The Turkic World, with a population of 107 million and an area of 4.5 million square kilometers, creates vast trade and investment opportunities, said the Secretary General of the Organization of Turkic States Kubanychbek Omuraliev, at the "Turkic Investment Fund and the Union of Turkic Chamber of Commerce and Industry (TCCI): Information Session and B2B for Business Leaders" event, APA-Economics reports.
He stated that the total GDP in the Turkic world exceeds USD 4.3 trillion, and the region is the third-largest energy supplier in the world.
The Secretary General emphasized that the Middle Corridor has strategic importance as the main trade route between the East and the West: "This corridor is 2,000 kilometers shorter than the Northern Corridor and delivers goods from China to Europe three times faster than sea transport."
B. Amreyev noted that the China-Kyrgyzstan-Uzbekistan Railway project will shorten the distance to Middle Eastern and European markets by 900 kilometers and increase the annual cargo capacity to 12-15 million tons.
He called on the businesspeople of the Turkic world to invest in projects to be carried out in the region: "The trade volume between the member states of the Organization of Turkic States currently accounts for only 7% of total exports, and more investment should be attracted to increase this numbers."
"The activation of the Turkic Investment Fund will support small and medium-sized businesses, finance key infrastructure and economic projects, and also expand trade and investment opportunities. The Fund will provide financial support for innovative projects in industries such as logistics, energy efficiency, information and communication technologies, and the green economy," the Secretary General added.
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