3rd General Assembly of Union of Turkic Chambers of Commerce and Industry Held in Astana
Astana, The Gulf Observer: The 3rd General Assembly of the Union of Turkic Chambers of Commerce and Industry was held in Astana, bringing together representatives of state bodies, the business community and development institutions from member states of the Organization of Turkic States (OTS), according to Kazakhstan’s Ministry of National Economy.
Addressing the gathering, Vice Minister of National Economy of Kazakhstan Assan Darbayev briefed participants on Kazakhstan’s cooperation with OTS member states, stressing that Astana views the Organization of Turkic States as a strategic platform for deepening economic integration, expanding investment ties, strengthening industrial cooperation and developing logistics corridors.
Darbayev noted that the Turkic region possesses significant economic potential, underscoring that the shared objective is to fully unlock this potential by creating sustainable value-added chains and new growth opportunities for businesses. He emphasized that the positive dynamics of mutual trade demonstrate the sustainability and relevance of economic cooperation among Turkic states.
He revealed that Kazakhstan’s trade turnover with OTS member states reached US$10.4 billion in the first 10 months of 2025, marking a 10.9 percent increase compared with the same period in 2024. Kazakhstan’s exports rose by 17.1 percent to US$7.6 billion, while imports totaled US$2.8 billion, resulting in a trade surplus of US$4.8 billion.
Export growth was driven by increased shipments of copper and copper cathodes, crude oil, wheat, petroleum products, sunflower oil, metallurgical products and agro-industrial goods. Darbayev said this trend reflects both Kazakhstan’s continued reliance on raw materials and a gradual expansion into higher value-added products.
He also highlighted Kazakhstan’s investment attractiveness, citing the country’s strong positions in international rankings, including the World Bank’s Doing Business indicators and the Business Ready 2025 index. Darbayev noted that the government aims to attract at least US$150 billion in foreign direct investment and raise the share of investments in fixed capital to 23 percent of GDP by 2029.
To support these goals, he said Kazakhstan has adopted a new Investment Policy Concept through 2030, focusing on the development of competitive, high value-added industries. The country is also promoting initiatives to improve the business climate, reduce trade barriers and strengthen transport and logistics connectivity, while supporting the Turkic Investment Fund and the launch of digital and trade platforms.
The Union of Turkic Chambers of Commerce and Industry was established in 2023 and brings together Kyrgyzstan, Azerbaijan, Kazakhstan, Türkiye and Uzbekistan, with Hungary and Turkmenistan participating as observers. Azerbaijan chaired the Union in 2025.
According to figures shared at the event, Türkiye’s trade with Turkic states over the past five years reached US$62.6 billion, underscoring the growing economic ties within the Turkic world.
