The third General Assembly of the Union of Turkic Chambers of Commerce and Industry has taken place in Astana, Kazakhstan, bringing together representatives of government agencies, business circles, and development institutions from the Organization of Turkic States (OTS).
Speaking at the event, Vice Minister of National Economy Assan Darbayev outlined Kazakhstan’s expanding economic cooperation with OTS member states, The Caspian Post reports via Kazakh media.
He emphasized that Astana views the Organization of Turkic States as a strategic platform for strengthening economic integration, boosting investment flows, developing industrial cooperation, and expanding key logistics corridors across the Turkic region.
Darbayev said that the Turkic region today holds substantial economic potential. The shared objective, he noted, is to fully unlock this capacity by building sustainable value-added chains and creating new growth opportunities for businesses. He stressed that the steady growth in mutual trade clearly demonstrates the relevance and resilience of economic cooperation among Turkic countries.
Kazakhstan’s trade turnover with OTS member states reached $10.4 billion in the first ten months of 2025, marking a 10.9 per cent increase compared to the same period in 2024. Exports surged by 17.1 per cent to $7.6 billion, while imports amounted to $2.8 billion, resulting in a trade surplus of $4.8 billion.
Export growth was largely driven by increased shipments of copper and copper cathodes, crude oil, wheat, petroleum products, sunflower oil, as well as metallurgical and agro-industrial goods. This trend reflects Kazakhstan’s continued reliance on raw materials, alongside a gradual shift toward higher value-added production.
Darbayev also highlighted Kazakhstan’s strong investment appeal, pointing to favorable positions in international rankings such as the World Bank’s Doing Business and the Business Ready 2025 index. He said the government aims to attract at least $150 billion in foreign direct investment and raise the share of fixed capital investment to 23 per cent of GDP by 2029. These goals are supported by the newly adopted Investment Policy Concept through 2030, which prioritizes competitive, high-value-added industries.
In addition, Kazakhstan continues to promote initiatives aimed at improving the business climate, reducing trade barriers, and enhancing transport and logistics connectivity. The country actively supports the Turkic Investment Fund, as well as the development of digital and trade platforms within the Turkic space.
The Union of Turkic Chambers of Commerce and Industry was established in 2023 and brings together Kyrgyzstan, Azerbaijan, Kazakhstan, Türkiye, and Uzbekistan, with Hungary and Turkmenistan holding observer status. Azerbaijan chaired the Union in 2025. Notably, Türkiye’s trade with Turkic states over the past five years has reached $62.6 billion, underscoring the growing economic ties across the region.
