Pakistan has called for deeper economic integration, easier access to trade financing and stronger private-sector cooperation among Islamic countries, as Commerce Minister Jam Kamal Khan addressed the 42nd session of the Organisation of Islamic Cooperation’s Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul on November 3, 2026.
What happened?
Federal Minister for Commerce Jam Kamal Khan addressed the 42nd COMCEC session in Istanbul, chaired by Türkiye’s Vice President Cevdet Yılmaz. He said greater trade integration among the OIC’s 57 member states could unlock substantial shared prosperity, and stressed the session’s theme: developing effective trade financing tools to increase exports in OIC member countries.
Key details
- The session’s theme is “Developing Effective Trade Financing Tools for Increasing Exports in the OIC Member Countries”.
- The minister stressed affordable, innovative financing for small and medium enterprises (SMEs) so they can enter international markets and become competitive exporters.
- Pakistan highlighted the operationalisation of the Export-Import Bank of Pakistan (EXIM Bank), which provides trade credit insurance, guarantees and refinancing to protect exporters and support their expansion, including into OIC markets.
- Pakistan is expanding Shariah-compliant financing instruments, including Murabaha, Salam and Ijarah, and digitalising export credit processes through online portals linking commercial banks and development finance institutions, to cut processing times for micro, small and medium enterprises.
- Concessional financing facilities for exporters have been substantially enhanced to strengthen their competitiveness.
- Pakistan hosts the headquarters of the Islamic Chamber of Commerce and Development (ICCD), described as a platform connecting the private sectors of the 57 Islamic countries.
- The minister also emphasised closer cooperation in digital integration, artificial intelligence and sustainable development.
What it means for people in Pakistan
For Pakistani exporters and small businesses, the push matters in practical terms: better trade financing, export credit insurance through EXIM Bank and faster digital credit processes could make it easier and cheaper to sell abroad, especially in other OIC markets. Stronger trade links across the 57-country bloc could also open new buyers for Pakistani goods and services, supporting jobs at home.
