The Minister of Business & Trade participates in COMCEC Forum

January 09, 2011

HE Shk. Jassim Bin Abdulaziz Bin Jassim Al Thani, the Minister of Business & Trade, has headed Qatar delegation participating in the 26th ministerial meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Conference “COMCEC”. The meeting, which was held in Turkey, has been opened by HE President Abdulla Gul. President Gul has wished the COMCEC to achieve the predefined quota of 20% among Muslim world by 2015.
He stressed the important role played by the COMCEC different arms and vehicles in achieving all resolutions passed by Mecca Extraordinary Meeting with respect to the 10-year program.
Qatar was one of the 1st states to sign Trade preferential system among the Member States of the OIC (TPS-OIC) and all supplemental agreements of this system. Based on TPS-OIC, It is expected that trade exchange will achieve the best interests of the member states. The ministerial meeting has discussed a number of the agenda topics. These topics included economic, trade and investment issues. In addition it discussed topics related to the international organizations and co-ordination among the OIC and its affiliate organizations and bodies on one hand, and the international economic groups on the other.
As approved, the ministerial meeting agenda has included recent economic changes and their impact on Muslim states economics and on the inter-trade volume among the member states in the light of TPS-OIC system and technical support provided by WTO, as well as activities related to trade finance and co-operation between the private sector and food security in Muslim World.
The ministerial meeting agenda has also approved financial co-operation in issues related to exchanges, central banks and agricultural development, as well as Shariah-compliant criteria for foodstuff. Qatar has been nominated to represent the Arab bloc in COMCEC Co-ordination Office and it won the majority of votes. Syria and Iraq were also nominated to run for this election, but the Qatari Delegation went with the majority of votes to head the Arab Bloc in COMCEC for 2011-2013 in the follow-up committee which reviews and prepares the agenda for all ministerial meetings. It is worth mentioning that all issues and topics raised for discussion by the Arab Bloc are to be submitted through the follow-up committee that is headed by Qatar.