Pakistan presses for deeper OIC economic integration

November 03, 2026 (MLN): Pakistan has called for deeper economic integration, improved access to trade financing and stronger private-sector cooperation among Islamic countries, saying greater trade integration could unlock substantial opportunities for shared prosperity across the Islamic world.

Federal Minister for Commerce Jam Kamal Khan made the call while addressing the 42nd Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC) in Istanbul.

The session was chaired by Türkiye’s Vice President Cevdet Yılmaz.

The minister reaffirmed Pakistan’s commitment to strengthening economic and commercial partnerships with OIC member states, according to a press release issued.

Referring to this year’s theme, Developing Effective Trade Financing Tools for Increasing Exports in the OIC Member Countries, he stressed the need to expand access to affordable and innovative financing, particularly for small and medium enterprises (SMEs), so they can enter international markets and become competitive exporters.

Jam Kamal Khan said Pakistan has taken concrete steps to modernize its trade ecosystem, reduce export-related risks and help businesses reach new markets.

He pointed to the operationalization of the Export-Import Bank of Pakistan (EXIM Bank), which offers trade credit insurance, guarantees and refinancing facilities to protect exporters and support their expansion, including into OIC countries.

He told the gathering that Pakistan is also widening Shariah-compliant financing instruments, including Murabaha, Salam and Ijarah, to give businesses alternative financial solutions in line with Islamic principles.

He added that export credit processes are being digitalized through integrated online portals linking commercial banks and development finance institutions, which would cut processing times and improve access to financing for micro, small and medium enterprises (MSMEs).

He also said Pakistan has substantially enhanced concessional financing facilities for exporters to improve competitiveness and boost participation in international trade.

The minister underscored Pakistan’s role as host of the headquarters of the Islamic Chamber of Commerce and Development (ICCD), which he described as an important platform linking the private sectors of 57 Islamic countries.

He reaffirmed Pakistan’s continued support for the ICCD as a bridge between businesses and policymakers to promote investment, commercial partnerships and private-sector engagement across OIC members.

Referring to emerging global economic challenges, he stressed the need for closer cooperation in digital integration, artificial intelligence and sustainable development.

He said rapid technological advances offer OIC countries new chances to modernize their economies, improve trade competitiveness and strengthen regional economic connectivity.

Jam Kamal Khan appreciated COMCEC’s role in promoting multilateral economic cooperation and developing practical solutions to the trade challenges Islamic countries share.

He thanked the Government of Türkiye for its hospitality and commended the COMCEC Secretariat for organizing the session.

Concluding his address, he urged OIC members to work collectively for greater economic integration, stronger trade partnerships and sustainable prosperity.

He expressed confidence that closer cooperation among Islamic nations would bring significant economic benefits and strengthen their collective position in the evolving global economic landscape.

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