Libya recently took part in the 40th session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) under the Organization of Islamic Cooperation (OIC), held in Istanbul and chaired by Turkish President Recep Tayyip Erdoğan.
The session was attended by ministers of economy, trade, and industry from OIC member states, along with representatives from various Islamic nations.
Libya was represented by the Minister of Economy and Trade in the Government of National Unity, Mohamed Al-Hwaij, who addressed the assembly with a speech emphasizing “the aggression and genocide faced by the Palestinian people, the expanding scope of this crisis, and its impact on several member states.”
Al-Hwaij also highlighted the evolving global geopolitical landscape and the emerging economic challenges it poses.
Al-Hwaij called for a “more flexible approach in setting the meeting agenda, making it adaptable to rapid global changes.” He mentioned that Libya’s Ministry of Economy had forwarded a draft agreement to Turkey’s Ministry of Trade, aiming to eliminate tariffs on food and medical products to facilitate and liberalize trade between the two nations.
Al-Hwaij also extended the invitation to other OIC member states, encouraging them to initiate similar agreements.
The meeting sessions further discussed reports from technical committees on strengthening intra-OIC trade, deepening commercial cooperation, improving the transportation and telecommunications sectors, sustainably enhancing the tourism industry, increasing agricultural productivity, alleviating poverty, and advancing cooperation in digital transformation. Discussions also explored digital payment systems among OIC member countries.
The assembly stressed “the importance of supporting the private sector and reviewing developments related to the Trade Preferential System among OIC Member States (TPS-OIC).”
The 40th session of COMCEC is set to continue until Tuesday, November 5, 2024.
