Türkiye Proposes Joint Development Bank for Turkic States

During the 2nd Conference of the Leading National Analytical Centers of the Organization of Turkic States in Baku, Kürşad Zorlu, Deputy Chairman of the Justice and Development Party, proposed the creation of a joint development bank for Turkic states. Zorlu announced that Türkiye has completed a study for the bank, which will be submitted to the Secretariat General of the Organization of Turkic States to provide credit and support for businesses developing the Middle Corridor.

Zorlu argued that the Middle Corridor serves as a broad economic platform and a safe transport link between East and West, necessary to mitigate rising geopolitical risks. He noted that while intra-trade among Turkic World countries has grown from 3% to over 7%, it must exceed 10% in the short term to fully leverage the region's economic potential.

The conference, which included participants from Azerbaijan, Türkiye, Kazakhstan, Uzbekistan, Kyrgyzstan, Hungary, and the Turkish Republic of Northern Cyprus, also addressed cultural integration. Zorlu highlighted progress toward a common 34-letter alphabet, noting that Uzbekistan has already begun harmonization efforts.