Qatar Participates in the 28th session of OIC Standing Committee for Economic and Commercial Cooperation

Doha, October 10 (QNA) – The State of Qatar is Taking Part in the twenty-eighth meeting of the Standing Committee of the Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) currently under way  in Istanbul.
Qatar’s delegation is headed by HE  the  Minister of Business and Trade Sheikh Jassim bin Abdulaziz Al-Thani.
A statement issued by the Ministry of Business and Trade today said that the meeting discussed a number of issues including the implementation of the ten-year programme of action of the  Organization of Islamic Cooperation(OIC) and the plan of action plan for strengthening economic and trade cooperation among OIC member states and also reviewed the most important global economic developments, intra-trade among OIC member countries and  priority sectors such as agriculture, tourism, transport and financial cooperation.
The statement added that the meeting also saw  discussion of other topics related to poverty alleviation and the  strengthening of the private sector’s role in economic and trade cooperation, in addition to an exchange of  views on enhancing the competitiveness of small and medium-sized enterprises in OIC member states.
The Qatari company for the development of small and medium scale industries presented Qatar’s experience in this area.
HE Sheikh Jassim bin Abdul Aziz Al Thani meanwhile pointed out that Qatar attaches great importance to the strengthening of economic and trade cooperation between OIC member states, noting that it contributed to the ten-year plan of action through  participation in the implementation of the programmes and plans set by the organization.
He explained that  Qatar has ratified in this regard  the framework agreement of the Trade Preference System (TPS) of  the Protocol on Preferential Tariff Scheme (PRETAS) and OIC Rules of Origin, and  also increased its subscription in the capital of the Islamic Development Bank (IDB).

HE the Minister of Business and Trade urged member states to take necessary measures towards the implementation and activation of  the Trade Preferential System which would pave the way for achieving the goal of increasing trade between OIC countries, and to take the necessary measures to improve the investment climate and to activate the relevant agreements.
He noted that Qatar has been keen on the implementation of the economic openness policy that rely on the open market economy system which is known for free trade and movement of capital, goods and services and promotion of investments, stressing the readiness of Qatar to develop long-term economic and trade relations  in multiple directions incorporating all key components  for attracting foreign investments.
On the sidelines of the meeting, HE the Minister of Business and Trade met with a number of trade and economy  ministers participating in the meeting to  discuss the deepening and expansion of prospects of  cooperation between the State of Qatar and the Islamic countries.
The Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation is one of the four standing committees set up by the Organization to develop issues of critical importance to the organization and its member countries.
COMCEC holds its annual ministerial-level meetings in Istanbul since 1984. During these annual sessions delegations of OIC member countries and institutions discuss a number of items on its agenda  related to various topics connected to  improving  economic and trade cooperation between member countries that cover improving bilateral trade and investment cooperation between key economic and political institutions.(QNA)

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