The 18th Meeting of the COMCEC Tourism Working Group

Tourism

The 18th Meeting of the COMCEC Tourism Working Group was held on May 12th, 2022 in a virtual-only format, with the theme of “Sustainable Human Resource Management in Tourism Sector”.

The Meeting was attended by the representatives of 17 Member States. Representatives of COMCEC Coordination Office, and SESRIC have also attended the Meeting.

The Representatives of the Member States have shared their experiences, achievements and challenges regarding human resource management in their respective countries The participants have deliberated on the aforementioned theme and considered the study “Sustainable Human Resource Management in Tourism Sector” commissioned by the COMCEC Coordination Office.

For further information regarding the Meeting, follow the links below:

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18th Meeting of the COMCEC Trade Working Group

The 18th Meeting of the COMCEC Trade Working Group was held on May 11th, 2022, in a virtual-only format with the theme of “Increasing Internationalization of SMEs in the OIC Member Countries”.

The representatives of 19 Member States, which have notified their focal points for the Trade Working Group, attended the Meeting. The meeting was further attended by the representatives of OECD, SESRIC, ICDT, ICCIA and COMCEC Coordination Office.

The Representatives of the Member States have shared their experiences, achievements and challenges on SME internationalization. Türkiye, ICDT and CCO made presentation on Trade Preferential System among the OIC Member States (TPS-OIC). The Meeting has also considered the first draft study of the research report prepared on the said theme.

For further information on the Meeting, follow the links below:

 

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18th Meeting of the COMCEC Poverty Alleviation Working Group

Poverty Alleviation

The 18th Meeting of the COMCEC Poverty Alleviation Working Group (PAWG) was held on May 10th, 2022, in a virtual-only format with the theme of “Effective Social Assistance Provision and Socioeconomic Empowerment in the light of COVID-19 Pandemic”.

The representatives of 13 Member States, which have notified their focal points for the Poverty Alleviation Working Group, attended the Meeting. The meeting was further attended by the World Food Programme, Turkish Red Crescent (KIZILAY), SESRIC and COMCEC Coordination Office (CCO).

The Representatives of the Member States and International Institutions have shared their experiences, achievements, and challenges on how social assistance programs have been conducted and how these programs can function more effectively in the face of increasing poverty problems with the effect of the COVID-19 pandemic. Participants have also listened to the preliminary findings of the research report which is being prepared specifically on the theme of the Meeting. The final version of the report will be submitted to the 19th Meeting of the Working Group to be held in October, 2022.

For further information on the Meeting, follow the links below:

 

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2022-1 COMCEC Working Group Meetings

The first term of 2022 COMCEC Working Group meetings have started.

Click for meeting schedule and details.

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The 17th Meeting of the COMCEC Financial Cooperation Working Group was held on May 9th, 2022

Finance

The 17th Meeting of the COMCEC Financial Cooperation Working Group was held on May 9th, 2022, in a virtual-only format with the theme of “Standardization Efforts in Islamic Finance”.

The representatives of 26 Member States, which have notified their focal points for the Financial Cooperation Working Group, attended the Meeting. The meeting was further attended by the representatives of the SESRIC, SMIIC, IsDB, AAOIFI, CIBAFI, OIC Exchanges Forum, COMCEC Capital Markets Regulators Forum, OIC-COMCEC Central Banks Forum, Participation Banks Association of Turkey (TKBB), Ziraat Portföy, UNDP Istanbul International Center for Private Sector in Development (IICPSD), and COMCEC Coordination Office.

The Representatives of the Member States and international institutions have shared their experiences, achievements, and challenges on increasing the Standardization Efforts in Islamic Finance. The Meeting has also considered the first case-country study (Türkiye)  along with the first draft of the research report prepared on the said theme.

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Projects to be financed in 2022 under the COMCEC COVID Response are selected

CCR

Click here to access the list of successful projects.

Project owners will be contacted by the COMCEC Coordination Office in the coming days.

