KOBIA: Trade and economic relations between Turkic states can be further strengthened

It is possible to develop and further strengthen trade and economic relations between Turkic states, Samir Hummatov, First Deputy Chairman the Small and Medium Business Development Agency (KOBIA) under Azerbaijan's Ministry of Economy, said at the Second Turkic States Trade and Investment Cooperation Forum and Exhibition held in Baku, Report informs.

According to Hummatov, 2024 statistics indicated that the trade turnover between Turkic states is $45 billion: "But we think that this indicator can be increased further."

He said that one of the main issues included in the mandate of the SME Association is the promotion of products produced by SMEs: "SMEs are also represented at the exhibition held today. The importance of the event is not limited to the exhibition. Bringing together Turkic states and presenting different products by different companies will play an important role in terms of expanding economic and trade relations between our countries."

Hummatov emphasized that not only products will be demonstrated here: "At the same time, conferences will be held, a forum will be organized, and various bilateral meetings will take place. There will also be a mutual exchange of ideas. We believe that as a result of these processes, cooperation between our countries will further develop."