Trade among Islamic nations must become key focus: TDAP chief

Saqib Chadhar, chief executive of the Trade Development Authority of Pakistan, pledged full government support for economic cooperation among Muslim nations, according to Business Recorder. Speaking at the FPCCI Islamic Economy Summit in Karachi on Wednesday, he argued that trade among Islamic states must be a central priority. He also called for stronger economic ties and wider business connectivity among OIC member states.

Dr Mirza Ikhtiar Baig, a member of the National Assembly, said Pakistan could become a leading supplier of halal-certified foods, meat, medicines and cosmetics to Muslim markets. He added that the textile and garment sector could expand shipments to Islamic countries through competitive pricing, stronger branding and greater value addition. Rice, fruit, vegetables, seafood and livestock products were also cited as offering large export openings, particularly in the Gulf region.

Figures presented at the event put total trade among OIC members at roughly USD1 trillion in 2024, against USD884 billion in 2023. Intra-OIC trade made up 20.36 percent of member countries' foreign trade in 2024, up from 19.16 percent in 2023. The OIC target is 25 percent, and 30 member countries had already met it in 2024. Qurrat-ul-Ain, vice president of FPCCI, said the combined economy of 57 Muslim countries exceeded USD10 trillion, pointing to openings in trade, investment and tourism.