Kyrgyzstan has significantly increased trade with member countries of the Organization of Turkic States (OTS), announced Kyrgyz Economy Minister Daniyar Amangeldiev at the 13th meeting of OTS ministers of economy and trade in Bishkek, reports Economist.kg.
According to him, total trade volume grew by 62%, exports increased by 54.6%, and imports by 66%. Amangeldiev stated that these figures reflect the effectiveness of the country's economic policies but emphasized the need to continue developing new cooperation opportunities.
One of the key projects discussed at the meeting was the construction of the China–Kyrgyzstan–Uzbekistan railway, which will open new logistics routes between Europe, China, and Central Asian countries.
The meeting also addressed the development of the green economy and a partnership agreement on the digital economy, which aims to strengthen trade relations in the era of digital transformation.
Meanwhile, the combined Gross Domestic Product (GDP) of the OTS member countries is approaching $1.9 trillion. This has been made possible by economic growth averaging 4.4% annually, supported by a population of over 175 million people, reported Turkish Trade Minister Ömer Bolat at the OTS meeting in Bishkek.
He noted that the natural resources and strategic location of the OTS countries along global trade routes provide a solid foundation for further strengthening economic cooperation.
Ömer Bolat added that in 2023, the volume of mutual exports among OTS states reached approximately $35.6 billion, accounting for 6% of their total global exports. In his view, this growth reflects the strengthening of economic ties within the organization.
CentralasianLIGHT.org
October 18, 2024