Report: OIC Country Members Exchange $ 481 Billion Worth of Intra-Trade

Published November 22nd, 2018 - 05:48 GMT
This came in the OIC's report to be presented to the 34th session of the Organization's Standing Committee for Economic and Commercial Cooperation (COMCEC) due to be held in Istanbul during the period 26-29 November 2018. (Shutterstock)
This came in the OIC's report to be presented to the 34th session of the Organization's Standing Committee for Economic and Commercial Cooperation (COMCEC) due to be held in Istanbul during the period 26-29 November 2018. (Shutterstock)

General Secretariat of the Organization of Islamic Cooperation (OIC) has recorded 74.6% of the volume of intra-trade among the Organization's main trading member states totaling $ 481 billion in 2017.

These countries included the Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Indonesia, Malaysia, Egypt, Pakistan, Oman and Iraq.

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This came in the OIC's report to be presented to the 34th session of the Organization's Standing Committee for Economic and Commercial Cooperation (COMCEC) due to be held in Istanbul during the period 26-29 November 2018.

The report pointed out that the net volume of inter-trade among the Organization's member states increased in 2017 to $ 322.2 billion, compared to $ 278.2 billion in 2016 due to volatile commodity prices including oil, mining and food products.


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