Istanbul: Federal Minister for Commerce Jam Kamal Khan, representing the Organization of Islamic Cooperation (OIC) member states, has urged for enhanced economic collaboration and improved trade financing to boost intra-OIC trade. He made these remarks at the closing session of the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul.

According to Press Information Department, the Commerce Minister emphasized the need for stronger economic solidarity among Islamic countries amidst growing geopolitical tensions and supply chain disruptions. He expressed gratitude to Turkiye for hosting the event and acknowledged the efforts of the COMCEC Coordination Office and OIC institutions.

Khan highlighted the economic potential of OIC countries and stressed the importance of collective action to transform shared resources into prosperity. He outlined key areas for action, including trade financing, digital transformation, and support for micro, small, and medium-sized enterprises (MSMEs).

Addressing trade financing, Khan called for harmonized regulatory frameworks and diversified financial instruments to improve export competitiveness. He advocated for Shariah-compliant trade financing and digital integration to enhance trade efficiency.

The Minister also reaffirmed support for Palestine, condemning Israeli actions in Gaza and Jerusalem. He emphasized adherence to United Nations resolutions for a just resolution of the Palestine issue.

Concluding his address, Khan urged OIC member states to implement COMCEC decisions effectively, aiming for tangible economic benefits. He expressed hope for continued progress at the next COMCEC session.