The Organization of Turkic States (OTS) has become a key platform for fostering political, economic, and cultural cooperation among Turkic-speaking countries. With its 11th Summit held in Bishkek, Kyrgyzstan, on November 6, 2024, the OTS reaffirmed its commitment to strengthening ties within the Turkic World, focusing on economic integration, sustainable development, and digital transformation. Under the theme “Strengthening the Turkic World: Economic Integration, Sustainable Development, Digital Future, and Security for All,” the summit yielded significant agreements that further advance the collective vision of OTS member states. Azerbaijan, as a central figure in this process, continues to play a leading role in advancing regional cooperation, particularly in areas such as trade, transport, and digital infrastructure. As the OTS pushes forward with its ambitious agenda, it seeks to position itself as a powerful economic and geopolitical entity in the global landscape.

Strengthening the Organization of Turkic States: Azerbaijan's Continued Commitment to Regional Economic Integration

On November 6, 2024, the 11th Summit of the Heads of State of the Organization of Turkic States (OTS), held in Bishkek, Kyrgyzstan, marked a significant milestone in enhancing the unity and cooperation within the Turkic World. Under the theme "Strengthening the Turkic World: Economic Integration, Sustainable Development, Digital Future, and Security for All," the summit saw the adoption of critical agreements aimed at reinforcing the political, economic, and cultural ties among member states. The adoption of the Turkic World Charter and the signing of seven other important documents reflect the growing commitment to strengthening intra-regional ties and advancing a shared vision for the future.

Key outcomes included the declaration of Bishkek as the digital capital of the Turkic World for 2025, the awarding of the highest distinction of the Turkic World to Hungarian Prime Minister Viktor Orbán, and the affirmation of key agreements related to the status of permanent representations and flags of the Organization. Among the most noteworthy documents was the "United Sustainable Future" resolution, which outlines the green vision for the Turkic World and sets the foundation for future regional sustainability efforts. These agreements represent a collective step forward toward a more integrated and resilient Turkic community.

Economic Integration and Cooperation: A Growing Force

Azerbaijan, as a leading member of the Organization of Turkic States, has played a pivotal role in advancing the economic agenda. The significant strides made in the fields of transportation, security, and economic cooperation are underscored by Azerbaijan's leadership in these areas. President Ilham Aliyev highlighted the positive developments within the organization, emphasizing Azerbaijan's commitment to driving economic cooperation both regionally and globally. He also underscored the importance of the Middle Corridor and its role in facilitating trade and ensuring sustainable development.

The economic performance of the OTS member countries reflects a growing economic influence. In 2023, the total GDP of OTS countries reached $1.82 trillion, marking an 18% increase from the previous year and accounting for approximately 3% of global GDP. The growth in the non-oil sector, particularly in trade and industrial diversification, has been a key driver of this expansion.

In terms of foreign trade, the total trade turnover of OTS countries increased by 4.3%, reaching $1.48 trillion in 2023. The volume of trade among OTS countries rose by 24%, from $30.9 billion in 2022 to $38.3 billion in 2023. This upward trajectory continued into 2024, with mutual trade expected to surpass $45 billion, reflecting the growing strength and integration of the region’s economies. Despite challenges, the strategic positioning of OTS countries, including Azerbaijan, has provided a stable foundation for expanding bilateral and multilateral economic relations.

Investment Trends and Infrastructure Development

Foreign direct investment (FDI) in OTS countries reached $24 billion in 2023, though it marked a 15% decrease compared to 2022. This decline highlights the need for improving investment conditions, bolstering infrastructure, and enhancing the overall economic environment in the region. To foster further investment, the strengthening of the Turkic Investment Fund and greater support for the private sector will be crucial. These steps are key to ensuring diversified economic growth and sustainable development in the years ahead.

Azerbaijan’s geographical significance plays a central role in the economic dynamics of the region. Its strategic position in the East-West transport corridor, coupled with initiatives aimed at the digitalization of the Middle Corridor and trade facilitation, enhances the country’s status within the Organization. Azerbaijan’s investments are specifically directed at improving transit capacities and accelerating trade between Central Asia and Turkiye, which has led to a 15% increase in the volume of transit traffic between member and observer countries from January to September 2024, compared to the same period in 2023. This indicates a growing potential for expanding trade opportunities within the region.

Emerging Challenges and Strategic Priorities

The continued deepening of economic cooperation within the Organization of Turkic States presents both opportunities and challenges. The key areas requiring attention include enhancing competitiveness within domestic markets, diversifying trade relations, and ensuring the development of robust infrastructure. While the OTS countries are endowed with significant natural resources, including vast energy reserves, their ability to secure a stronger position in global markets depends on large-scale infrastructure investments, regional investment promotion policies, and the development of unified economic strategies.

In 2023, the proven natural gas reserves in OTS countries were estimated at 18.6 trillion cubic meters, and oil reserves stood at 5.3 billion tons. The energy sector remains a cornerstone of regional economic cooperation, and OTS countries have the potential to solidify their role as key global energy players. Moving forward, the digital economy and innovation sectors offer significant prospects for enhancing the region’s global economic position.

Looking Ahead: Strategic Goals for the Turkic World

The 11th Summit of the Organization of Turkic States in Bishkek highlighted both the growing economic integration of the region and the increasing importance of the OTS on the global stage. Azerbaijan’s efforts to further strengthen the Middle Corridor and promote digitalization will continue to play a crucial role in the region’s development. The ongoing cooperation within the OTS is expected to drive investment, trade, and economic development, ultimately enhancing the collective standing of the Turkic World in the global economy.

As the OTS countries work together to create a unified economic model, challenges such as improving competitiveness, enhancing infrastructure, and ensuring sustainable development will remain top priorities. The commitment to these objectives, coupled with a shared vision for the future, will be essential for the Turkic World to solidify its role as a major economic force in the global arena. In particular, Azerbaijan’s leadership in facilitating digital transformation and trade liberalization positions it as a central player in achieving these goals.

The continued efforts of the Organization of Turkic States to foster deeper economic, digital, and security cooperation will pave the way for a more integrated and prosperous future for the Turkic World, ensuring that it remains a key player in shaping global economic trends.