OIC expects intra-trade to grow 25 percent by 2025

Intra-trade between member states of the Organisation of Islamic Cooperation, OIC, is set to grow by 25 percent by 2025 thanks to a string of measures aimed at consolidating joint cooperation in areas of trade, investment and tourism, according to a report presented by the OIC General Secretariat during the 33rd session of the OIC Standing Committee on Economic and Commercial Cooperation, COMCEC, which kicked off in Istanbul, Turkey, on Monday.

In presenting the report, Assistant Secretary General for Economic Affairs, Ambassador Hameed Opeloyeru, reviewed the latest steps taken in the COMCEC 32nd session to follow up the implementation of OIC-2025 Programme of Action.

The report focuses on the progress recorded in the economic domain and the accomplishments made by the OIC and its institutions active in the economic and commercial fields, namely agriculture, food security and rural development, employment and productivity, intra-trade and investment, tourism development, cooperation in the area of transport, poverty alleviation programmes, infrastructure development and regional integration policies in OIC countries.

The COMCEC ministerial meeting on 22nd November 2017 will focus on the development of trans-border transportation corridor projects in the OIC Member States, given that the sector is among the main priorities of the OIC’s economic cooperation agenda and considered as a major enabler for economic development and competitiveness.