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Final List of the 9th Call for Project Proposals of COMCEC Project Funding is announced

CPF

Click here to access the final list.

Successful applicants will be contacted by the COMCEC Coordination Office in the coming days.

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Visit of Nigerian Delegation

Visit Of Nigerian Delegation
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The short-list of the Second Call for Project Proposals of COMCEC COVID Response has been announced

The short-list of the Second Call for Project Proposals of COMCEC COVID Response has been announced.

COMCEC Coordination Office will contact focal points whose projects are short-listed in the coming days. Click for the list.

 

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37th Ministerial Meeting of the COMCEC has been held

37th MINISTERIAL MEETING OF THE COMCEC

November 24-25, 2021, Istanbul

37th Ministerial Meeting of the COMCEC was held in November 24-25, 2021 at Istanbul Congress Center.

Having commenced with the video message of our President of the Republic Mr. Recep Tayyip ERDOĞAN, the Opening Session of the meeting was chaired by the Vice President of the Republic Mr. Fuat OKTAY, on behalf of our Honorable President.

At the Opening Session, the Trade Preferential System among the member states of the Organization of the Islamic Cooperation (TPS-OIC) was introduced, and the OIC/COMCEC 50 Shariah Index and the launching ceremony of the OIC Arbitration Center were conducted.

The afternoon session of the Ministerial Working Group was chaired by Vice President of the Republic Mr. Fuat OKTAY. During this year’s COMCEC Ministerial Exchange of Views Session, the subject “The Role of Islamic Finance in Supporting Microenterprises and SMEs Against Covid-19 Pandemic” has been addressed, and the Ministers have shared the experiences of their countries.

With the chairmanship of our Vice President of the Republic Mr. Fuat OKTAY, important decisions were made on the subjects within COMCEC’s agenda during the Closing Session which was held in November 25, 2021. Within this scope, inclusion of digital transformation to the cooperation scopes of the COMCEC was agreed upon. 37th Ministerial Session of the COMCEC has ended with the closing speech by Mr. OKTAY.

Also, within the scope of the 37th Meeting of the COMCEC, the Ministers of Trade have gathered in November 25, 2021 to discuss the final preparations for the implementation of TPS-OIC.

“The Role of Islamic Finance in Supporting Microenterprises and SMEs against Covid-19 Pandemic” has been addressed in this year’s COMCEC Meeting

During the Ministerial Exchange of Views Session, countries’ experiences about subjects such as the works of Islamic Finance Organizations, the role of regulatory and supervisory agencies, and regional and international collaborations regarding the utilization of Islamic Finance products and means by the SMEs that have an influence on many areas after COVID-19 pandemic both in terms of economic and social aspects have been shared, and the ways of enhancing the cooperation between Muslim countries on this subject have been discussed. Within this scope, the Ministers have acknowledged the policy recommendations as prepared by COMCEC Financial Cooperation Working Group.

Important Programs and Projects are being put into practice within the Scope of the COMCEC

  • OIC Arbitration Center is starting its Activities

Having been expressed by our Honorable President during his speech at the 13th Islamic Summit Conference, the proposal of establishing the OIC Arbitration Center is now being put into practice. The technical works that have been carried out by the Union of Chambers and Commodity Exchanges of Turkey and the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) for establishing the OIC Arbitration Center is now complete. Constituting the legal foundation of the Center, the Host Country Agreement has been signed by the chairmanship of our Honorable President during the 35th Ministerial Session of the COMCEC.

The launching of the Center was made during the Opening Session of the meeting. As a platform that was founded in Istanbul and that has the potential to resolve the disputes between the OIC Member States both in terms of trade and investment, the Center is a significant achievement for our country.

  • Trade Preferential System among the Member States of the Organization of the Islamic Cooperation (TPS-OIC) is Now Being Put into Practice

As COMCEC’s most important project towards enhancing the trade among Muslim countries, it is now the final stage for the de facto operation of the Trade Preferential System Among the Member States of the Organization of the Islamic Cooperation (TPS-OIC) after the completion of its legal foundation.

