ANKARA: Ministers from the Organization of Turkic States (OTS) have endorsed Kazakhstan’s proposal to establish a Council on Green Finance and a Council of Central (National) Banks for member states. This decision was made during the 13th meeting of the Ministers of Economy and Trade of OTS member countries.

According to Trend News Agency, the initiative is part of Kazakhstan’s ongoing efforts to bolster Turkic integration and foster collaborative economic strategies. Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov underscored Kazakhstan’s commitment to these goals, highlighting the significance of joint initiatives in advancing economic cooperation among member countries.

“The Turkic Investment Fund, established within the Turkic Council, reflects our collective commitment to expanding economic and investment cooperation, executing joint investment projects, and attracting capital, technology, and talent for the dynamic growth and prosperity of our countries,” Baibazarov stated.

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n addition to the green finance initiative, ministers also discussed plans for the next meeting of the Ministers of Economy and Trade, which is scheduled to be held in Turkestan. This upcoming meeting will coincide with the inauguration of the special economic zone “TURAN,” another Kazakhstan-led initiative supported by all Turkic Council nations.

The Cooperation Council of Turkic-speaking States, initially founded on October 3, 2009, was transformed into the Organization of Turkic States in 2021. By the end of August 2024, mutual trade between Kazakhstan and other Turkic Council countries had reached approximately $7.2 billion, reflecting the growing economic ties within the region.