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2022 Organization of Turkic States Summit

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By  Farida Musayeva

The meeting of the Council of Heads of State of the Organization of Turkic States Summit was held on November 11, 2022 in Samarkand amid increasingly frequent statements from the European Union and the United States America that the countries of Central Asia should get rid of the influence of the Russian Federation and the People’s Republic of China.

Prior to the summit, negotiations were held between the Ministers of Economy of the Member States, discussing the creation of the Turkic Investment Fund, the opening of joint trading houses and the formation of the special economic zone “TURANCEZ”. Meetings were also held between the Ministers of Foreign Affairs of the Member States

The summit was chaired ин the President of the Republic of Uzbekistan Shavkat Mirziyoyev. The summit was held under the slogan: “A new era of Turkic civilization: Towards Common Development and Prosperity.”

The Organization of Turkic States, formerly known as the Cooperation Council of Turkic Speaking States (Turkic Council), was established on October 3, 2009. The members of the Organization of Turkic States are Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan. Hungary and Turkmenistan have observer status.

The summit was also attended by the leaders of the International Organization of Turkic Culture (TÜRKSOY), the Parliamentary Assembly of Turkic Speaking Countries (TURKPA), the International Turkic Academy of the Turkic Culture and Heritage Foundation

The President of Uzbekistan Shavkat Mirziyoyev began a meeting of the Council of Heads of State. He welcomed the guests and delivered a speech. In his speech, he mentioned the issues concerned, spoke about the goals and prospects for expanding cooperation between the Turkic countries.

Highlights from speech of the President of Uzbekistan Shavkat Mirziyoyev

  • Strengthening the bases of trade and economic cooperation;
  • Proposed to hold annually the Turkic Economic Forum in the format of the state and business in order to ensure its single promotion of trade and investment;
  • Expansion of transit corridors and creation of transport infrastructure;
  • Ensuring access to the foreign market and the creation of an efficient food supply system;
  • Build partnerships with the Food and Agriculture Organization of the United Nations;
  • Regularly hold the Turkic Agro Forum and organize an international exhibition of agriculture;

Highlights from speech of the President of the Republic Turkey Recep Tayyip

  • Proposed the establishment of an Investment Fund;
  • Implementation of joint energy projects;
  • Turkey is ready for active cooperation with the Turkic states in all areas;
  • Expanding cooperation in the prevention and regulation of illegal migration;
  • Cancellation or reduction of customs payments on the route passing through the Middle Corridor, as well as simplification of transit cargo transportation;
  • Congratulated Azerbaijan on the occasion of the second anniversary of Victory in the Patriotic War.
  • Highlighted that Turkey supports Azerbaijan in its aspiration for a peaceful settlement of the Karabakh issue;

Highlights from speech of the President of the Republic Kazakhstan Kassym-Jomart Tokayev

  • “Green economy” development;
  • Development of the transport and logistics industry between countries;
  • Strengthening the scientific and educational connection of the Turkic countries;
  • Compliance with the Charter of the United Nations on the issue of territorial integrity;
  • Proposed to create a Center for Digitalization of the Organization of Turkic States on the basis of the International Technopark “Astana Hub”;
  • Proposed to create in 2023 a unified network of universities of the Turkic countries, which will allow students to study Turkic languages and get acquainted with the history and culture of the Turkic nations;

Highlights from speech of the President of the Republic of Azerbaijan Ilham Aliyev

  • Called on countries to intensify cooperation in the field of security, defense, defense industry;
  • Pay attention to the issue of human rights, security, preservation of national identity and assimilation of compatriots living outside the countries of the members of the Organization of Turkic States;
  • The President of Azerbaijan invited Heads of State of the Organization of Turkic States to visit the Karabakh and East Zangezur economic regions;

Chairman of the People’s Council of Turkmenistan Gurbanguly said that the Samarkand summit made a significant contribution to the development of relations between the Turkish states and stressed the importance of expanding cooperation.

Hungarian Prime Minister Viktor Orban noted the important role of Azerbaijan in ensuring the energy security of Europe.

The President of Kyrgyzstan Sadyr Japarov said that relations with Azerbaijan are reaching a new level.

Bagdad Amreev, Secretary General of the Organization of Turkic States, said that the organization has always supported the territorial integrity of Azerbaijan. And that cooperation and the political arena have developed significantly. The countries demonstrated unity in supporting Baku in the struggle for the liberation of their lands from occupation and the restoration of territorial integrity.

