Turkic Chamber of Commerce and Industry set up

NUR-SULTAN. KAZINFORM The constituent instrument of the joint Chamber of Commerce and Industry of the Turkic countries has been signed at the meeting of the Turkic Business Council held as part of the Astana Economic Forum.

"The Turkic Chamber was initiated by First President of Kazakhstan-Yelbasy Nursultan Nazarbayev in order to enhance regional development. The Kazakh Government supports and helps the Turkic Council in its undertakings and development. On behalf of the Government we fully support this idea. Development of the Turkic Chamber of Commerce and Industry will give a new impetus to development of mutual beneficial cooperation between the business communities of countries," Kazakh PM Askar Mamin told the Turkic Business Council session.

According to Atameken head Ablai Myrzakhmetov, the main goal of the Chamber is to bolster economic cooperation between the Turkic countries. The new organization will replace the Turkic Business Council.

The Turkic Chamber of Commerce and Industry is called to contribute to the development of industrial and farm products across the Turkic-speaking countries, improvement of the investment climate in the Turkic Council member states to increase foreign investments, etc.

"There are 152,000 mln people live in the Turkic-speaking countries. The GDP amounts to more than USD 1.3 tn, export of the Turkic-speaking countries hit USD 260 bln. All this suggests the great economic potential of our countries. We have to foster cooperation in textile, food and light industries, agriculture and construction sector. I propose to focus on three or four economic sectors. We may set up joint industrial zones (...) It is crucial to resolve customs duties problems which actually erect barriers," Myrzakhmetov noted.