Aggregate GDP of Organization of Turkic States is approaching $1.9 trillion

15:40, 18 октября 2024, Bishkek - 24.kg news agency , Ilya PETCHENKO

The aggregate gross domestic product (GDP) of the member countries of the Organization of Turkic States (OTS) is approaching $1.9 trillion. This has become possible thanks to economic growth, which averages 4.4 percent per year and is supported by a population of more than 175 million people. The Trade Minister of Turkey Omer Bolat said at a meeting of the OTS members in Bishkek.

He noted that the natural resources and strategic position of the OTS countries on world trade routes create a solid foundation for further strengthening economic cooperation.

The minister added that the volume of mutual exports between the OTS states amounted to about $35.6 billion in 2023, which corresponds to 6 percent of their total exports at the global level. In his opinion, the growth of these indicators shows the strengthening of economic ties within the organization.

«I am confident that in the near future we will be able to increase the share of mutual exports to 10 percent of our total exports,» Omer Bolat noted.

The OTS countries have demonstrated their ambitions by reaching a trade turnover with the world of $1.2 trillion.