EUR
enAn official opening ceremony dedicated to the launch of the Turkic Investment Fund was held in Turkey. The fund's capital is $500 million.
Vice President Cevdet Yilmaz stated that the investment fund (TIF) was created on the principle of equal contribution and voting: "We have set the initial capital of the fund at $500 million." TIF member countries: Turkey, Kazakhstan, Azerbaijan, Kyrgyzstan, Uzbekistan.
Speaking at the opening of the meeting of the TIF Board of Governors, which took place in the office of the President of Turkey in Dolmabahce, Yilmaz congratulated the representatives of the states who took part in the opening ceremony: "As a result of our joint efforts, our council has become a strong and respected organization that has strengthened its institutional structure, which is being monitored in the international arena and with which they want to cooperate other countries. Our goal is to strengthen the Turkic world in all areas and make it more resilient in the face of various challenges."
Stressing that the organization has a young and dynamic population exceeding 170 million people according to data for 2022, Yilmaz continued:
"Our trade volume is more than $1.2 trillion, and our national income is more than $1.5 trillion. We have a great cultural heritage, we have a solid foundation and all the resources to make great breakthroughs. If we look at 2022, we will see that our countries export products worth $558 billion. However, only 6% of these exports come from the organization's member countries. Of the 558 billion exports between the participating countries, only $33 billion was sold. This shows how much we have to do. To support our common development, we are working intensively together to eliminate non-customs barriers to trade, increase mutual investment, improve communication, facilitate transport activities and strengthen our region's key position in energy and transport corridors."
