• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.10440 -0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%

Viewing results 1 - 6 of 18

Informal OTS Foreign Ministers’ Meeting Tests Limits of Turkic Coordination

Escalating tensions linked to the widening conflict in the Middle East have tested the political cohesion of the Organization of Turkic States (OTS), according to Kazakh political commentator Dzhanibek Suleyev. Recent incidents affecting both Azerbaijan and Turkey — including drone strikes in Azerbaijan’s Nakhchivan Autonomous Republic and a missile intercepted by Turkish air defenses — have raised security concerns across the wider region. Suleyev argues that developments of this scale might normally prompt an urgent summit of heads of state. Instead, Turkey convened an informal meeting of foreign ministers and senior diplomatic representatives from OTS member states. The gathering took place on March 7, when officials convened at the invitation of Turkish Foreign Minister Hakan Fidan. According to Turkish media, ministers later met with President Recep Tayyip Erdoğan during their visit. Speaking to The Times of Central Asia, Suleyev drew attention to how the meeting was covered in the media of Central Asian member states. “In the Uzbek press, coverage was limited, and even on the website of their Ministry of Foreign Affairs, there is not a single word about the informal summit of OTS foreign ministers. Kazakhstan, moreover, was represented not by Foreign Minister Yermek Kosherbayev but by his deputy Alibek Bakayev. Kyrgyzstan’s Foreign Ministry issued four notes about the trip of its minister Jeenbek Kulubaev to Istanbul, three of which were devoted to the summit, but without any particular details,” Suleyev said. Kazakhstan’s Foreign Ministry published a short summary of the meeting, noting in broad terms that representatives discussed cooperation among Turkic states and regional developments. According to Suleyev, the joint statement adopted after the meeting was difficult to find outside of Azerbaijani media. One of the few outlets to publish the text in full was Azerbaijan’s APA news agency. Much of the statement focused on the incidents affecting Azerbaijan and Turkey, stressing that “any threat to the security of OTS member states causes concern for the entire Organization… The ministers strongly condemned the attacks carried out from the territory of the Islamic Republic of Iran against the Nakhchivan Autonomous Republic of the Republic of Azerbaijan, including strikes against civilian facilities and the territory of the Republic of Turkey,” the statement continued. “The rest of the statement boils down to destabilization in the Middle East could lead to a global economic crisis, the Palestinian conflict must be resolved taking into account UN resolutions, and so on,” Suleyev told TCA. One notable event during the meeting was the foreign ministers’ reception by President Erdoğan. Official summaries released by participating governments described the discussion in diplomatic terms. “Kazakh sources wrote that ‘prospects for the development of cooperation within the framework of Turkic cooperation were discussed,’” Suleyev said. Kyrgyz statements used similar language, stating that the “President of Turkey… noted the importance of regular dialogue on current regional and international issues and expressed interest in further developing multilateral cooperation within the framework of the Organization.” “In short, these are streamlined diplomatic formulations without specific details,” Suleyev said. According to a press...

OTS Faces Security Test from Turkey to Central Asia

Iran's widening war has now reached the institutional space linking Turkey, the South Caucasus, and Central Asia. Turkey said on March 4 that NATO air defenses destroyed an Iranian ballistic missile entering Turkish airspace, while Azerbaijan said the next day that four Iranian drones crossed into Nakhchivan, injuring four people, and damaging civilian infrastructure at the exclave’s airport. Iran denied targeting Nakhchivan; in the Turkish case, the missile’s intended target has not been fully clear in public reporting. Even so, the combined effect was unmistakable. By March 7, the Organization of Turkic States (OTS) had become more than a bystander to a Middle Eastern war that had earlier seemed outside its main agenda. This is what gave the OTS foreign ministers’ meeting in Istanbul its significance. The Turkish Foreign Ministry announced on March 6 that the informal meeting of the OTS Council of Foreign Ministers would be held in Istanbul on March 7, with Foreign Minister Hakan Fidan hosting. After the meeting, the ministers adopted a joint statement declaring that threats to the security of any OTS member are a matter of concern for the whole organization. That language does not make the OTS a military alliance. It does, however, show the organization moving more openly into collective political-security signaling when member states come under attack. Why Nakhchivan Matters Nakhchivan is central to the logic of this story. The exclave is an integral part of Azerbaijan, but is separated from the rest of the country. It borders Armenia, Iran, and Turkey, making it significant out of proportion to its size. A military strike there is not a routine border incident. It reaches one of the most sensitive nodes in the wider Turkic political space: it is a meeting point for Azerbaijani sovereignty, Turkish strategic concern, and Iranian proximity. Until recently, Nakhchivan’s special status and borders were anchored in the 1921 Moscow and Kars treaties, which gave Turkey and Soviet Russia a formal say over the exclave’s autonomy and, it could be argued, its external security. But last year, Baku folded Nakhchivan more tightly into Azerbaijan’s domestic legal order by removing those references (along with other changes) from the constitution of the exclave, which has suddenly become a target in a much wider regional confrontation. Baku’s response to the Iranian attack showed that it saw the incident in political as well as tactical terms. President Ilham Aliyev said Azerbaijan would prepare retaliatory measures. Reuters later reported that Azerbaijan had ordered the evacuation of its diplomats from Iran, citing safety concerns. This is understandable, particularly in light of the January 27, 2023, incident when an armed attacker entered Azerbaijan’s embassy in Tehran and opened fire, killing the head of the embassy’s security and wounding two other staff. Baku called this a terrorist attack, evacuated most of its diplomatic personnel, and suspended embassy operations. Azerbaijani officials also said the March 5 attack on Nakhchivan violated international law, rejecting any implication that it could have been a technical mishap. The stakes widened further after...

