The State of Qatar participated in the 40th ministerial session of the Standing Committee for Economic and Commercial Co-operation of the Organisation of Islamic Co-operation (COMCEC), held in Istanbul through Tuesday.
HE the Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim al-Thani led Qatar's delegation at the session.
The opening session featured a keynote speech by President of the Republic of Turkiye and Chairman of COMCEC, Recep Tayyip Erdogan.
Speaking on behalf of the Arab Group, HE Sheikh Mohammed highlighted the importance of strengthening economic and commercial co-operation under COMCECs framework, particularly in light of global shifts that are prompting countries to seek closer co-ordination for expanding economic and commercial ties.
He emphasised that the meeting serves as an opportunity to adopt initiatives aimed at enhancing intra-trade among the OIC member states, and to address obstacles limiting trade and investment exchanges. These efforts are directed towards achieving the OIC Ten-Year Action Plan goal of raising intra-trade to 25% by 2025.
HE Sheikh Mohammed further noted that 27 OIC member states have already achieved the target of increasing intra-Islamic trade, expressing optimism for intensified efforts to enable remaining members to reach this target by next year, thereby strengthening the level of trade among Islamic countries.
He voiced confidence that the resolutions and recommendations issued during the session will bolster mechanisms to advance co-operation and foster intra-trade among OIC member states. He highlighted the additional potential for strengthening bilateral and multilateral economic and commercial co-operation.
In conclusion, HE Sheikh Mohammed indicated that this platform opens new avenues for stimulating joint investments and enhancing e-commerce capacities of member states through digital transformation technologies, ultimately contributing to the shared prosperity of the peoples of the OIC countries.
The session included a review of the report on the implementation of the COMCEC strategy and the Executive Program of the Organisation of Islamic Co-operation 2025. The OIC General Secretariat presented a progress report on the 2025 Work Programs milestones.
Key agenda items included discussions on global economic developments and their implications for OIC member states, as well as enhancing financial co-operation, improving transportation and communications, boosting the tourism sector, increasing agricultural production and maintaining food security, and advancing digital transformation. The meeting also explored views on "digital transformation of payment systems in OIC member states."
On the sidelines of the meeting, HE Sheikh Mohammed held bilateral discussions with the Minister of Commerce in the Kingdom of Saudi Arabia, Dr Majid bin Abdullah al-Qasabi, and the Minister of Investment and Foreign Trade in the Arab Republic of Egypt, Eng Hassan al-Khatib.
During these meetings, they reviewed the bilateral trade and investment relations between Qatar and each of Saudi Arabia and Egypt, exploring avenues to further develop and advance these ties.
HE the Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim al-Thani led Qatar's delegation at the session.
