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Baku hosts meeting of Economic Ministers of Cooperation Council of Turkic-speaking States â€“ UPDATED - PHOTOSESSION

Baku hosts meeting of Economic Ministers of Cooperation Council of Turkic-speaking States â€“ <font color=red>UPDATED - PHOTOSESSION</font>

14 August 2012 13:04 (UTC +04:00)

The meeting has been attended by more than 100 representatives from state and private sector of Azerbaijan, Turkey, Kazakhstan and Kyrgyzstan, as well as by the CCTS Secretary General Khalil Akinci.

Delivering speech at the event, Azerbaijani Minister of Economic development Shahin Mustafayev noted that Baku meeting had been organized within the framework of preparation for Bishkek Summit. Mustafayev declared that total GDP of member states is equal to $ 1 bn, trade turnover between the countries grew by 35% within Q1, 2012 and rose 55.5%last year.

Moreover, Mustafayev gave detailed information about Azerbaijani economy, spoke about the huge projects realized in oil-gas and transport sector of the region. He noted that these projects play bouncing role in strengthening of economic cooperation.

Minister of Economic Development and Trade of Kazakhstan Bakytzhan Sagintayev noted that works are underway on elimination of obstacles in entrepreneurship, trade, transport and other economic spheres. He expressed that the states had wide potential for development of ties.

Minister of Economy and Antimonopoly Policy of Kyrgyzstan Temir Sariyev noted that he supported establishment of Development Fund of Turkic-speaking States and considers that this Fund will strengthen economic cooperation more by direct investing.

Turkish Economic Minister Zafer Caglayan spoke about the possibility and purpose of establishment of the Investment Agency. He noted that this organization will support development of mutual investments between the countries.

CCTS Secretary General Khalil Akinci noted that Baku meeting would focus on improvement of relations in transport sector, diversification of national economy, mutual investments and attractions of invests form other countries. Proposals related to the mentioned issues will be prepared and submitted at Bishkek Summit.

Note that, Bishkek Summit will be held on August 23. Meeting of FMs of 4 countries will be held on August 22.