Executive Head of the OTS Representation Office in Budapest visited TIF

On 27 March 2025, H.E. Balázs Hendrich, Executive Head of the Representation Office of the Organization of Turkic States (OTS) in Budapest, accompanied by OTS Liaison Diplomat H.E. Péter Szántó, visited the headquarters of the Turkic Investment Fund (TIF) in Istanbul. The delegation was warmly received by H.E. Baghdad Amreyev, President of TIF.

President of TIF Baghdad Amreyev briefed the delegation on key milestones in the Turkic cooperation process, the structure of Turkic Cooperation Organizations, and TIF’s role as a joint financial institution for promoting economic cooperation and integration. He highlighted ongoing preparations to launch TIF’s financial activities, including policy development. He emphasized the importance of the OTS Budapest Office in integrating Hungary into Turkic cooperation and building ties with European institutions, expressing TIF’s readiness for close collaboration.

H.E. Balázs Hendrich confirmed the Budapest Office’s commitment to cooperation with TIF, including assigning dedicated personnel to deal with TIF in coordination with Hungary’s Ministry for National Economy. He encouraged TIF to focus on regional priority sectors, advocated for venture capital financing to support high-potential startups and SMEs, and cited the NATO Innovation Fund as a model. He also suggested engagement with other supranational funds and adapting EU practices for TIF, such as appointing a special envoy for SMEs.

Parties expressed mutual commitment to advancing economic cooperation, with agreement on maintaining close coordination and identifying joint opportunities.