Exports to Organization of Turkic States countries increased to $6.8 billion

Turkiye’s exports to the member countries of the Organization of Turkic States (TDT) increased by 14.2% last year compared to 2022, reaching $6 billion 831 million.

The countries of the Organization of Turkic States (Turkiye, Azerbaijan, Kazakhstan, Kyrgyzstan and Uzbekistan) are becoming an increasingly important power center with the vision, projects and activities they put forward in the new conjuncture. While countries strengthen their unity, cooperation, solidarity and integration on the basis of partnership, Turkiye continues to make progress in its trade with these countries.

While member countries struggle with the world’s food and energy crises with their resources, power and vision, the world’s important logistics channels and geostrategic locations increase the importance of these countries.

There has been a great increase in trade between member countries of the Organization of Turkic States in recent years. Trade between member countries increased from $33 billion in 2022 to $42 billion in 2023.

The countries have a population of approximately 170 million, mostly young people. Member countries with a total national income of $1.5 trillion offers great opportunities for commercial and economic cooperation due to its rich natural resources and location in the Middle Corridor on the world’s most important trade routes.

Most exports were to Azerbaijan

According to information compiled from the Turkish Exporters Assembly (TIM) data, Turkiye’s exports to the TDT countries consisting of Azerbaijan, Kazakhstan, Uzbekistan and Kyrgyzstan increased by 14.2% last year compared to 2022, reaching $6.8 billion.

During the said period, the country with the most exports was Azerbaijan with $2.4 billion. It was followed by Kazakhstan with $1.7 billion, Uzbekistan with $1.6 billion, and Kyrgyzstan with $1 billion.

The chemical substances and products sector made the most exports to the countries within the Organization of Turkic States. The total exports of this sector to 4 countries were recorded as $1 billion 173 million last year.

The most exports were made from Istanbul with $4 billion. Megakent shouldered 58.5% of exports to CSA countries.

“The Organization of Turkic States works with its countries in more than 30 areas”

TDT Deputy Secretary General Merey Mukazhan said that the countries of the Organization of Turkic States work in more than 30 fields and that member countries have serious opportunities to develop their economies.

Mukazhan stated that there were good developments in the economy of the Turkish world countries and that the Turkish Investment Fund was officially established in the last quarter of last year, and talked about the contributions of this Fund to the countries.

Economic cooperation between member countries continues to develop rapidly, and the trade volume between the countries, which was $33 billion in 2022, increased to $42 billion last year.

Mukazhan said, “TDT member countries are actively working to develop the Middle Corridor. Member countries are in a very strategic place in the Turan region, and this creates an advantage that businessmen of member countries can benefit from.”

Calling on Turkish businessmen to “not break their ties with the Turkic World countries”, Mukazhan underlined that there are many investment opportunities and cooperation opportunities for businessmen in member countries.

Source: Trthaber / Prepared by Irem Yildiz

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