Qatar Attends 40Th COMCEC Ministerial Session In Istanbul
Date
11/5/2024 4:39:32 AM
(MENAFN- The Peninsula)
QNA
Istanbul: The State of Qatar participated in the 40th ministerial session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), held in Istanbul yesterday.
Minister of Commerce and industry H E 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, H E Recep Tayyip Erdogan.
Speaking on behalf of the Arab Group, Sheikh Mohammed bin Hamad bin Qassim Al Thani highlighted the importance of strengthening economic and commercial cooperation under COMCECs framework, particularly in light of global shifts that are prompting countries to seek closer coordination for expanding economic and commercial ties.
The Minister emphasized 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 percent by 2025.
The Minister 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.
Sheikh Mohammed bin Hamad bin Qassim Al Thani voiced confidence that the resolutions and recommendations issued during this session will bolster mechanisms to advance cooperation and foster intra-trade among OIC member states.
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