BAKU, Azerbaijan, March 7. The volume of trade turnover between Azerbaijan and the countries of the Organization of Turkic States (OTS) in 2023 amounted to $9 billion, Deputy Minister of Economy of Azerbaijan Sahib Alakbarov said, Trend reports.
He made the remark during a conference on "Economic reforms and modern challenges for improving the business environment" in Baku.
“The Trade Facilitation Strategy whitepaper will improve trade relations and the business environment inside the OTS. To develop an action plan for implementing the OTS strategic paper on trade facilitation, several areas were identified: supporting regional trade agreements, monitoring and evaluating trade facilitation actions, and digitalizing trade operations. Activities within the scope of the OTS, the current position, and future tasks are very essential to the country,” he emphasized.
To note, OTS members are Azerbaijan, Türkiye, Kazakhstan, Kyrgyzstan and Uzbekistan. The observer states are Turkmenistan, Hungary and the Turkish Republic of Northern Cyprus.
Azerbaijan's foreign trade turnover amounted to $51.18 billion (over $33.89 billion - exports, $17.28 billion imports) in 2023.
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