Tur­kic Coun­cil’s trade cham­ber opens in Is­tan­bul

Dünya Executive - - BUSINESS -

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.

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