Pakistan urges OIC to boost intra-bloc trade, ease SME financing

Pakistan’s Commerce Minister Jam Kamal Khan urged OIC members to expand trade among their economies and improve financing access for small businesses at the 42nd COMCEC ministerial meeting in Istanbul, Business Recorder reported. Speaking for OIC member states, he said stronger coordination was needed amid geopolitical strain, supply interruptions and rising protectionism.

Khan identified trade finance, transport links, tourism, agriculture, food security and digital transformation as areas for joint work. He called for more varied financing tools, export credit guarantees and Shariah-compliant options, alongside digital links between customs and banks. He also highlighted the financing barriers faced by micro, small and medium-sized enterprises, including high collateral demands, transaction expenses and complex procedures.