Kazakhstan, Azerbaijan, Kyrgyzstan, Turkey set up Turkic chamber of commerce and trade
ALMATY. May 17 (Interfax) - Representatives of Kazakhstan, Azerbaijan, Kyrgyzstan, and Turkey signed the charter of a new Turkic chamber of commerce and industry on Friday, the press service of the Kazakh prime minister said in a statement.
"The transformation of the Turkic business council into an international organization will give fresh impetus to the development of economic cooperation between the Turkic countries. It will also help broaden business cooperation and increase flow of investments to the Kazakh economy," the statement said.
The document was signed in Nur-Sultan by Head of Kazakhstan's National Chamber of Entrepreneurs Atameken Ablai Myrzakhmetov, President of the National Confederation of Entrepreneurs' (Employers') Organizations of Azerbaijan Mammad Musayev, President of Kyrgyzstan's Chamber of Trade and Commerce Marat Sharshekeyev, and President of the Union of Chambers and Commodity Exchanges of Turkey Rifat Hisarciklioglu.
"The Turkic countries' combined GDP stands at over $1 trillion today, and their population exceeds 150 million. These countries import products worth over $260 billion annually. The joint chamber will create the foundation for production growth inside these countries; in other words, it will ensure collective import substitution," the statement said.
The Turkic Council was established in October 2009 and comprises Azerbaijan, Turkey, Kazakhstan, and Kyrgyzstan.