President Recep Tayyip Erdoğan delivered a keynote speech at the Opening Event of the 40th Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), highlighting the significance of collaboration in strengthening economic and trade relations among OIC member states.
President Erdoğan described COMCEC as the most vital platform for cooperation within the Islamic world, emphasizing its positive impact over the years and proudly stating that, through this platform, economic and trade relations had advanced, leaving them in a much stronger position today than 40 years ago.
In his address, President Erdoğan drew attention to the growing importance of cooperation within the OIC amid the global economic slowdown in recent years. Citing data, the President noted that while the global economy grew by 3.3 percent in 2023, similar growth rates are expected for the current and upcoming year. The President added that overcoming the barriers hindering global trade requires strengthening partnerships, and stated, “Coordination among our member countries is critical for maintaining global economic stability and preventing financial crises. By establishing mutual support mechanisms, we can promote growth and collectively contribute to accelerating global recovery."
President Erdoğan highlighted Türkiye's Zero Waste Project and called for broader support for sustainability initiatives, while also stressing the importance of protecting youth from digital threats in today's rapidly evolving technological landscape and emphasizing the need to enhance their knowledge and skills to combat cyberattacks and data breaches.
Focusing on the role of digitalization in economic growth, President Erdoğan remarked, “Significant progress is being made in Islamic finance and digitalization. Supporting the digitalization of Islamic finance will make our financial systems more equitable, transparent, and accessible."
President Erdoğan praised the Trade Preferential System among OIC Member States (TPS-OIC), which came into effect in July 2022, as a “historic achievement for our organization," stressing the importance of expanding and deepening this system to benefit all member countries.
President Erdoğan also addressed small and medium-sized enterprises (SMEs), highlighting the COMCEC SME Program's potential to build business networks and expand trade volumes, while inviting countries not yet part of the program to join in recognition of the critical role SMEs play in driving economic growth.