Azerbaijani Parliament ratifies agreement on establishment of Turkic Investment Fund

Milli Majlis (Parliament) of Azerbaijan is scheduled to ratify the agreement "On the establishment of the Turkic Investment Fund", reports.

This issue is included into the agenda of the plenary session of the Milli Majlis, which will be held on May 30.

According to the document, the purpose of the fund is to promote the economic development of the member states of the Organization of Turkic States (OTS) by expanding intra-regional trade and supporting economic activities.

The authorized capital of the fund is $500 million, which is divided into 10,000 shares with a par value of $50,000 each.

The founders of the Turkic Investment Fund and member states of the OTS are Azerbaijan, Türkiye, Kazakhstan, Uzbekistan and Kyrgyzstan.

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