Turkic states to avoid FX shortage via trade in local currencies

ANKARA

Foreign exchange shortage will be avoided via expansion of trade in local currencies among Turkic Council members, the Turkish trade minister said on Wednesday.

"Member countries should prioritize agreements on bilateral and regional services, trade, investment and e-trade in the upcoming period," Ruhsar Pekcan told at a videoconference with top officials of the Turkic Council countries.

Pekcan urged the member countries to act jointly for the effective use of railways in foreign trade amid the coronavirus pandemic.

Turkic Council was established in 2009 as an international intergovernmental organization, with the aim of promoting comprehensive cooperation among Turkic speaking states.