Turkic Council’s trade chamber opens in Istanbul
The Turkic Chamber of Commerce and Industry (TTCI) officially opened its doors in Istanbul on July 31. Speaking at its first general assembly, Turkey’s Trade Minister, Ruhsar Pekcan, said the establishment of the union will help Turkic Council countries -- plus Uzbekistan and Turkmenistan - to boost their bilateral trade volume.
“As Turkic Council countries, our gross domestic product (GDP) reaches $1 trillion but our bilateral trade volume fell short of this figure,” Pekcan underlined. The share of Turkic Council countries’ trade volume rose 5 percent globally to $522 billion last year, she said. “Bilateral trade volume among Turkic Council countries increased 16.7 percent on a yearly basis to $6.5 billion,” she said. When Uzbekistan and Turkmenistan were included in this figure, it reached $9 billion, she added. “It is about time we reflect our strong ties to our commercial relations,” Pekcan said. She called on Uzbekistan and Turkmenistan to join the Turkic Council to strengthen its commercial structure.
The Turkic Council was established in 2009 as an international intergovernmental organization with the aim of promoting comprehensive cooperation among Turkic speaking states.