On January 28, leaders of the OIC institutions under the subcommittee on Trade and Investment (TISC) held a consultative meeting to review TISC activities for 2016-2020 and prospects of the intra-OIC trade.
Mrs. Latifa Elbouabdellaoui, Director-General of the Islamic Centre for Development of Trade (ICDT) delivered a welcoming address, calling the participants to explore ways of cooperation within TISC to support the member states.
Director-General of IOFS H.E. Yerlan Baidaulet presented the programmes of IOFS that would help to build intra-OIC trade corridors and food supply chains, such as IFPA and the development of strategic commodities. Furthermore, he proposed to arrange the next TISC meeting during the Fourth General Assembly of IOFS in September 2021. Following the event, the sides agreed to exchange technical recommendations to improve coordination and achieve common targets in the field of trade and investments in the OIC states.
The virtual event was held with the participation of heads of ICDT, ICCIA, ITFC, SMIIC, ICIEC, ICYF, COMCEC, SESRIC and ICD.
TISC is a subcommittee on Trade and Investment chaired by the Islamic Centre for Development of Trade (ICDT). The subcommittee was created in December 2015 during an Annual Coordination Meeting of OIC Institutions (ACMOI). TISC aims to achieve the objectives of the OIC Plan of Action 2025 through designing and implementing integrated projects, such as the development of Halal Industry, the Single Window Initiative and Trade Facilitation, the Development of Strategic Products; Investment Promotion and Support for Investment Promotion Agencies of OIC Member States, Private Sector and SMEs development. The OIC Plan of Action 2025 calls for reaching the target of 25% of intra-OIC Trade by 2025.