Saudi Arabia Concludes Participation in 42nd COMCEC Ministerial Session in Türkiye

 The Kingdom of Saudi Arabia's delegation concluded its participation in the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC) on Tuesday. The delegation was headed by Deputy Governor of the Saudi General Authority of Foreign Trade (GAFT) for International Organizations and Agreements Fareed bin Saeed Al-Asaly.

 The meetings were held in Istanbul, Türkiye, from October 31 to November 3, 2026.

 The ministerial meeting discussed this year's theme, "Developing Effective Trade Financing Tools for Increasing Export in the OIC Member Countries," as well as global economic developments and their impact on OIC member states.

 The agenda also covered the OIC Trade Preferential System (TPS-OIC) and reviewed the efforts, achievements, and projects of OIC institutions and the Islamic Development Bank (IsDB) Group that contribute to strengthening joint economic and trade cooperation.

 The session reviewed the key outcomes of the COMCEC Working Groups, covering trade among OIC member countries, the role of the private sector in economic cooperation, and financial cooperation. Other areas included transport and communications, sustainable and competitive tourism, agricultural productivity and food security, poverty alleviation, and cooperation in digital transformation.

 The session also provided an opportunity to exchange views on developing effective trade financing tools to increase exports in OIC member countries.