Prioritize trade, investment projects, OIC chief urges member states

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OIC Secretary-General Yousef Al-Othaimeen speaking during the meeting of the OIC's Standing Committee for Economic and Commercial Cooperation in Istanbul, Turkey, on Wednesday. (SPA)
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Turkish President Tayyip Recep Erdogan chairs the meeting of the OIC's Standing Committee for Economic and Commercial Cooperation in Istanbul on Wednesday. (SPA)
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Group photo of participants in the meeting of the OIC's Standing Committee for Economic and Commercial Cooperation. (SPA)
Updated 29 November 2018
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Prioritize trade, investment projects, OIC chief urges member states

JEDDAH: Economic restructuring and diversification were key words during a meeting held by a committee at the Organization of Islamic Cooperation (OIC) in Istanbul on Wednesday.
In a speech to the Standing Committee for Economic and Commercial Cooperation (COMCEC), OIC Secretary-General Yousef Al-Othaimeen called for reforms within member states suffering from recession and urged a more holistic development agenda.
The meeting was inaugurated by Turkish President Recep Tayyip Erdogan, who is chairman of COMCEC.
Al-Othaimeen emphasized prioritizing trade and investment projects, which he said may reduce growing unemployment and quell the effects that mass migration is having on national economies.
He praised OIC’s member states’ response to the economic and humanitarian problems faced by some member states, which were the result of increasing political and natural crises.
“Infrastructural and regional integration are key to OIC policymaking, which are in turn being given top priority by member states,” he said.
Development programs designed for Africa and Central Asia have yielded major projects in the trade, energy, agriculture and transport sectors, notably the Arab-Africa trade bridge, the Kazakhstan-Turkmenistan-Iran railway and the Dakar-Port Sudan railway, he added.
Dr. Bandar Hajjjar, president of the Islamic Development Bank, and Rifat Oglu, vice president of the Islamic Chamber of Commerce, Industry and Agriculture, also gave speeches during the meeting.


Iranian regime continues to feed sectarianism: Saudi deputy defense minister

Updated 7 min 42 sec ago
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Iranian regime continues to feed sectarianism: Saudi deputy defense minister

  • “We have to choose between the chaos that Iran spreads and stability, security and development,” he said
  • A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday

DUBAI: Saudi Arabia’s Deputy Defense Minister Khalid bin Salman said the Iranian regime continues to feed sectarianism and disrespect international laws at the eighth Moscow Conference on International Security on Wednesday.

“We have to choose between the chaos that Iran spreads and stability, security and development,” he said adding that “Iran is spreading chaos in the region through destruction and bloodshed, and by supporting the militias of Hezbollah and Houthis.”

“Houthi militias continue to violate the resolutions of the Security Council and the Stockholm Agreement, ignored UN resolution 2216 and the Gulf initiative…our goal is to achieve stability for Yemeni citizens under a legitimate government,” he said.

The deputy defense minister also said that the Kingdom is witnessing today an unprecedented transformation and development to achieve the vision 2030.

A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday, during which the members will take part in the eighth Moscow Conference on International Security and hold a number of meetings.

Prince Khalid was welcomed by Saudi Ambassador to Russia Dr. Raed Qurmali, military adviser Maj. Gen. Talal Al-Otaibi and Military Attache Gen. Mohammad Al-Mutairi, along with the deputy chief of staff of the Russian defense ministry and other civilian and military officials.