Tokayev: Share of OTS member countries in global GDP increased to 3.1%

The share of the Organization of Turkic States (OTS) in the world GDP has grown to 3.1%, President of Kazakhstan Kassym-Jomart Tokayev said,Anews informs.

The president of Kazakhstan spoke at the opening of the first meeting of the Council of Central Banks of the OTS member countries.

"The combined share of our countries in the world GDP has grown from 2.4% in 2010 to 3.1%. The constant growth of the international reserves of the OTS states indicates an increase in the macroeconomic stability of the region," Tokayev emphasized.

He noted that during the informal summit in Hungary last week, the heads of the OTS states confirmed the importance of deepening cooperation, especially in the context of the tariff war.

According to him, expanding cooperation in the financial sector can become a catalyst for a broader economic and investment partnership, with central banks playing a key role in this process.

Tokayev believes that professional dialogue between central banks will become the foundation for realizing the economic potential of the Turkic region.

"It is gratifying that the Council's agenda includes relevant and timely topics related to economic trends, monetary policy, as well as the development of financial technologies, including central bank digital currencies, cryptocurrencies and digital assets. Kazakhstan has made significant progress in this area: the share of non-cash payments in the structure of all transactions has reached 85%," Tokayev said.