Annex 6 to OIC/COMCEC/36-20/REP
94
The more we have strong economic ties and enhanced trade with each other, the stronger
we can resist to external shocks and challenges.
I sincerely believe that the Trade Preferential System Among OIC Member Countries
(TPS-OIC) is one of the most important instruments for increasing intra-OIC trade.
As we all know, TPS-OIC is currently at its implementation stage as 13 members have
assumed their commitments regarding ratification of the Agreements and updated their
concession lists.
In order to make progress in this field and to discuss the issues regarding the
implementation of the TPS-OIC, we held a Virtual Consultative Meeting on 27 October
2020 organized by COMCEC Coordination Office and ICDT.
We hope that the Trade Negotiating Committee can also convene at the soonest in order
to launch the implementation of TPS-OIC by 1 July 2021.
I believe that once TPS-OIC is implemented and operational, other brotherly countries
of the OIC will also begin joining the system.
Dear Participants,
Another important project of COMCEC is the OIC Arbitration Center which is expected
to provide trustworthy, quick and efficient settlement of trade and investment disputes.
Arbitration as the main dispute settlement procedure in international trade is one of the
main pillars on which international trade is based on.
The Center will also contribute to the enhancement of the cross-border business
relations between the member countries.
After a three-years period, which is relatively a short span of time, we have completed
the legal basis of this important Center.
The Host Country Agreement signed during the 35th COMCEC Ministerial Meeting
was ratified by the Turkish Grand National Assembly on January 18th, 2020.
Now, only some administrative preparations remain for the operationalization of this
Center.
Dear Sisters and Brothers,
The OIC Gold Exchange project is one of the OIC related significant project which we
would like to achieve soon.