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Trade turnover among OIC countries up

Business Materials 21 November 2018 14:10 (UTC +04:00)

Baku, Azerbaijan, Nov. 21

By Rufiz Hafizoglu – Trend:

The trade turnover among the countries of the Organization of Islamic Cooperation (OIC) increased by $44 billion and amounted to $322.2 billion in 2017 compared to 2016, OIC told Trend on Nov. 21.

The OIC countries’ total trade turnover with other countries amounted to $3.2 trillion in 2017.

“The main countries that have played an important role in increasing domestic trade turnover within the OIC are Turkey, Saudi Arabia, the United Arab Emirates, Indonesia, Iran, Malaysia, Pakistan, Egypt and Iraq,” the OIC said.

The OIC member-states have a great potential for increasing trade turnover.

“The customs privileges should be applied for the OIC member-states to increase trade turnover among the OIC countries,” the OIC said.

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Follow the author on Twitter: @rhafizoglu

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