The President of Islamic Development Bank (IDB), Dr Ahmad Mohamed Ali has made several proposals that will enhance partnerships between IDB, the Republic of Turkey and any member country that wishes to benefit from the successes of Turkey.
The proposals were in Istanbul, Turkey, at the opening ceremony of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of the Islamic Cooperation's (OIC's) 31st ministerial session.
Besides a tripartite agreement between IDB Group, Turkey and any IDB member country, Dr Ahmad suggested the establishment of a programme for the effective implementation and operationalisation of trade related agreements similar to the Trade Preferential System among the Member States of the OIC (TPS-OIC). Thirdly, he called for the enhancement of transcontinental regional corridors such as the Trans-Sahara Corridor (Trans-Africa Corridor). Fourthly, he suggested the need to study the effect of major regional blocs on intra-OIC trade and regional integration.
The Secretary General of the OIC Iyad Madani commended OIC member countries for an increase in intra-OIC trade. He said the volume of trade has increased from 18.64% in 2013 as a percentage of total global trade transactions to 19.33% in 2014.
The proposals were in Istanbul, Turkey, at the opening ceremony of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of the Islamic Cooperation's (OIC's) 31st ministerial session.
Besides a tripartite agreement between IDB Group, Turkey and any IDB member country, Dr Ahmad suggested the establishment of a programme for the effective implementation and operationalisation of trade related agreements similar to the Trade Preferential System among the Member States of the OIC (TPS-OIC). Thirdly, he called for the enhancement of transcontinental regional corridors such as the Trans-Sahara Corridor (Trans-Africa Corridor). Fourthly, he suggested the need to study the effect of major regional blocs on intra-OIC trade and regional integration.
The Secretary General of the OIC Iyad Madani commended OIC member countries for an increase in intra-OIC trade. He said the volume of trade has increased from 18.64% in 2013 as a percentage of total global trade transactions to 19.33% in 2014.
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