A common payment system may be established among Turkic states, Kürşad Zorlu, Deputy Chairman of Türkiye's Justice and Development Party (AK Party) and a member of parliament from Ankara, told APA-Economics.
He noted that steps could be taken toward establishing a common and integrated payment system among Turkic states.
Zorlu stated that the proposed joint Development Bank could serve as an important foundation in this regard.
“If we can establish such a bank together, we will have the opportunity to conduct trade in our national currencies through a stronger legal and institutional platform. In this case, our existing problems will also decrease,” he emphasized.
According to him, certain bilateral agreements currently exist between the central banks of Turkic states.
“But if we can establish a common bank, we can enable our national currencies to circulate more strongly in the region and expand our trade relations,” Zorlu noted.
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