7th October, 2010, Istanbul,
President Abdullah Gul of Turkey graced the opening of the 26th COMCEC meeting in Istanbul, Turkey, attended by economy and commerce ministers of COMCEC member countries as well as leaders of the financial institutions of the Islamic world. Chairing the 26th COMCEC meeting, H.E. the Turkish president said COMCEC is determined to spearhead economic and commercial development amongst its member states. In the face of the rapid transformation process in the world, he said, solidarity is much needed to prevail amongst COMCEC member countries. The Turkish president also touched upon eradication of poverty and improving of proper education as the most important issues which top the list of priorities that OIC member states need to focus on adding development can be ensured through transparent and accountable administration.
The Turkish president and chairman of the 26th COMCEC meeting also joined voice with the IDB Group in urging OIC member countries to speed up the streamlining of the trade preferential system lauding the support and cooperation IDB Group has displayed for COMCEC as well as the productive efforts the Bank has also been pursuing.
The President of the IDB Group, H.E. Dr. Ahmad Mohamed Ali also addressed the meeting where he emphasized the role and the strong support IDB is receiving from OIC member countries in the face of the existing challenges. Referring to the favorable AAA ratings status the IDB Group has earned from the three leading global rating institutions for the last consecutive years, Dr. Ahmad Mohamed Ali said the activities of the Group have witnessed considerable increase in the field of Islamic development finance which last year reached US$ 7.25 billion showing a 29 percent increase in comparison with the year before stressing that the Bank is doubling the volume of its finances through 1430H - 1432H.
“The IDB Group has changed course from financing individual projects to a comprehensive programming pattern focusing on bolstering ties with IDB member countries”, said IDB Group President. Elsewhere in his remarks, Dr. Ali commended the strategic partnership between IDB Group and Turkey as well as the cross border cooperation between Turkey and Syria which, as the IDB Group president put it, has practically turned the Turkish-Syrian border into a work shop of trade cooperation setting a role model for intra-trade amongst OIC member countries.