Share of trade between OIC member states must increase to 70 per cent

Business Materials 12 October 2012 14:51 (UTC +04:00)

Turkey, Istanbul, Oct. 11 /Trend special corr. I.Khalilova/

The share of mutual trade turnover between the member countries of the Organisation of Islamic Cooperation (OIC) must be increased from 17 to 70 per cent, president of the Independent Industrialists and Businessmen's Association (MUSAID) Nail Olpak told Trend today.

"The potential of the trade turnover between the OIC countries is 70 per cent," he said. "The current level of trade turnover is much less."

He said that it is necessary to conduct business forums with the participation of the OIC member countries more frequently to reach the 70 per cent level.

He also stressed that Azerbaijan is the most important country for Turkey. A group of businessmen from Azerbaijan organised by MUSIAD, has been involved in the international business forum.

Olpak stressed the cooperation between MUSIAD and the Azerbaijani National Confederation of Entrepreneurs (Employers).
The 16th International Business Forum and Congress and the 14th International Exhibition have recently opened in Istanbul.

These events are being organised as part of the 28th meeting of the OIC permanent committee of economic and trade cooperation taking place on October 11-14.
Some 735 companies, including 565 from Turkey are represented at the exhibition.

Officials and businessmen from Islamic countries are participating in events organised by the Turkish Ministry of Economy and MUSAID

Egyptian Minister of Economy Osama Saleh, Malaysian Minister of Trade and Industry Dato Sri Mustapha Mohamed, the director of the Islamic Development Bank Mohammed Ali and Moroccan Prime Minister Abdullah Benkirane are taking part in the forum.