OIC/COMCEC/36-20/REP
20
commercial section of the OIC 2025: Programme of Action by the COMCEC, requests
the OIC General Secretariat to regularly submit comprehensive progress reports on the
implementation of the Programme to the COMCEC Sessions and the Follow-up
Meetings.
24- Commends the efforts of the OIC General Secretariat for organizing the Fifth
Annual Coordination Meeting of OIC Institutions (ACMOI) in Jeddah, OIC
Headquarters on 4-5 December 2019.
25- Recalling the relevant resolutions of the COMCEC Sessions, requests the
Member States, who have not done so yet, to sign and ratify the agreements in the
economic domain for furthering economic and commercial cooperation among the OIC
Member States.
World Economic Developments with Special Reference to the OIC Member States
(Agenda Item: 4)
26- Takes note of the findings highlighted in the SESRIC’s report titled “OIC
Economic Outlook 2020: Trade and Integration Challenges amid Rising Uncertainties”,
and acknowledges the valuable contribution of its special section in identifying policies
pertinent to economic integration challenges under current global economic settings.
Considering the rising economic uncertainties as a result of the combination of trade-
policy shocks and the COVID-19 pandemic, the following recommendations are made
for OIC countries to promote regional economic integration:
- Invites the Member States to focus on creating intra-regional value chains
and establishing regional clusters to gain competitive advantage at global markets
and spur regional economic development.
- Encourages the Member States to increase regional economic partnership
to reduce dependency on a single foreign supplier in strategic commodities and
achieve self-reliance in the production of such commodities.
- Calls upon the Member States to minimize economic policy uncertainty,
reduce trade costs, improve technological capacities and increase their
preparedness to meet supply chain risks in order to tap on the potential
opportunities in the wake of the potential transformation of international
production.
- Entrusts the SESRIC to continue monitoring world economic
developments and their implications on the Member States and also entrusts
SESRIC to continue to report thereon to the annual sessions of the COMCEC.
ii) Intra-OIC Trade (Agenda Item: 5)
27- Taking note with appreciation of the convening of the 15th Meeting of the
COMCEC Trade Working Group on 22 September, 2020 in a virtual-only format with