Pakistan has called for deeper trade integration among the 57 member states of the Organisation of Islamic Cooperation (OIC), urging better access to export financing and stronger digital cooperation so smaller businesses can compete in international markets. Commerce Minister Jam Kamal Khan made the appeal at the 42nd session of the OIC’s Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul, chaired by Turkish Vice President Cevdet Yilmaz.
This year’s session focused on developing effective trade financing tools to raise exports among member countries. Khan highlighted the operationalisation of the Export-Import Bank of Pakistan, which offers trade credit insurance, guarantees and refinancing to help exporters manage risk and expand abroad.
He said Pakistan is also expanding Shariah-compliant financing instruments, including Murabaha, Salam and Ijarah, and digitising export credit processes through online portals linking banks and development finance institutions. Pakistan also hosts the headquarters of the Islamic Chamber of Commerce and Development, a platform connecting the private sectors of 57 Islamic countries.
Sources: Arab News Pakistan, UrduPoint (APP). Written in our own words for information only.