OIC roundup: Oman, Morocco sign agreements to strengthen cooperation

Here's a roundup of key developments across the OIC ecosystem during the month of April

Editor's Note: The GCC is looking beyond the region to strengthen cooperation in priority areas, as is evident with Oman's agreements with Morocco, Kuwait's intent to bolster trade ties with Kazakhstan and the UAE's keenness to forge alliances with Turkiye. 

Trade Developments

Oman / Morocco

Oman, Morocco sign new agreements to deepen bilateral ties

Oman and Morocco have agreed to expand cooperation across key sectors including trade, energy, education and tourism, following a joint committee meeting between their foreign ministers.

The meeting highlighted the strong historical ties between the two countries, and the commitment to enhance regular consultation and advance cooperation, particularly in economic, investment, commercial, industrial, tourism, and educational sectors. (Zawya)

UAE / Morocco

First UAE-Morocco Business Council convenes in Sharjah
The UAE-Morocco Business Council held its first meeting in Sharjah.

The meeting was attended by officials from both countries, including the Vice Chairman of the Federation of UAE Chambers of Commerce and Industry, the Ambassador of Morocco to the UAE, and the President of the General Confederation of Moroccan Enterprises. (Zawya)

Algeria

IsDB strengthens cooperation with Bank of Algeria to advance Islamic banking

President of the Islamic Development Bank (IsDB), Dr. Muhammad Al Jasser, met with the Governor of the Bank of Algeria, Dr. Salah Eddine Taleb, to discuss strengthening technical collaboration and enhancing the regulatory and supervisory framework for Islamic banking in Algeria.

During the meeting, Dr. Al Jasser expressed satisfaction with the cooperation between the IsDB and the Bank of Algeria and reiterated the IsDB's commitment to providing technical assistance to support the development of Algeria's Islamic banking ecosystem in line with international best practices. (IsDB)

Kazakhstan / Kuwait

Kuwait, Kazakhstan to strengthen trade ties 

The Kazakhstani Foreign Minister visited Kuwait to participate in the 3rd ministerial meeting of the "Central Asia – Gulf Cooperation Council" format.

The discussions with officials focused on expanding cooperation in sustainable development, infrastructure financing, and socially important projects in Kazakhstan, particularly in the energy, water supply, and agriculture sectors. (GOV.KZ)

UAE / Türkiye

UAE, Türkiye forge stronger economic ties

The UAE and Türkiye held the second session of the Joint Economic and Trade Commission (JETCO) in Abu Dhabi to further expand their trade and commercial relations.

The meeting, co-chaired by officials from both countries, highlighted the rapid progress in UAE-Turkish relations following the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in 2023. (Zawya)