As proposed at the 36th Ministerial Meeting of the COMCEC, the Trade Negotiating Committee has convened in June 1-2, 2021. As a historical decision towards the de facto operation of the System, the Committee determined July 1, 2022 as the implementation date of the TPS-OIC. Participating countries were asked to complete their national regulations as of that date.

A video presentation for the introduction of TPS-OIC was made during the Opening Session of the Meeting. Besides, the Ministers of Trade have gathered within the scope of the Meeting in November 25, 2021. The Ministers have discussed the latest preparations for the implementation of the TPS-OIC, and confirmed July 1, 2022 as the date of the implementation of the System.

  • OIC COMCEC 50 Shariah Index

As developed by Istanbul Stock Exchange within the scope of the OIC Exchanges Forum and consisting of 50 stocks from 19 member states, the OIC COMCEC 50 Shariah Index is being calculated and published since 2012.

A fund has been established by Ziraat Portfolio with the initiation of Istanbul Stock Exchange within the scope of product development efforts that are based on Index and subject to trading. The OIC COMCEC Shariah Index Fund was launched at the 37th COMCEC Meeting Opening Session.

Multidimensional Development Efforts at COMCEC

Having started its activities after the President of the Republic of Turkey undertook the permanent chairmanship of the COMCEC at the 4th Islamic Summit Conference held in Casablanca in 1984, the COMCEC has been carrying out its efforts for 37 years without interruption.

As the second international platform with most members after the United Nations with its 57 members and 5 observer countries, COMCEC has put into practice many important projects such as funding the trade between the member countries, investment and trade assurance, trade fairs, private sector meetings, halal food standards to enhance the economic and commercial cooperation among the member countries.

With its COMCEC Strategy which has gained its functionality in 2013, the COMCEC is further reinforcing its mission as to being a multidimensional international economic cooperation platform that constitutes a basis for enhancing the collaboration, producing knowledge, and approximation of policies through its Working Groups which were founded in 6 areas (Trade, Agriculture, Tourism, Transportation, Poverty Alleviating, and Financial Cooperation) between Muslim countries.

COMCEC Financial Support Programs

  • Policy Recommendations Embraced in COMCEC Ministerial Meeting are being put into practice

With its COMCEC Project Funding (CPF) Mechanism as another important implementation medium of COMCEC Strategy, human and corporate capacities of the member countries are being deployed for collaboration under COMCEC. With the said mechanism, projects of the member countries and relevant OIC organizations towards the implementation of COMCEC Ministerial policy recommendations are being funded. Within this framework, 83 projects have been successfully implemented since 2014. This year, 25 projects are being put into practice.

  • Efforts for the mitigation of the negative effects of COVID-19 Pandemic is being supported.

Preparations for the COMCEC COVID Response Program that aims to support member countries in the fight against COVID-19 pandemic have been swiftly completed last year, and the first project has been called for in October 2020. The main purpose of the program is to mitigate the negative effect of the pandemic on the economies of the member countries. Within this framework, it is aimed to ensure the financial support for needs analysis, experience sharing, and the provision of the goods and services that member countries need.

In this context, 9 projects are being supported in 2021 within the scope of COVID Response Program.

  • COMCEC Al Quds Program for the economic and social development of Al Quds continues.

Having commenced by the COMCEC Coordination Office in 2020, it is aimed to make a contribution to the economic and social development of Palestine through the COMCEC Al Quds Program.

Main objects of the program are to further promote Al Quds as a tourism destination, to make a contribution to the preservation of the cultural heritage and archaeological structure in Al Quds, to ensure the rehabilitation of national cultural identity and touristic architecture, and to enhance the capacity of the institutions and organizations in local and national scale.

Accordingly, 9 projects are being supported this year within the scope of the COMCEC Al Quds Program.

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