Leaders attend OIC Business Roundtable in Istanbul

03:16

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Türkiye

Leaders attend OIC Business Roundtable in Istanbul

Many International leaders attended this year's Organisation of Islamic Cooperation Business Roundtable in Istanbul. The meeting hopes to offer ways to further enhance economic cooperation and remove trade barriers between member states. The OIC has 57 member states, all of them Muslim majority countries. Indonesia, Turkiye and Saudi Arabia are among the largest member countries by GDP. Trade between OIC countries has continued to rise, increasing from 701 billion dollars in 2019 to 873 billion dollars in 2022 growing by almost 25 percent. And the total GDP of the organization increased by 6 trillion dollars from 19.9 trillion in 2019 to 26.3 trillion in 2023 an increase of 32 percent. Turkiye has played a key role in the group taking part in projects to reduce poverty, improve infrastructure development and increase humanitarian aid. High on the agenda at this year's meeting was efforts to further remove trade bottlenecks and improve ties in the services sector as well as trade through e-commerce.