In Istanbul, Bolat urges OIC states to use trade financing to boost exports

Türkiye’s Trade Minister Ömer Bolat participated in the 42nd Ministerial Meeting of the COMCEC in Istanbul, presenting Türkiye’s experience in supporting exports and trade financing and holding bilateral meetings with ministers from member states of the Organisation of Islamic Cooperation.

The 42nd Ministerial Meeting of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC) brought together representatives of member states in Istanbul, with a focus on ways to finance trade and increase exports across the Islamic world.

Türkiye’s Trade Minister Ömer Bolat participated in the ministerial exchange-of-views session, held under the title “Developing effective trade financing tools to increase exports in the member states of the Organisation of Islamic Cooperation.” He presented his country’s experience in trade and exports and discussed mechanisms to strengthen the export capacity of Islamic countries and diversify the financing sources available to them.

Ministers and representatives of Organisation of Islamic Cooperation countries during the COMCEC session

“Turning potential into tangible gains”

Bolat wrote on X that turning the Islamic world’s economic potential into tangible gains requires expanding trade, increasing investments and building economic solidarity on a strong foundation of cooperation. He said stronger trade ties among member states would contribute to shared prosperity, rather than merely economic growth, amid rising uncertainty and competition in the global economy.

The Turkish minister stressed that Ankara places the development of its economic relations with friendly and brotherly countries, based on mutual trust and shared interests, among its top priorities, along with enhancing the Islamic world’s capacity for production, exports and investment.

Türkiye’s Trade Minister Ömer Bolat during the COMCEC ministerial meeting

Meetings with ministers from Africa and the Arab world

On the sidelines of the meeting, Bolat held bilateral talks with ministers from member states on deepening existing cooperation and opportunities to increase trade and establish new partnerships, including meetings with the trade ministers of Guinea and Senegal.

The meeting is being held in Istanbul from October 31 to November 3. Under the program, the ministerial session opened on November 2 with an address by Türkiye’s President Recep Tayyip Erdoğan, while Vice President Cevdet Yılmaz is chairing the working and closing sessions. So far, 178 projects have been implemented under the COMCEC project financing mechanism.

Photos: Türkiye’s Ministry of Trade

In Istanbul, Bolat urges OIC states to use trade financing to boost exports