Turkic States Launched the Turkic Investment Promotion Network at TIIF 2025

On 12 June 2025, the Meeting of the Heads of Investment Promotion Agencies of the Member States of the Organization of Turkic States was held in Tashkent as part of the Fourth Tashkent International Investment Forum (TIIF 2025).

The event was organized by the Investment Promotion Agency under the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan in cooperation with the Turkic Investment Fund (TIF) and aimed at strengthening cooperation among national investment promotion agencies and establishing a shared platform for joint action.

Among the participants of the meeting were Mr. Baghdad Amreyev, President of TIF, Mr. Shokhrukh Gulamov, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan, Mr. Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan, Mr. Yerzhan Yelekeyev, Chairman of the Management Board of the National Company Kazakh Invest JSC of the Republic of Kazakhstan, Mr. Farkhad Iminov, Director of the National Investment Agency under the President of the Kyrgyz Republic, Mr. Mahmut Muhiddin Keskin, Vice President and Head of Strategy, Investment and Finance Office under the President of the Republic of Türkiye, Mr. Mansurjon Rasulov, Acting Director of the Investment Promotion Agency under the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, Mr. Ramil Babayev, General Director of TIF, and Mr. Farid Mammadov, Representative of Organization of Turkic States.

The President of TIF, Mr. Baghdad Amreyev, moderated the opening session of the meeting and reflected on the role of IPAs in connecting global capital with local opportunities. He said IPAs help investors understand where to go and how to engage with a country’s economy.

TIF President stressed the importance of launching a new platform—the Turkic Investment Promotion Network, also known as TurkIPAnet, in whose establishment the TIF played a significant role and signed the relevant document for it. “This network is designed to help IPAs from Turkic countries work together more closely, promote cross-border projects, share information, and develop joint campaigns,” Mr. Amreyev said.

Deputy Minister of Investment, Industry and Trade of Uzbekistan, Mr. Shokhrukh Gulamov, said Uzbekistan is seeing strong results from its reform agenda. In 2024 alone, the country attracted $35 billion in foreign direct investment. He added that Uzbekistan’s GDP continues to grow at more than 6 percent annually and is expected to reach $200 billion by 2030.

Mr. Farid Mammadov, who delivered the speech on behalf of Ambassador Kubanychbek Omuraliev, Secretary General of the Organization of Turkic States (OTS), highlighted the Turkic states’ strong economic potential and noted that key Turkic cooperation institutions—such as the Turkic Investment Fund, the Union of Turkic Chambers of Commerce and Industry, and OTS mechanisms such as the Trade Facilitation Committee, the Turkic Green Finance Council, and the Council of Central Banks—are helping drive economic integration of Turkic states.

The event program featured a panel session with the Turkic states’ Heads of Investment Promotion Agencies, moderated by Mr. Ramil Babayev, General Director of the Turkic Investment Fund.

Referring to the combined GDP of the Turkic states, estimated at around $1.8 trillion with a population of 170 million, Mr. Ramil Babayev emphasized the need for stronger trade and investment among Turkic states. He underlined the importance of focusing more on sectors such as innovation, high-value manufacturing, and support for SMEs.

Mr. Mansurjon Rasulov, Acting Director of the Investment Promotion Agency under the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, presented the local investment environment. Other IPA Heads emphasized the importance of advancing digital transformation across the Turkic states. They noted that better digital tools, including digital investment platforms, can improve investor services and help attract new investment. The IPA Heads also explored ways to strengthen coordination in promoting foreign and regional investment, highlighting that closer cooperation is essential to building a more integrated and effective investment space across the Turkic world.

As part of the program, Mr. Erhan Türbedar, Senior Advisor for Economic Affairs to the President of the Turkic Investment Fund, briefed the audience on the main findings of the survey with Turkic IPAs conducted in 2023 and presented the structure of the Memorandum of Understanding that formally established TurkIPAnet.

At the end of the session, the Heads of Investment Promotion Agencies of the Turkic States signed the Memorandum of Understanding on Cooperation among the Investment Promotion Agencies of the Members of the Organization of Turkic States in the presence of the Minister of Investment, Industry and Trade of Uzbekistan, H.E. Laziz Kudratov, and the President of the Turkic Investment Fund, H.E. Baghdad Amreyev.

With this step, the Turkic states officially launched the Turkic Investment Promotion Network (TurkIPAnet). The network aims to strengthen investment connections among Turkic states, enhance their competitiveness in attracting foreign direct investment, and enable IPAs of Turkic states to share knowledge, coordinate activities, and implement joint initiatives.