Iraq: We hope that the volume of intra-OIC trade will double to more than 481 billion


 money and business

Economy News _ Baghdad

The Ministry of Commerce on Sunday expressed the hope that the volume of intra-OIC trade from previous years will double to more than 481 billion dollars. 
“I have the pleasure to participate today on behalf of Minister Al-Ani at the opening of the 16th Trade Fair of the Member States,” said Walid Al-Moussawi, Senior Undersecretary of the Ministry, in a speech delivered on behalf of Minister Mohammed Al Ani during the opening ceremony. In cooperation with the Islamic Center for the Development of Trade and under the patronage of His Excellency the Prime Minister. “
He added: “I am pleased to welcome you today to this economic event which brings together the countries of the Islamic world under one umbrella to develop and strengthen economic relations among them by providing opportunities for the sectors operating in these countries to learn and cooperate and to take advantage of the possibilities and opportunities.” 
Al-Moussawi expressed his hope that “the outputs of this exhibition will be a milestone and a new qualitative breakthrough in the work of the exhibitions.” He also said: “As you are aware, achieving economic integration among member states is a goal pursued by organizations and economic blocs in the world, Through the promotion of economic and trade cooperation between Islamic member states. “
Undersecretary of the Ministry said: “Our gathering today is of particular importance in the light of the world events, developments and successive crises at the regional and global levels, which reflect their direct and indirect effects on the economic situation, especially with regard to improving the investment climate and liberalization and enhancing opportunities for integration into the global economy. We must move together in a rapid and accelerated pace to progress in regional action because we are in a world where there is no place for those who move alone and therefore we should make more efforts and work continuously to translate the vocabulary of our visions to concrete facts on the ground and for that Sick We must overcome many challenges and endure many difficulties until we reach our goals and achieve our hopes and ambitions. “
Al-Moussawi pointed out that “Iraq today, after its victories over the terrorist gangs, thanks to the security forces and popular mobilization and the consequent return of safety and stability to the country is striving to return to its Arab environment and its Islamic and regional role. Which is a forum for institutions, bodies, companies and businessmen in the Islamic world. It is also an occasion to promote investment, introduce the products, industries and services of member countries and exchange business ideas among businessmen and traders in the OIC member states. ” 
“The exhibition is an important economic forum, with a large number of companies involved in the construction sector,” said Hashem Al Sudani, Director General of Exhibitions and Commercial Services of Iraq.
“The establishment of this exhibition reflects the interest of the Iraqi government and the private sector in this great event and embodies the policies adopted by the state to establish strong trade and investment relations with the Islamic countries on the basis of mutual benefit and mutual cooperation, achieve comprehensive renaissance in various fields and strengthen brotherhood and openness through partnership and building. Strong economic relations contribute to the maintenance of equal cooperation on the Arab and Islamic levels. God has blessed the Islamic countries with promising investment assets and working hard according to a clear vision. And the welfare of all “. 
Al Sudani explained that “the exhibition is a new start for harmonious and compatible business with a clear and sound commercial approach and a scientific and accurate approach, and thus we will be compatible in all works in a good and useful march.”
He stressed the importance of the hoped-for role of the exhibition in the level of trade exchange, enhancing the opportunities for intra-OIC investments and introducing investment, trade and economic opportunities in the countries organizing the exhibition with member countries, businessmen and investors and opening up new markets for the products and industries of participating countries. 
“We are pleased today with the participation of Islamic countries in the exhibition, especially in light of the volume of intra-OIC trade reaching 481 billion dollars in 2017. We hope that this will double over the next few years to reflect the depth of Islamic relations. All Islamic countries to enhance the volume of trade exchange between them. “
He pointed out that “active participation in the exhibition allows to meet with the largest gathering of decision makers, businessmen, trade development organizations and professional associations in the Islamic world. This event is a platform for economic actors in the member countries and an important economic pillar in expanding your business network and promoting your products and services. Marketing plans “. 
Al-Sudani expressed the hope that the exhibition will contribute to the development and deepening of trade and investment cooperation between Islamic countries and open new channels for exchanging views and ideas on how to move these relations to better levels.
“This comes through accelerating the pace of activating the role of Islamic finance institutions, joint business councils, supporting and encouraging business men and women, executive institutions of the business sector in Islamic countries, and setting up practical mechanisms to implement and follow up the outcomes of conferences, forums and meetings of men and women entrepreneurs, Ways to develop information exchange, review regulations and agreements that regulate trade relations between Islamic countries, discuss investment opportunities in various fields, discuss obstacles and mechanisms that address ways to facilitate them, and encourage the establishment of more exhibitions for And to benefit from the meetings provided by these exhibitions in the conduct of trade and investment deals, which give a strong impetus to move forward towards the development and strengthening of economic partnerships between Islamic countries. “


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