Turkish President Recep Tayyip Erdogan said the dependence of members of the Cooperation Council of Turkic-Speaking States (CCTS) on the dollar hampers their economic development.

Talking at CCTS summit in the Kyrgyz town of Cholpon Ata, Erdogan urged the body- which is also known as the Turkic Council and includes Azerbaijan, Kazakhstan, Kyrgyzstan and Turkey- to use Turkish lira in trade transactions.

“I believe that intensifying trade [by clinching transactions] in [CCTS members’] national currencies is a necessary condition for their development,” Erdogan stressed, referring to the “tough times” these countries are currently going through.

In this vein, he lashed out at”some countries” which he said “ignore international dialogue and use threats and blackmail,” in an apparent nod to the US.

“International sanctions place dynamite under the agreements. The Turkic states should demonstrate solidarity so that the international system can operate fairly, on the basis of mutual respect,” Erdogan underscored.

Late last week, the Turkish President pointed out that currency manipulations sought to “cast doubt on Turkey’s strong and solid economy”, urging Ankara “to gradually end the monopoly of the dollar once and for all by using local and national currency among us.”

Source: Sputnik