IDB Group participates in the 25th Session of COMCEC

ASTANA. November 5. KAZINFORM. The President of the Islamic Development Bank Group Dr. Ahmad Mohamed Ali is leading an IDB Group delegation to Istanbul to participate in the 25th Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Conference (COMCEC) which will be held from 5-9 Nov. 2009 in Istanbul, Turkey; Kazinform refers to the IDB's press service.

The COMCEC Economic Summit scheduled to be held on 9 Nov. 2009 will be convened at the level of the Heads of State of the Member Countries. The Ministerial Opening Session will be held on 7 Nov. 2009 where the IDB group President will deliver a statement and award the IDB Islamic Solidarity Prize for the Promotion of Trade among OIC Member Countries which was won this year by the Export Promotion Center of Turkey. This is the second year of the prize.

The IDB Group is expected to submit to the 25th Session a number of progress reports on the implementation of various programs. They include the promotion of Intra-OIC Trade Action Plan for OIC Cotton Producing Countries, Development of the OIC Halal Food Standards, the Islamic Solidarity Fund for Development, Vocational Education and Training Program for the OIC Member Countries, Financial Cooperation among OIC M. Cs. and Enhancing Intra-OIC Investment Flows, IDB's Special Program for the Development of Africa, Cooperation with the Private Sector within the OIC M.Cs., the Impact of he Financial Crisis on the OIC M.Cs., the Impact of Food Crisis on the Economies of OIC M.Cs.

The IDB Group will also participate in the OIC-COMCEC Business Forum which will be held on 5-6 Nov. 2009. The Forum will be organized by the Union of Chambers and Commodity Exchange of Turkey in cooperation with the Independent Industries and Businessmen's Association (MUSIAD). An exhibition of the IDB Group is being organized at the side line of the Meeting.

The COMCEC was established during the Third Islamic Summit Conference held in Mecca in 1981 with a mandate to draw up programs for joint action as well as coordinate and follow-up the activities pertaining to economic cooperation and follow-up activities pertaining to economic cooperation among OIC Countries; the press release reads.

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