Baku: A joint development bank may soon be on the horizon for Turkic states, as Krsad Zorlu, Deputy Chairman of Trkiye's Justice and Development Party (AK Party) and a parliament member from Ankara, announced at the 2nd International Conference of Leading National Think Tanks of the Organization of Turkic States. Held in Baku, the conference highlighted the ongoing initiatives aimed at strengthening economic ties among Turkic nations.

According to Azeri-Press News Agency, Zorlu emphasized the significance of the Turkic Investment Fund, which continues to operate with a substantial budget. He pointed out that establishing a joint development bank could be the next crucial step to enhance the Turkic world's influence in the global financial sector. Trkiye has already conducted a study on this potential project and has translated the related document into various Turkic languages for submission to the Secretariat General of the Organization of Turkic States.

Zorlu elaborated that this proposed financial institution would extend beyond utilizing existing budgetary resources by creating new financing opportunities. Specifically, it aims to offer credit and support mechanisms to businesspeople working on the development of the Middle Corridor. Additionally, Zorlu highlighted the importance of cooperation within the Turkic world towards adopting a common alphabet, mentioning Uzbekistan's recent efforts to align with the 34-letter standardized script.

He further stated that Trkiye perceives the Middle Corridor not just as a transport link but as a platform for broader economic prospects, underscoring the strategic significance of these initiatives for the Turkic nations.