OTS keen to promote green finance

The upcoming 11th Summit of the Organization of Turkic States (OTS), set to take place on November 6 in Bishkek, will focus on the organization's strategic priorities aimed at strengthening the Turkic world, said OTS Secretary General Kubanychbek Omuraliev, Report informs, via Anadolu Agency.

While commenting on the agenda of the Bishkek Summit, Omuraliev noted that the summit will revolve around four key areas: economic integration, sustainable development, digital transformation, and security.

According to him, member states are expected to sign the Digital Economic Partnership Agreement, which will facilitate digital trade and enable businesses to operate more efficiently within a common digital framework in the economic sphere.

The secretary general further stated that sustainable development is also high on the agenda, with the OTS aiming to promote green finance and ecological management through the establishment of the Turkic Green Finance Council and the adoption of the Turkic Green Vision. He added that these initiatives will encourage investment in eco-friendly projects, ranging from renewable energy to sustainable urban development.

“Digital transformation is another key focus, with planned projects such as the Great Turkic Language Model and the Earth Observation Technology Satellite set to enhance technological capabilities and benefit the entire region in areas such as environmental monitoring, digital connectivity, and innovation,” Omuraliev said.

Omuraliyev also pointed out that in the security domain, member states are expected to sign the Agreement on the Civil Defense Mechanism, aimed at strengthening cooperation and ensuring coordinated response measures to emergencies and disasters.

The secretary general explained that OTS countries are committed to developing cooperation in transport, infrastructure, and security. He stated that joint efforts to develop the Middle Corridor project would transform the Turkic region into a vital trade artery between Asia and Europe. He emphasized that new projects will be introduced at the upcoming summit.

"Work is also underway on an agreement for free trade in services and investments. There are plans to establish a Council of Central/National Banks of OTS member countries to coordinate monetary policies and enhance financial stability in the region. All these strategic projects aim to create a well-coordinated, competitive Turkic region, serving as an important link in global trade routes," he said.