JEDDAH: Economic restructuring and diversification were key words during a meeting held by a committee at the Organization of Islamic Cooperation (OIC) in Istanbul on Wednesday.
In a speech to the Standing Committee for Economic and Commercial Cooperation (COMCEC), OIC Secretary-General Yousef Al-Othaimeen called for reforms within member states suffering from recession and urged a more holistic development agenda.
The meeting was inaugurated by Turkish President Recep Tayyip Erdogan, who is chairman of COMCEC.
Al-Othaimeen emphasized prioritizing trade and investment projects, which he said may reduce growing unemployment and quell the effects that mass migration is having on national economies.
He praised OIC’s member states’ response to the economic and humanitarian problems faced by some member states, which were the result of increasing political and natural crises.
“Infrastructural and regional integration are key to OIC policymaking, which are in turn being given top priority by member states,” he said.
Development programs designed for Africa and Central Asia have yielded major projects in the trade, energy, agriculture and transport sectors, notably the Arab-Africa trade bridge, the Kazakhstan-Turkmenistan-Iran railway and the Dakar-Port Sudan railway, he added.
Dr. Bandar Hajjjar, president of the Islamic Development Bank, and Rifat Oglu, vice president of the Islamic Chamber of Commerce, Industry and Agriculture, also gave speeches during the meeting.
Prioritize trade, investment projects, OIC chief urges member states
Prioritize trade, investment projects, OIC chief urges member states
