Iranian minister: OIC members’ trade volume not satisfactory
Azerbaijan, Baku, Sep.24/ Trend, R. Zamanov
The trade volume between The Organisation of Islamic Cooperation's member states is not satisfactory, Iran's industry, mine, and trade minister said on Tuesday.
"The trade volume between Islamic countries accounted just for 18.2 per cent of their total trade in 2012," the Fars News Agency quoted Mohammad-Reza Nematzadeh as saying.
He went on to note that Iran exported $19 million worth of non-oil goods to Islamic countries, while importing over $16 billion worth of goods from the mentioned states.
"The total trade of Iran with other Islamic countries accounted for 42 per cent of the country's overall trade," Nematzadeh said.
Tehran will host the 14th Trade Fair of the OIC Member States. The event will kick off on October 28th.
The Organisation of Islamic Cooperation is an international organisation consisting of 57 member states. The organisation states that it is "the collective voice of the Muslim world" and works to "safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony".
The OIC has a permanent delegation to the United Nations, and is the largest international organisation outside the United Nations. The official languages of the OIC are Arabic, English and French.