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OIC chief calls for immediate economic growth strategy

economic growth strategy
economic growth strategy

OIC chief calls for immediate economic growth strategy

ISTANBUL: According to the leader of the Organization of Islamic Cooperation (OIC), Muslim countries need a plan to “boost economic growth, both sustainable and inclusive.” He made this statement on Monday in Istanbul.

Speaking at the 38th Committee for Economic and Commercial Cooperation (COMCEC) standing meeting in the Turkish metropolis, Hissein Brahim Taha said that the Covid-19 pandemic’s economic impact had been made worse by the interruption of energy supply brought on by the Russia-Ukraine conflict.

He said that the 57 nations that make up the Muslim bloc had seen “continued economic loss, along with tourism activity.”

Russian Ukraine conflict and Economic Crisis

“The Russian-Ukraine war aggravated the situation (owing to) interruption in the energy supply chain,” Taha said during the conference, which was also attended by Turkish President Recep Tayyip Erdogan and Vice President Fuat Oktay. “Before the OIC states could establish a clear route out of the epidemic.”

He said, “This dispute itself proves that the OIC states need to enhance food production.”

Taha urged more trade and investment between the bloc’s members and urged the Islamic Development Bank (IsDB) to develop “inclusive, supporting initiatives” to address the problems with food security among the members of the bloc.

Taha asked the member states to incorporate the bloc’s action program into their domestic policies while calling for an acceleration of the program.

57-member block to take initiative for Youth

Taha urged the 57-member Muslim bloc to “create synergies in the financial and technological system and support creative initiatives of young people in the economic sectors.”He emphasized that “inter-OIC cooperation is more important than ever.”

Taha acknowledged that the people and administration of Turkey have supported the bloc and said, “We hope for peace and stability in Turkey. We disapprove of terrorism in all its forms and manifestations.

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