(MENAFN- Gulf Times) HE the Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal al-Thani chaired the Qatari delegation at the 41st Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organisation of Islamic Cooperation (OIC), held in Istanbul under the chairmanship of Recep Tayyip Erdoğan, President of Türkiye.
In his opening remarks delivered on behalf of the Arab Group, Sheikh Faisal underscored the Group's strategic role within COMCEC, emphasising the importance of coordinating efforts to deepen economic and trade cooperation under the OIC framework, and strengthen bonds among member states in confronting regional and global economic challenges.
He highlighted that the meeting was convened amid multiple challenges facing the Islamic Ummah, stressing the need to unify efforts and enhance joint action to consolidate security and stability, foster an enabling environment for comprehensive and sustainable development, and promote prosperity throughout the blade-->

HE the Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal al-Thani chaired the Qatari delegation at the 41st Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organisation of Islamic Cooperation (OIC), held in Istanbul under the chairmanship of Recep Tayyip Erdoğan, President of Türkiye.

The minister further noted that global economic transformations call for stronger cooperation among OIC member states to advance joint Islamic action, boost intra-OIC trade and investment, and remove barriers to integration and growth.
Sheikh Faisal observed that, despite recent crises impacting the economies of the member states, it is forecast that the combined GDP of OIC countries would increase by nearly $2tn through 2026 to $31.6tn, representing a projected growth rate of 6.38%.
The Minister added that efforts by member states to diversify economies, increase domestic output, enhance regional cooperation, and implement the Trade Preferential System (TPS) have contributed to a 13.56% rise in intra-OIC trade, which grew from $883bn in 2023 to $1tn in 2024.
The share of intra-OIC trade in total foreign trade also increased from 19.16% in 2023 to 20.36% in 2024, marking a 6.26% rise.
He ommended the ongoing efforts by Türkiye to promote joint Islamic action and advance the implementation of the COMCEC Strategy and its Programme of Action (2016–2025).
The COMCEC meeting also reviewed the implementation report of the COMCEC Strategy and the OIC-2025 Programme of Action, as well as recent global economic developments and implications for member states.
The meetings discussed strengthening financial, transport, tourism, agricultural, and digital cooperation, and exchanged views on aligning export strategies among member states.
The session discussed mutual trade and ways to boost private sector involvement in economic cooperation, with the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) and the Islamic Centre for Development of Trade (ICDT) presenting updates on recent developments.
The COMCEC was established in 1981 and serves as the principal platform for multilateral economic and trade cooperation within the Islamic world.
On the sidelines of the meetings, Sheikh Faisal held separate meetings with Prof. Ömer Bolat, Minister of Trade of Türkiye; Hassan Elkhatib, Minister of Investment and Foreign Trade of Egypt; and Atheer Dawoud al-Ghurairi, Minister of Trade of Iraq.
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