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The Organization of Turkic States (OTS) is set to convene for an informal summit in Budapest, Hungary, on May 20–21, 2025. The gathering marks the first time the summit is hosted by an observer country, under the theme "The Meeting Point of East and West."
Heads of state from member countries are expected to participate, discussing a wide range of topics from politics and trade to education and regional cooperation.
The summit will culminate in the adoption of the Budapest Declaration, a joint statement expected to outline shared commitments among member states, including plans to deepen economic integration, enhance connectivity in trade and transport, and strengthen cooperation on regional and global issues.
Türkiye’s Trade Minister Omer Bolat said the summit should advance cooperation in trade, transport, industry, and education.
He noted that Türkiye continues to push for policies that ease trade flows, including improving logistics infrastructure and lifting non-tariff barriers.
Trade volume among OTS members reached $68.8 billion last year, with Türkiye accounting for $30.9 billion. Machinery, electrical equipment, precious stones, and steel products led Turkish exports to the region.
Bolat said Türkiye and OTS members have built momentum toward closer economic ties, reinforcing expectations for long-term cooperation. The combined economic size of the bloc is forecast to hit $1.8 trillion in 2024, while external trade is approaching $1.1 trillion.
Türkiye has backed 171 international fairs from 2023 to 2025 to boost trade with OTS countries, alongside 44 national exhibitions and 47 trade delegations, according to Bolat.
He also underlined the importance of transport services, noting that 2.6 million tourists from these countries visited Türkiye in 2024.
Bolat highlighted the Digital Economy Partnership Agreement (DEPA), signed in Bishkek in 2024, which is now under ratification.
The deal aims to simplify digital trade through standards for paperless transactions, e-signatures, billing, payments, and logistics, helping make regional commerce faster and more predictable.
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