Pakistan has called for deeper economic integration, improved access to trade financing and stronger private-sector cooperation among member countries of the Organization of Islamic Cooperation (OIC), highlighting the potential of closer commercial partnerships to promote shared prosperity across the Islamic world. Federal Minister for Commerce Jam Kamal Khan made the appeal while addressing the 42nd Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the OIC in Istanbul, where discussions focused on strengthening trade and economic collaboration among member states.
The session was chaired by Türkiye’s Vice President Cevdet Yılmaz and brought together representatives to discuss ways to improve economic cooperation and address shared trade challenges. Referring to this year’s theme, “Developing Effective Trade Financing Tools for Increasing Exports in the OIC Member Countries,” Jam Kamal Khan emphasised the importance of affordable and innovative financing for businesses, particularly small and medium enterprises (SMEs). He said improving access to financial resources would help businesses enter international markets, expand export operations and strengthen their competitiveness.
The commerce minister reaffirmed Pakistan’s commitment to developing stronger economic and commercial partnerships with OIC member states. He said the country had taken practical steps to modernise its trade ecosystem, reduce risks associated with exporting and support businesses in accessing new markets. These efforts are intended to strengthen the capacity of Pakistani exporters while encouraging greater participation in trade with Islamic countries and other international markets.
Jam Kamal Khan highlighted the operationalisation of the Export-Import Bank of Pakistan (EXIM Bank) as an important step in supporting export-oriented businesses. The institution provides trade credit insurance, guarantees and refinancing facilities designed to protect exporters against financial risks and support their expansion. These services can help businesses pursue international opportunities with greater confidence, including markets across OIC member states, where stronger trade links could create opportunities for Pakistani products and services.
He also outlined Pakistan’s efforts to expand Shariah-compliant financing options for businesses. Instruments such as Murabaha, Salam and Ijarah are being widened to provide alternative financial solutions aligned with Islamic principles. The minister said these financing arrangements could help businesses access funding while supporting the development of trade and investment activities within the Islamic financial framework.
The digitalisation of export credit processes was another area highlighted during the address. Jam Kamal Khan said Pakistan was developing integrated online portals linking commercial banks and development finance institutions to simplify financing procedures. The digital systems are expected to reduce processing times and improve access to financial support for micro, small and medium enterprises (MSMEs), allowing businesses to manage export financing requirements more efficiently.
The minister added that Pakistan had substantially enhanced concessional financing facilities for exporters to improve competitiveness and encourage greater participation in international trade. Easier access to financing, combined with risk protection and streamlined procedures, can help businesses manage the costs of entering new markets and expand their export capacity.
Jam Kamal Khan also highlighted Pakistan’s role as the host of the headquarters of the Islamic Chamber of Commerce and Development (ICCD), describing the organisation as an important platform connecting private-sector stakeholders across 57 Islamic countries. He reaffirmed Pakistan’s support for the ICCD in facilitating business partnerships, promoting investment and strengthening cooperation between companies and policymakers throughout OIC member states.
Addressing broader global economic challenges, the commerce minister stressed the importance of cooperation in digital integration, artificial intelligence and sustainable development. He said technological advances offered OIC countries opportunities to modernise their economies, improve trade competitiveness and strengthen regional connectivity. Greater collaboration in these areas could support more efficient trade systems and help businesses respond to changing international market conditions.
Jam Kamal Khan appreciated COMCEC’s role in advancing multilateral economic cooperation and developing practical responses to common trade challenges. He also thanked the Government of Türkiye for its hospitality and commended the COMCEC Secretariat for organising the session.
Concluding his address, the minister urged OIC members to work collectively towards deeper economic integration, stronger trade partnerships and sustainable prosperity. He expressed confidence that closer cooperation among Islamic nations could generate significant economic benefits while strengthening their collective position in the evolving global economy.
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