The 40^th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organisation of the Islamic Cooperation (COMCEC) was held in Istanbul, Republic of Türkiye. High-level representatives from the Member and Observer States of the OIC, relevant OIC institutions, as well as other international organisations attended the Session. SESRIC participated in the Session with a delegation led by H.E. Zehra Zümrüt SELÇUK.

The four-day Session began on November 2, 2024, with the meeting of senior officials. During this meeting, delegations discussed several agenda items aimed at enhancing economic and commercial collaboration among OIC Member States.

During the Session, under agenda item 4: “World Economic Developments with Special Reference to the OIC Member Countries”, SESRIC presented findings of its report titled “OIC Economic Outlook 2024: Supporting Private Sector and SME Development in OIC Countries”. The report provided a comprehensive overview of global and regional economic and financial developments, accompanied by several policy recommendations to support private sector growth and the development of SMEs in OIC Member States. Additionally, under agenda item 11, titled “Alleviating Poverty,” SESRIC presented its progress report on the implementation of the OIC-TVET Strategic Roadmap 2020-2025. Within the same agenda item, SESRIC provided a report detailing progress toward achieving the Sustainable Development Goals (SDGs) in OIC Member Countries since the 39^th Ministerial Session of the COMCEC.

The Ministerial Meeting began on November 4, 2024, with an opening address by H.E. Recep Tayyip ERDOĞAN, President of the Republic of Türkiye and Chairman of the COMCEC. In his Statement, H.E. President ERDOĞAN called attention to the critical situation in Palestine and Lebanon. He highlighted the need for enhanced cooperation among OIC Member States to address the challenges in the global economy. He also emphasised that coordination in maintaining global economic stability and preventing financial crises is crucial for developing collective solutions.

Following H.E. President, the Secretary-General of the OIC, H.E. Hissein Brahim TAHA, delivered his address at the Opening Ceremony. H.E. TAHA condemned the massacres in Palestine and Lebanon, urging the international community to act swiftly to end Israel’s aggression and the loss of innocent lives. He highlighted the committee's crucial role in promoting economic cooperation and solidarity among OIC Member States. He also emphasised the need to strengthen cooperation in the food and agriculture sectors, primarily to support rural communities in the least developed OIC Member States.

Furthermore, the Opening Ceremony included addresses from Ministers representing Qatar, Gambia, and Malaysia, who spoke on behalf of the Arab, African, and Asian groups, respectively.

During the Ministerial Working Session, Ministers from OIC Member States held in-depth discussions on various issues related to economic and commercial collaboration. This year's COMCEC Ministerial Exchange of Views Session focused on “Digital Transformation of Payment Systems in OIC Member Countries”, facilitating the sharing of experiences and consideration of cooperation opportunities. These detailed discussions focused on this main theme while also helping to finalise the agenda for the upcoming 2025 Ministerial Session of the COMCEC.

The documents of the 40^th Ministerial Session of the COMCEC are available on the COMCEC website at https://www.comcec.org/history/comcec-ministerial-sessions/40th-session-of-the-comcec/

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