Istanbul, Turkey – As expectations of a global recession are rising worldwide, advancing trade and economic cooperation between the Islamic countries “will contribute to the efforts to turn this crisis into an opportunity,” Turkish President Recep Tayyip Erdoğan has said.
Erdoğan was speaking at the 38th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) in Istanbul.
“Expectations of a (global) recession are rising worldwide, indicating that the light at the end of the tunnel is yet to appear,” he said.
“Advancing our trade and economic cooperation as the Islamic countries will contribute to the efforts to turn this crisis into an opportunity,” he added.
The agenda of the ministerial COMCEC committee meeting includes improving transport and communications, developing sustainable and competitive tourism sectors, increasing agricultural productivity to ensure food security, and cooperation on digital transformation, according to media reports.
Turning to Turkey’s efforts to alleviate the global food crisis, Erdogan said “we believe that the extension of the Black Sea grain corridor agreement will alleviate the suffering … especially that of our African brothers”.
More than 11 million tons of grain and foodstuff were delivered to the international markets following the landmark deal signed in late July by Turkey, Russia, Ukraine, and the UN. On November 19, the agreement was renewed for 120 days.
Global developments
The attendees discussed the implementation of COMCEC’s strategy, along with OIC’s executive action program for the period 2016-2025, in addition to discussing the global economic developments with a particular reference to their impact on OIC’s member states.
The Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) submitted its annual report on the global economic developments, and accordingly the member states shared their expertise and discussed their experiences pertaining to the recent economic developments.
The meeting also discussed a myriad of topics relevant to Intra-trade among OIC’s member states, while the heads of the participating delegations tackled numerous topics of common interest, including the ways to optimize the role of the private sector in economic cooperation among the member states, and subsequently the Islamic Chamber of Commerce, Industry and Agriculture submitted its report on the recent developments with respect to the private sector’s meetings.
In addition, the General -Secretariat of OIC submitted its report on the progress and the recent developments with respect to the implementation of the OIC 2025 Program of Action.
COMCEC that was established in 1981, is considered key platform for the multi-lateral economic and commercial cooperation in the Islamic world. (QNA)
Relations reviewed
Qatar’s Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani met separately with Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi and Turkish Trade Minister Dr. Mehmet Mus on the sidelines of the COMCEC.
They discussed the bilateral relations between the State of Qatar, Saudi Arabia and Turkey in the trade and investment areas, including ways to promote and develop them. They also tackled the topics incorporated into COMCEC’s agenda.