OIC Economies

OIC wrap: Qatar, Morocco review trade, investment ties

Here's a roundup of key developments across the OIC network during the first two weeks of May

Editor's note: Qatar is looking to ramp up bilateral ties with OIC countries. Proof? Its officials discussed cooperation in trade and investment with Moroccan authorities. Qatari and Omani officials also met to discuss matters of mutual interest.

Trade Developments

Egypt / Pakistan

Al Baraka Group launches portal to boost Egyptian, Pakistani cooperation

Al Baraka Banking Group (ABG), listed on Bahrain Bourse and the Egyptian Exchange, has launched an inter-franchise collaboration portal to boost business opportunities for customers in Egypt and Pakistan.


This initiative aims to strengthen ties between Pakistani exporters and Egyptian importers, enhancing communication and supporting commercial endeavors. (Zawya)


Qatar / Morocco

Qatar, Morocco review trade, investment ties

Qatari commerce and industry minister, Sheikh Mohammed bin Hamad bin Qassim Al Thani, held discussions with Moroccan minister of industry and trade, Ryad Mezzour, on enhancing bilateral cooperation in trade, investment, and industry.


He also met with Malaysian minister of investment, trade, and industry, Tengku Zafrul Abdul Aziz.


Both meetings highlighted Qatar’s economic policies, incentives, legislation, and investment opportunities aimed at attracting investors and supporting the private sector. (The Peninsula)


Saudi Arabia / Nigeria

Saudi Arabia, Nigeria discuss agricultural cooperation and food security

Saudi environment, water, and agriculture minister Abdulrahman Alfadley met with Nigeria’s minister of agriculture and food security Sen. Abubakar Kyari during his visit to Nigeria.


The ministers explored cooperation across various sectors, emphasizing agricultural collaborations and the potential benefits of shared agricultural resources and food products for both countries. (Saudi Gazette)


Saudi Arabia / Azerbaijan

Saudi Arabia, Azerbaijan issue statement on energy cooperation

Saudi Arabia’s energy minister Prince Abdulaziz Bin Salman met with his Azerbaijani counterpart Parviz Shahbazov in Baku, resulting in a joint statement, according to the Saudi Press Agency.


Both countries reaffirmed their dedication to oil market stability and sustainability, aligning with OPEC Plus and global climate goals.  (Al Aswat)


Oman / Qatar

Oman, Qatar explore means of boosting cooperation, exchanging expertise

Sayyid Saud Hilal Al Busaidi, governor of Muscat, met with Abdullah Hamad Al Attiya, Qatar's minister of municipality, and his delegation to enhance bilateral cooperation.


They discussed matters of mutual interest, shared experiences, and highlighted projects. Both officials emphasized the importance of cooperation and expertise exchange.  (Zawya)


Malaysia / Kyrgyz Republic

Malaysia, Kyrgyz Republic place importance on cooperation in halal industry

Malaysia and the Kyrgyz Republic emphasized the importance of cooperation in developing the halal industry, recognizing its global economic significance and potential for economic growth.


In a joint statement, Prime Minister Anwar Ibrahim and Kyrgyz President Sadyr Zhaparov expressed their commitment to enhancing the halal industry through collaboration between relevant agencies. (New Straits Times)



IsDB, Mauritania sign partnership framework agreement

President of the Islamic Development Bank (IsDB) Dr. Muhammad Al Jasser signed a partnership framework agreement with Mauritania’s Minister of Economy and Sustainable Development, Abdesselam Ould Mohamed Saleh.


The agreement aims to support Mauritania’s efforts towards economic transformation. (Zawya)


Saudi Arabia / Qatar

Saudi Arabia and Qatar sign tax rules agreement

Saudi Arabia and Qatar signed an agreement to avoid double taxation and prevent tax evasion.


During the signing ceremony in Doha, Al-Jadaan emphasized that the agreement aims to strengthen legislative coordination between the two countries, boost bilateral trade, and attract investment, according to the Saudi Press Agency.


Al-Kuwari highlighted the agreement's significance and its role in ensuring transparency by exchanging financial information, as both nations collaborate on taxation and economic relations.   (Arab News)


Trade Developments

Spain / Norway / Ireland

OIC welcomes Spain, Norway, and Ireland’s recognition of the state of Palestine

The Organization of Islamic Cooperation (OIC) welcomed the decision of Spain, Norway, and Ireland to recognize the State of Palestine.


The OIC noted that this historic step aligns with international law and United Nations resolutions, affirming the legitimate rights of the Palestinian people and enhancing Palestine's status internationally.(OIC ORG)



Intra-OIC trade
Social impact projects
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