Qatar Seeks To Strengthen Trade Ties Among OIC Members

Qatar participated in the 42nd Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), held in Istanbul, Türkiye, from October 31 to November 3 under the chairmanship of Cevdet Yılmaz, Vice President of Türkiye, on behalf of the President. The session brought together ministers, senior officials, and representatives of member states and institutions affiliated with the Organization of Islamic Cooperation (OIC).

Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal Al Thani headed the Qatar’s delegation participating in the ministerial meetings, which discussed ways to strengthen economic and trade cooperation among OIC member states, develop mechanisms for joint action, and expand intra-OIC trade and investment, with the aim of addressing economic challenges and promoting opportunities for growth and sustainable development.

Qatar’s participation comes as part of its efforts to strengthen joint economic cooperation among OIC member states, promote trade and investment integration, and develop economic partnerships, contributing to opening new opportunities for the private sector, facilitating trade flows, and enhancing the competitiveness of member states’ economies.

The ministerial discussions focused on the theme “Developing Effective Trade Financing Tools for Increasing Export in the OIC Member Countries”, including improving access to trade finance, developing export guarantee instruments, and strengthening the ability of businesses, particularly small and medium-sized enterprises (SMEs), to access international markets.

The session was held amid expectations of continued economic growth across OIC member states.

According to the OIC Economic Outlook 2026 report, issued by the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), the combined gross domestic product (GDP) of OIC member states is projected to increase from approximately USD 10.79 trillion in 2026 to USD 11.27 trillionin 2027.

The meetings also reviewed efforts to implement the COMCEC Strategy, strengthen economic and trade cooperation, and operationalize the Trade Preferential System among the Member States of the OIC (TPS-OIC), alongside a number of initiatives aimed at supporting the private sector and developing economic and trade relations among OIC member states.

On the sidelines of the session, Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal Al Thani, met with Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of United Arab Emirates.

During the meeting, the two sides reviewed cooperation between their countries in the economic, trade, and investment fields, explored ways to strengthen and develop these relations, and discussed a number of topics of mutual interest.