on the Middle Corridor, digital customs corridors, joint water initiatives, or disaster coordination could demonstrate that the OTS is maturing into a platform for practical solutions. While major breakthroughs are unlikely, even incremental progress would signal that the Turkic Council is becoming a pillar of regional stability and integration.

Official Meetings in Almaty Boost Efficiency of Trans-Caspian Transport Route

Almaty hosted a high-level meeting on October 1 of delegations from countries participating in the Trans-Caspian International Transport Route (TITR). The TITR is also known as the Middle Corridor, a strategic Eurasian trade link connecting China, Central Asia, and Europe. Senior officials from Azerbaijan, Georgia, Kazakhstan, and Turkey convened to discuss ways to enhance the corridor’s efficiency and competitiveness. Key Agreements Signed Among the main outcomes was the signing of an action plan aimed at removing bottlenecks along the TITR. The document outlines coordinated measures by the railway companies of Kazakhstan, Azerbaijan, and Georgia to streamline cargo transportation. The plan includes the introduction of a unified long-term tariff across the corridor and strategies to expand its overall capacity. Another major development was an agreement between the European Bank for Reconstruction and Development (EBRD) and JSC Aktau International Sea Trade Port to modernize port infrastructure and acquire new ship-to-shore cranes. The initiative, supported by up to €45 million in financing from the EBRD and the European Union, aims to significantly boost container-handling capabilities at Aktau, Kazakhstan’s principal maritime hub on the Caspian Sea. The project includes the extension of two berths and the acquisition of weather-resistant cranes, enabling the port to operate two fully dedicated container berths. By the end of 2026, Aktau is expected to host the largest container terminal in the Caspian region, with an annual handling capacity of up to 240,000 twenty-foot equivalent units (TEUs). Regional Cooperation Under the OTS Also on October 1, Almaty hosted the 8th meeting of transport ministers of the Organization of Turkic States (OTS), which includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan. The ministers focused on accelerating the development of the TITR through greater adoption of digital technologies and electronic transit systems. Participants endorsed initiatives to enhance maritime transport, including expanded Caspian shipping, the construction of new transshipment facilities, and the launch of additional ferry services. The meeting also backed efforts to establish regular block train operations, particularly along the Baku-Tbilisi-Kars railway corridor.