ISTANBUL: The Kingdom of Saudi Arabia’s delegation, headed by Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade Majid Al-Kassabi, concluded its participation in the 40th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC). The session was held from November 4-5, 2024, in Istanbul, Turkey.
According to Saudi Press Agency, this year’s session concentrated on evaluating the outcomes of COMCEC working groups to enhance intra-OIC trade, advance financial and transport cooperation, and promote sustainable tourism. Discussions also included productivity improvements in agriculture, poverty alleviation, digital transformation, private sector development, and updates on the OIC Trade Preferences System (TPS-OIC).
Al-Kassabi highlighted the importance of increasing joint efforts to expand cooperation and foster economic integration among OIC members. Saudi Arabia’s participa
tion is aligned with its commitment to boosting intra-trade and enhancing the OIC’s trade preference system, a key initiative of COMCEC to facilitate trade opportunities and establish comprehensive partnerships among member countries.
On the meeting’s sidelines, Al-Kassabi, accompanied by Saudi Ambassador to Turkey Fahad Abualnasr and Acting Governor of the General Authority of Foreign Trade Mohammad Abdul Jabbar, engaged in discussions with several key officials. These included Turkish Trade Minister Dr. Omer Bolat, Qatari Trade Minister Sheikh Mohammed bin Hamad Al Thani, Egyptian Investment and Foreign Trade Minister Hassan El Khatib, and Iraqi Trade Minister Athir Al-Ghariri.
Additionally, Al-Kassabi attended the Saudi-Turkish Business Council Forum, which gathered over 277 companies from both nations. The forum serves as a significant platform for strengthening trade relations, exploring investment opportunities, and forging strategic partnerships across key sectors.