Summit outcomes

  • A strategic plan was adopted for the next 5 years;
  • The Organization of the Turkic States declared 2023 as Year of Rise of Turkic Civilization;
  • Member States signed a final declaration (the Samarkand Declaration) and a number of other documents, including protocols on amending the Nakhchivan Agreement on the establishment of the Cooperation Council of Turkic Speaking States;
  • Decision on the adoption of the rules of procedure for the establishment of the Turkic Investment Fund;
  • The Turkish Republic of Northern Cyprus (TRNC) has been granted observer status.
  • Representative of Kyrgyzstan Kubanychbek Omuraliev has been appointed Secretary General of the Organization of Turkic States, who replaced Bagdad Amreev in this position;
  • At the initiative of the President of Uzbekistan, the Ali-Shir Nava’I International Prize was established. The first winner of The Ali-Shir Nava’I International Prize was the famous Kyrgyz writer Chinghiz Aitmatov in recognition of his contributions to the unity and development of the Turkic world. His award was presented to the President of the Republic of Kyrgyzstan Sadyr Japarov;
  • President of Uzbekistan Shavkat Mirziyoyev awarded President of Turkey Recep Tayyip Erdogan and Chairman of the People’s Council of Turkmenistan Gurbanguly with the Supreme Order of Turkic World.

Farida Musayewa is a Graduate Student in the School of Politics and International Relations at East China Normal University, Shanghai, China.


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EVENTS & ANNOUNCEMENTS

What To Expect From the Kuala Lumpur Islamic Finance Forum 2024?

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The Kuala Lumpur Islamic Finance Forum (KLIFF) 2024 is poised to be a pivotal event in the Islamic finance industry, building on the momentum of its previous editions. The forum has consistently served as a crucial platform for discussions on the latest trends, challenges, and opportunities in Islamic finance, drawing attention to the innovative strides and potential growth areas within the sector.

Key Expectations from KLIFF 2024

  • Industry Leadership and Expert Insights: The forum is expected to host a distinguished lineup of speakers from various sectors of Islamic finance, including banking, fintech, asset management, and more. Previous editions have seen influential figures such as Dima Djani, CEO of Hijra Group, and Jamaludin Bujang, Managing Partner (Malaysia) at Gobi Partners, sharing their insights, which indicates the caliber of thought leadership that attendees can anticipate in 2024​.
  • Sustainable and Ethical Finance Focus: A significant emphasis on sustainable and ethical finance principles is likely, reflecting a global trend towards more responsible investment practices. This aligns with the broader objectives of Islamic finance to contribute positively to society and the environment. Discussions may revolve around leveraging Islamic finance and social finance for sustainable future, as seen in previous forums​
  • Global Islamic Fintech Outlook: The rapid growth and innovation in Islamic fintech will likely be a central theme, given its increasing prominence in offering Shariah-compliant financial solutions worldwide. The previous edition highlighted the sector’s expansion, including the adoption of blockchain and cryptocurrency, emphasizing the role of digital banking in enhancing financial inclusion and the importance of regulatory frameworks to support industry growth​
  • Networking and Collaboration Opportunities: KLIFF 2024 will provide invaluable networking opportunities, facilitating connections between industry stakeholders, including investors, policymakers, and professionals. This collaboration is essential for fostering innovation and exploring new ventures in the Islamic finance landscape.
  • Support from Industry Leaders: The forum’s impact is underscored by the support it receives from leading entities in the Islamic finance sector. For instance, Principal Asset Management’s partnership for the IFN Investor Asia Forum 2024, scheduled in Kuala Lumpur, indicates the level of industry backing and commitment to advancing Islamic finance​
  • Innovative Solutions and Best Practices: Attendees can expect to learn about the latest innovative solutions and best practices within Islamic finance, including advancements in Sukuk, Islamic banking, asset management, and more. The event will likely showcase cutting-edge research, case studies, and success stories from around the globe.

The Kuala Lumpur Islamic Finance Forum (KLIFF) 2024 is set to be a landmark event, highlighting the growing importance and dynamism of the Islamic finance industry. With a focus on sustainability, technological innovation, and global collaboration, KLIFF 2024 will offer attendees a comprehensive view of the sector’s current state and future directions. By gathering experts, thought leaders, and practitioners from around the world, the forum will continue to play a crucial role in shaping the Islamic finance landscape, promoting development, and addressing the evolving needs of the global economy.


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EVENTS & ANNOUNCEMENTS

OIC Secretary-General Calls on OIC Member States to Invest More in Critical Sectors of the Economy

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On the 4th of December 2023, the President of the Republic of Türkiye, His Excellency Recep Tayyip Erdogan, inaugurated the 39th Session of the OIC Standing Committee for Economic and Commercial Cooperation (COMCEC), in Istanbul. The ceremony was attended by the OIC Secretary-General and Member States’ concerned ministers.

