Pakistan urges stronger Intra-OIC economic integration in COMCEC, session

ISTANBUL, NOV 4 (DNA):Pakistan urged stronger Intra-OIC economic integration, digital Cooperation at 41st Standing Committee for Economic and Commercial Cooperation (COMCEC) session.

Federal Minister for Commerce Jam Kamal Khan represented Pakistan at the 41st Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC), being held in Istanbul from November 1st to 4th 2025, said a release issued here on Tuesday.

In his opening remarks, Minister Jam Kamal Khan underscored the urgent need for enhanced economic cooperation, digital integration, and sustainable development among OIC member states, describing COMCEC as a vital platform to advance shared prosperity across the Muslim Ummah.

“It is an honor to address this distinguished gathering at a time when the world faces profound economic, political, and environmental challenges,” he stated. “For us in the Islamic world, economic cooperation is not merely about trade—it is about forging stronger bonds of partnership and mutual benefit.”

The minister emphasized that intra-OIC trade and investment must be significantly strengthened to overcome global challenges. Despite immense potential, intra-OIC trade remains below its capacity, largely due to regulatory barriers, limited connectivity, and infrastructural gaps.

He proposed reducing non-tariff barriers, streamlining customs procedures, and harmonizing trade regulations across member states to promote freer movement of goods and services. “Pakistan believes the OIC Trade Agreement should become a real tool for trade liberalization and cross-border facilitation,” he added.

Highlighting Pakistan’s commitment to regional collaboration, the minister called for greater private-sector engagement and public-private partnerships to unlock new avenues for investment and job creation.

Jam Kamal Khan also urged member countries to prioritize digital transformation, particularly in areas like e-commerce, fintech, and digital infrastructure, to expand opportunities for youth and entrepreneurs. “By promoting digital integration, we can enhance market access and create new prospects for innovation and growth,” he noted.

On sustainability, he reiterated Pakistan’s dedication to the UN Sustainable Development Goals (SDGs) and proposed the establishment of an OIC Green Finance Mechanism to fund climate-resilient and renewable-energy projects. “Our economic growth must go hand in hand with environmental stewardship to ensure prosperity for future generations,” he emphasized.

The minister further suggested the creation of an OIC Center of Excellence for knowledge sharing, capacity building, and innovation across sectors such as agriculture, manufacturing, and renewable energy.

During the same session, Pakistan also delivered a joint statement on behalf of the Asia Group, reaffirming collective commitment to strengthening economic cooperation and advancing digital transformation among OIC countries.

Representing the Asia Group, Minister Jam Kamal Khan extended deep appreciation to the Government of Türkiye and President Recep Tayyip Erdogan for hosting the session and for their continued leadership in promoting economic solidarity among Muslim nations.

He highlighted that while digital technologies are transforming trade, logistics, and financial systems in many Asian OIC countries, digital disparities persist in broadband coverage, data governance, and cross-border payment systems.

“The Muslim Ummah must act decisively to ensure that no member state is left behind in this digital transformation,” he stated, urging member states to strengthen secure, resilient, and inclusive digital infrastructure and promote Shariah-compliant financial solutions for small and medium enterprises.

The statement also called for greater data-driven cooperation among OIC institutions—such as SESRIC, IsDB, ICDT, and IOFS—to promote evidence-based policymaking, while encouraging youth participation and digital-skills development as key drivers of inclusive economic growth.

The Asia Group reaffirmed support for achieving the OIC’s target of 25 percent intra-OIC trade share by 2025 through the adoption of digital customs and single-window systems, and urged closer collaboration on developing regional digital payments and trade facilitation platforms.

Concluding the statement, the minister expressed confidence that the collective efforts of COMCEC member states would strengthen digital solidarity, deepen economic cooperation, and accelerate shared prosperity across the Muslim world.

“Together, as the Islamic Ummah, we can create an economy that is resilient, inclusive, and forward-looking—one that delivers prosperity and dignity for all,” Jam Kamal Khan affirmed.