Economic cooperation among the Organization of Turkic-speaking States is gaining momentum. But despite this, some companies still face differences in legislation, taxation, consumer demand and business practices in different countries, which complicates the application of a universal approach. At the same time, improving transport links and growing trade ties are creating new opportunities for businesses willing to build long-term partnerships in the region.
The Middle Corridor, in particular, is strengthening connections between Azerbaijan, Central Asia and markets farther west, while initiatives aimed at industrial cooperation and common standards could further reduce barriers for companies. Azerbaijani companies seeking to enter the markets of the Organization of Turkic States (OTS) need to pay greater attention to market research and consider establishing joint ventures with local partners, according to Orkhan Yolchuyov, head of the CASPIA Analytical Center. Speaking to AzerNEWS, Yolchuyov told that businesses often make the mistake of approaching OTS markets with the same strategy, despite significant differences between individual countries.
"It is necessary to study market research more carefully because every OTS market is completely different. The rules, regulations and tax policies are different," Yolchuyov said. According to Yolchuyov, businesses could also benefit from creating joint service centers, developing joint products and establishing common supply chains.
"If these issues are taken into greater consideration, the OTS market has considerable potential," he emphasized. Yolchuyov noted that the markets of the OTS countries are rapidly developing and have significant demographic potential. He particularly highlighted Kazakhstan and Uzbekistan, describing the Uzbek market as the largest in Central Asia in terms of population, with around 40 million people.
The expert also emphasized the region’s logistics potential, particularly the role of the Middle Corridor. "The Middle Corridor is like a vascular system, a circulatory system that feeds all these countries, inspires them and gives them oxygen," Yolchuyov said, adding that new economic relations are emerging between the countries along the route. He believes that Azerbaijani businesses will find it increasingly easier to enter OTS markets as regional connectivity develops.
Yolchuyov also proposed the development of a common "Turkic standard" that could make it easier for businesses to enter the markets of OTS member states. "We need to create a kind of Turkic standard. There is a halal standard, right?
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