In his Statement, President Erdogan highlighted the grave situation in Gaza and the rising trend of Islamophobia and emphasized the need for all OIC Member States to have a unified position to address current challenges facing the Muslim Ummah.

He also underscored the importance of implementing the Trade Preferential System among OIC Member States as well as supporting the OIC Arbitration Centre, developing small and medium enterprises (SMEs) and halal industries towards promoting sustainable socio-economic growth in OIC Member States.

Speaking at the Opening Ceremony of the 39th Session of COMCEC, H.E Mr. Hissein Brahim Taha, the Secretary-General of the Organization of Islamic Cooperation (OIC), acknowledged the continued support of President Recep Tayyip Erdogan, the Chairman of COMCEC, towards the realization of various economic programs and projects of the OIC.

Referring to the tragic massacres taking in Gaza and Palestine generally, the Secretary-General called upon the international community to intervene urgently to put an end to Israel’s criminal aggression and murder of Palestinians. While highlighting the activities of OIC and its institutions in the economic domain during the last one year, the Secretary-General emphasized the need to further enhance intra-OIC cooperation in the vital sectors of the economy.

Especially in the food and agriculture sector, to build more resilient food systems, share knowledge and best practices in order to help develop domestic production capacities in OIC Member States. Accordingly, he called for greater cooperation, harmonization, and synergizing of efforts toward addressing the developmental challenges of OIC Member States.

The Opening Ceremony was also addressed by Ministers in charge of trade from Qatar, Senegal, and Kazakstan in their capacities as representatives of Arab, African, and Asian groups

The 39th Session of COMCEC is being attended by Ministers in charge of trade and economy of the OIC Member States as well as OIC institutions and international organizations. The Session will review the status of implementation of various projects under the COMCEC in the areas of trade and investment, agriculture, tourism and financial development, Private Sector, and poverty alleviation among others. The theme of the 39th COMCEC Sessions is “Improving E-Commerce Capacities of the OIC Member Countries”.

COMCEC is an OIC Standing Committee for Economic and Commercial Cooperation, which meets annually to review OIC activities in the economic and trade development domains.


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14th World Islamic Economic Forum Discusses Key Global Economic Growth Themes

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The 14th World Islamic Economic Forum (WIEF), scheduled for 6-8 February 2024 at the Abu Dhabi National Exhibition Centre (ADNEC), promises to be a pivotal event in shaping the global economic landscape. Under the theme ‘Global Economic Agenda: Shaping a Sustainable Future,’ this forum will delve into a wide array of pressing economic issues, especially focusing on the integration of technology in shaping future economic trends.

A key highlight of the 14th WIEF is the exploration of East Asia’s burgeoning economic clout. As this region becomes increasingly influential in the global market, the forum will examine its impact on global economic dynamics. This is particularly relevant considering reports from institutions like the Asian Development Bank, which forecast East Asia’s continuous growth trajectory in the coming years.

The convergence of technology and sustainability will also be a central theme. With the world rapidly evolving, the forum aims to chart new paths for economic development, emphasizing sustainable practices. This aligns with global trends highlighted in reports by the United Nations and World Economic Forum, which stress the critical role of sustainable development in future economic growth.

The increasing economic prominence of the Middle East, especially in the context of global markets, is another focal point. Reports from the International Monetary Fund (IMF) and other economic research institutions underline the Middle East’s expanding role in shaping global economic policies and trends.

Tan Sri Dr. Syed Hamid Albar, Chairman of the WIEF Foundation, emphasizes the forum’s importance as a pivotal platform for global economic dialogue. The event will feature a plethora of plenary sessions, in-depth panel discussions, and networking opportunities, addressing topics like youth integration in the AI-driven labor market, the empowerment of women in technology, the synergy between Islamic finance and ESG (Environmental, Social, and Governance) investing, and innovative strategies for food security.

MOCAfest, an integral part of the Forum, will celebrate the vital role of creative industries in economic and social development. This festival will be a melting pot for artists from diverse cultures, showcasing their talents and fostering a vibrant cultural exchange.

About the World Islamic Economic Forum Foundation (WIEF): Established in 2006, the WIEF Foundation has been at the forefront of enhancing global economic cooperation. It focuses on trade opportunities, business networking, and capacity building programs, primarily through its annual forum. WIEF brings together influential figures from government, industry, academia, and other sectors to discuss contemporary issues and trends in the global economy. The 14th WIEF, with its emphasis on sustainable future shaping, reaffirms this commitment.


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