On October 18, 2023, held a scientific seminar at the Institute of Economics of the Ministry of Science and Education. The event, which was chaired by the director general of the institute, D.Sc. of Economics, professor Nazim Muzaffarli, was attended by the Institute of Economics, the Center for Analysis of Economic Reforms and Communication, representatives of state bodies, members of parliament, and employees of a number of higher education institutions of the country
Prof. N. Muzaffarli opened the event with welcome speech and spoke about October 18, Day of Restoration of Independence and evaluated the waving of the Azerbaijani flag in Khankendi as a historical event of exceptional importance. He specially noted that our state sovereignty was completely restored under the leadership of the Supreme Commander, the heroism of our army and soldiers in this field, our national unity, and the determination of our people to fight for independence.
The memory of our martyrs was commemorated with a minute of silence.
Then, the Executive Director of the Center for Analysis of Economic Reforms and Communication, D.Sc., Professor Vusal Gasimli made a speech on "Economy of the Turkic world: integration and development". He said that the relations between the Turkish states are developing on a rising line, and further strengthening of these relations is one of the priority directions of Azerbaijan. He emphasized that member and observer countries of the Organization of Turkic States (OTS) cover a larger geography than the territory of the European Union and said that if the OTS was a state, it would be among the top 10 in the world. Turkic states account for 2.2 percent of the world's population, 2.4 percent of total trade turnover, and 1.6 percent of global GDP. The current potential allows to increase these numbers in the future.
V. Gasimli also spoke about the logistic capabilities of the Turkish states and the factors affecting the multilateral trade cycle. He said that the Organization of Turkic States (OTS) located in the "Heartland" and means the main driver of the Middle Corridor connecting the East and West. He announced the results of the network analysis of foreign direct investment and trade relations between Turkish states. Based on the results of the "Gravity Model", he noted that although the large distance between the capitals in Turkish states has a negative effect on trade turnover, the presence of a common language, GDP, population and common borders has a positive effect on trade turnover.
The speaker noted the special role of the document "Turkic World Vision - 2040" in deepening the political and economic integration between the Turkic states and said that the document provided a road map for cooperation between the Turkic states in economic cooperation, transport, customs, energy, tourism, agriculture and other fields.
In the end, prof. V. Gasimli answered the questions, and held extensive and interesting discussions on the topic (economics.com.az).
