A source at the OIC headquarters here informed Khaleej Times on Thursday that addressing the Twenty-Sixth Session of the Standing Committee for Economic and Commercial Cooperation of the OIC (COMCEC) in Istanbul, Ihsanoglu urged OIC member states to consider supporting the numerous capacity-building programmes undertaken by the various OIC institutions as this will certainly pave the way for aligning national trade policies to enhance intra-OIC cooperation in the domain of trade.
The secretary-general stressed that the increased activities of the relevant OIC trade organs, namely the Islamic Centre for the Development of Trade (ICDT) and the International Islamic Trade Financing Corporation (ITFC) have contributed to the progressive improvement of intra-OIC trade from $271.45 billion in 2004 to $551 billion in 2008 (i.e. from 14.5 per cent in 2004 to 16.6 per cent in 2009) and added that the OIC will actualise the objective of attaining the target of 20 per cent of intra-OIC trade in 2015.
He said that there is a need to increase competitiveness in OIC countries which is closely related to the new focus on fostering cooperation in the agricultural and food sector. He cited the example of OIC Cotton Action Plan which has succeeded in reviewing and approving sixteen projects that have been submitted for further action at the level of relevant funding institutions. He emphasised the need for OIC member states to venture into food security and agricultural development programmes since 41 out of the 57 Member States of OIC are considered as food deficit countries. He said that these countries receive food aid averaging about 11 per cent of the Official Development Assistance to developing countries, even as they continue to require an estimated annual amount of $24.5 billion to make up for their food deficits. The secretary-general also stressed on the need to involve the private sector, national specialised agencies, and other regional actors in the elaboration, execution and monitoring processes of the envisaged development projects.
The source said that the meeting discussed the implementation of the OIC Ten Year Programme of Action, which was approved at the 3rd extra-ordinary OIC summit held in Makkah in 2005, within the context of the on-going economic activities, programmes and projects for promoting rapid socio-economic development in the OIC countries.
Source : http://www.adsplan.net/oic-chief-calls-for-pan-islamic-economic-integration/ - Oct 15, 2010
