Promoting the role of the private sector is critical for sustainable economic growth and for reducing poverty in the Member States. In this regard, enhancing private sector involvement in economic and commercial cooperation among the OIC Member States is one of the significant goals of the COMCEC. Private Sector Cooperation has been a permanent agenda item of the COMCEC Sessions.
With regards to Private Sector Cooperation many important activities have been conducted by the OIC Institutions under the umbrella of the COMCEC for enhancing private sector involvement in the cooperation endeavors, such as Private Sector Meetings and Islamic Trade Fairs.
The Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) organizes annual Private Sector Meetings, in line with the relevant resolutions of the COMCEC. These Meetings bring the private sector representatives of the member countries together to discuss common challenges, as well as the opportunities to overcome them. ICCIA regularly submits reports on Private Sector Meetings to the COMCEC Sessions.
Islamic Trade Fairs are organized regularly by the Islamic Centre for the Development of Trade (ICDT) every two years in one of the OIC member countries with a view to promoting intra-OIC trade. ICDT also organizes sectorial trade fairs in the Member States. It regularly submits reports on Trade Fairs to the COMCEC Sessions.
Within the framework of private sector cooperation, COMCEC gives utmost importance to the development of SMEs in the Member States. In this regard, the first two meetings of the COMCEC Trade Working Group focused respectively on Promoting the Exports of the SMEs in the OIC Member States and Improving SMEs Access to Trade Finance in the OIC Member States. More information on the said meetings could be found in the related section of COMCEC Website at: http://www.comcec.org/en/cooperation-areas/trade/comcec-trade-working-groupmeetings/