Islamic countries examine prospects of preferential trade zone

The creation of a preferential trade zone between member countries of the Organization of Islamic Conference (OIC) topped the 20th ordinary meeting of the Islamic Trade Development Center that wound up in Casablanca Thursday.

The project, which concerns general tariff cuts and direct trade measures, will follow global negotiations between the 12 OIC member countries that ratified the framework agreement on the preferential trade system. The first round will be held in Turkey early 2004.