OIC secretary general lauds adoption of inter-Islamic framework agreement on trade preferential system
Regional, Economics, 10/28/2002

Secretary general of the Organization of the Islamic Organization, Abdelouahed Belkziz, lauded on Friday the conclusion of the Framework Agreement on Trade Preferential System between Islamic countries, that will enter into force in three months.

Speaking at the closing session of a meeting of the OIC's permanent committee for Economic and Trade Cooperation, the OIC chief said the framework agreement fulfills a dream cherished by Islamic countries to consolidate trade exchanges.

He also announced that countries that have ratified the agreement will hold the first meeting of the committee of trade negotiations in Turkey.

The Istanbul meeting also adopted the project of holding an Islamic fair trade next December in Sharjah, in the United Arab Emirates with the collaboration of the Casablanca-based Islamic Center for Trade Development.

The OIC secretary general further praised other recommendations adopted by the meeting on consolidation of inter-Islamic economic and trade cooperation, investments promotion, the role of the Jeddah-based Islamic Development Bank and of the Islamic chamber of commerce and industry.

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