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    • ECO Secretariat Participated in the 37TH Ministerial Meeting of the COMCEC in Istanbul
      ECO Secretariat Participated in the 37TH Ministerial Meeting of the COMCEC in Istanbul
      ECO Deputy Secretary General Ambassador Dr. Huseyin Avni Bicakli participated on behalf of the Economic Cooperation Organization (ECO), Observer at the OIC since 1995, in the 37th Ministerial Meeting of the COMCEC held in November 24-25, 2021 at Istanbul Congress Center. In the sidelines of the meeting Dr. Bicakli met and congratulated the new OIC Secretary General H.E. Mr. Hussein Brahim Taha, who was assumed his duties as of 17 November 2021 and exchanged views on what could be done to further expand the relationship and cooperation between ECO and OIC. Dr. Bicakli also made several fruitful consultations and exchange of views with some ministers and senior officials of OIC & ECO member states.
      Having commenced with the video message of the President of Republic of Turkey H.E. Mr. Recep Tayyip Erdogan, the Opening Session of the meeting was chaired by the Vice President of the Republic of Turkey H.E. Mr. Fuat Oktay, on behalf of the Honorable President.
      At the Opening Session, the Trade Preferential System among the member states of the Organization of the Islamic Cooperation (TPS-OIC) was introduced, and the OIC/COMCEC 50 Shariah Index and the launching ceremony of the OIC Arbitration Center were conducted.
      The afternoon session of the Ministerial Working Group was chaired by Vice President of the Republic of Turkey H.E. Mr. Fuat Oktay. During this year’s COMCEC Ministerial Exchange of Views Session, the subject The Role of Islamic Finance in Supporting Microenterprises and SMEs Against Covid-19 Pandemic” has been addressed, and the Ministers have shared the experiences of their countries.
      During the Ministerial Exchange of Views Session, countries’ experiences about subjects such as the works of Islamic Finance Organizations, the role of regulatory and supervisory agencies, and regional and international collaborations regarding the utilization of Islamic Finance products and means by the SMEs that have an influence on many areas after COVID-19 pandemic both in terms of economic and social aspects have been shared, and the ways of enhancing the cooperation between Muslim countries on this subject have been discussed. Within this scope, the Ministers have acknowledged the policy recommendations as prepared by COMCEC Financial Cooperation Working Group.
      Important Programs and Projects are being put into practice within the Scope of the COMCEC such as putting into practice of OIC Arbitration Center as well as of the ‘’Trade Preferential System among the Member States of the Organization of the Islamic Cooperation (TPS-OIC)’. In addition to these programs and projects, efforts for the mitigation of the negative effects of COVID-19 Pandemic is being supported. In this context, 9 projects are being supported in 2021 within the scope of COVID Response Program.

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