More trade between Organization of Turkic States members would benefit all: Turkish trade chief

By Gokhan Ergocun

ISTANBUL (AA) - Trade between Organization of Turkic States (OTS) posted a significant rise in the recent years, jumping from $33 billion in 2022 to $42 billion in 2023, but boosting it even more would benefit all the countries involved, the Turkish trade minister said on Tuesday.

Speaking in Istanbul at the first meeting of the Council of Competition Authorities of Member and Observer States of the OTS, Omer Bolat said the current trade between OTS member is a small slice of member countries' international trade.

"If we unite our power more and increase our solidarity, we will be more influential in the world arena. Our unity is our strength. We must not forget this principle," he urged.

He added: "As the OTS, our young population of 170 million, our total national income of $1.5 trillion, our rich natural resources, and our presence on the world's most important trade route, which we call the Middle Corridor, are great opportunities for us to further develop our trade and economic cooperation."

Bolat said the competition council will undertake a very important mission to share information and experience in economic ties, trade relations, production, and following international developments.

He added: "Our Competition Authority carries out important activities in developing countries in terms of spreading the culture and understanding of competition and establishing institutionalization.

"The Trade Ministry is following and supporting all these developments with appreciation."​​​​​​​