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Trade between members of the (OIC) increased by 156% in ten years, Minister of Trade and Investment reports

Makkah, The Minister of Trade and Investment Dr. Majid bin Abdullah Al-Qasabi, revealed that the value of trade exchanges between the Orgnization of Islamic Cooperation (OIC) Member Countries exports and imports has increased significantly since the implementation of the Organization's ten-year work (2005-2015), which moved from 271.45 billion US dollars in 2005 to US 694.23 billion in 2015, an increase of 156%.

In a speech at the opening session of the General Assembly of the Institute of Standard and Specifications, an affiliate of the OIC, he said that the directives of the Custodian of the Two Holy Mosques and HRH the Crown Prince always emphasize the need to strengthen cooperation and joint Islamic action in various fields, achieve economic growth and provide the elements of strengthening the unity and rapprochement between Islamic peoples, and that reflected in the Arab and Islamic depth as one of the pillars of the Kingdom's Vision 2030.

The Minister of Commerce pointed out that the establishment of Islamic cooperation is a fundamental pillar of the Saudi state since its inception..

He added that the Kingdom of Saudi Arabia, which presides over the Institute's Board of Directors during this period, is determined to build bridges with all the member countries of the Institute and to cooperate and integrate in the field of standards for the good and development of Islamic countries and societies and the world at large.

Source: Saudi Press Agency