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.

Kazakhstan Boosts Trade with Turkic States on Back of Rising Exports

Kazakhstan has significantly increased mutual trade volumes with member states of the Organization of Turkic States (OTS), primarily driven by a surge in exports. According to data from the first ten months of 2025, trade turnover with OTS countries rose by nearly 11%, Deputy Minister of National Economy Asan Darbaev announced at the Third General Assembly of the Union of Turkic Chambers of Commerce and Industry (TCCI) in Astana. The OTS includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan, Turkey, and Uzbekistan as full members. Hungary and Northern Cyprus hold observer status and contribute to deepening economic, cultural, and political cooperation across the Turkic world. “At the end of ten months of 2025, the volume of mutual trade between Kazakhstan and OTS countries reached approximately $10.4 billion, which is almost 11% higher than the same period last year,” Darbaev stated. He noted that this growth was largely due to a 16.6% increase in Kazakhstani exports to OTS member states, which totaled $7.6 billion. Imports from these countries to Kazakhstan amounted to $2.8 billion. The export surge was driven by increased shipments of copper and copper cathodes, crude oil, wheat, petroleum products, sunflower oil, and a range of metallurgical and agro-industrial goods. According to Darbaev, this indicates not only the continued strength of Kazakhstan’s raw materials sector but also the gradual diversification of exports with higher value-added products. Turkey, Uzbekistan, Kyrgyzstan, and Azerbaijan remain Kazakhstan’s principal trading partners within the OTS. Turkey leads with a trade turnover of $4.36 billion, followed by Uzbekistan at $3.88 billion. Trade with Kyrgyzstan reached $1.78 billion, while trade with Azerbaijan stood at approximately $390 million. During the assembly, Kazakhstan assumed the rotating chairmanship of the TCCI for the first time since the Union's establishment in 2019. The organization includes chambers of commerce and industry from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, Turkmenistan, and Hungary. It serves as a key platform for advancing trade, industrial cooperation, investment, and technology exchange among member and observer states. Raimbek Batalov, chairman of the presidium of Kazakhstan’s National Chamber of Entrepreneurs “Atameken,” was appointed head of the TCCI for a one-year term. “The Turkic economic space today possesses all the prerequisites for a qualitative leap forward, scale, resources, an institutional foundation, and political will. Our shared goal is to convert this potential into sustainable production, investment, job creation, and improved living standards,” Batalov said. Delegates at the assembly identified priority areas for future cooperation, including the development of joint industrial projects, operationalization of the Turkic Investment Fund, reduction of trade and technical barriers, and enhanced transport and logistics connectivity. Previously, The Times of Central Asia reported that energy ministers from OTS countries had discussed key joint initiatives in December 2025 as part of ongoing regional collaboration.

Organization of Turkic States Discusses Key Eurasian Energy Projects

At the 5th meeting of ministers responsible for energy within the Organization of Turkic States (OTS), held on December 10 in Istanbul, OTS Secretary General Kubanychbek Omuraliev outlined major joint energy initiatives underway among member states. Founded in 2009, the OTS comprises Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Turkmenistan. Hungary and Northern Cyprus participate as observer states. Omuraliev touched upon the following projects: Major oil and gas routes such as the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, Baku-Tbilisi-Erzurum (BTE) gas pipeline, South Caucasus Pipeline, Trans-Anatolian Natural Gas Pipeline (TANAP), Trans Adriatic Pipeline (TAP), and the Iğdır-Nakhchivan gas pipeline; A strategic partnership between Azerbaijan, Kazakhstan, and Uzbekistan to develop and transmit green energy; The Azerbaijan-Georgia-Turkey-Bulgaria Green Energy Corridor, which extends the Central Asia-Azerbaijan corridor and opens new avenues for energy exports to Europe; Construction of the Kambarata-1 Hydropower Plant in Kyrgyzstan, a project jointly developed with Kazakhstan and Uzbekistan; and A planned Black Sea submarine cable to transmit renewable energy. Omuraliev emphasized that enhanced intra-OTS cooperation bolsters both the economic potential of member states and regional energy security. Ministers at the meeting noted the significant fossil fuel and clean energy resources held by OTS members and observers, describing the region as a strategic energy bridge between Asia and Europe. They stressed that advancing practical cooperation is essential amid growing global energy demand and the accelerating energy transition. Participants agreed to move forward with joint projects under the OTS framework, including the establishment of a Regional Center for Technologies and Green Initiatives. As previously reported by The Times of Central Asia, on December 5, the Board of Governors of the Turkic Investment Fund announced in Bishkek that the fund will begin operations in the first quarter of 2026. The Turkic Investment Fund is the first dedicated financial institution jointly established by OTS member states. Headquartered in Istanbul, its mandate is to promote economic cooperation, boost intra-regional trade, and support sustainable development by financing major joint initiatives across the region.

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.