Gambiaj.com – (BANJUL) – The Banjul OIC Conference Final communiqué has emphasized the pivotal role of trade in driving economic growth and employment across the OIC Member States. It highlighted the importance of active participation in global supply chains, development of higher value-added products, and fostering regional supply chains. Additionally, it stressed the need to promote the Halal industry and organize trade promotion events, including the OIC Trade Fairs.

The Conference commended the initiation of the Trade Preferential System among OIC Member States (TPS-OIC) from 1st July 2022. It urged the effective implementation of TPS-OIC to achieve the target of 25% trade exchanges among OIC Member States by 2025. The Conference also called upon Member States to expedite the signing and/or ratification of the TPS-OIC Framework Agreement, Protocol on Preferential Tariff Scheme for TPS-OIC (PRETAS), and TPS-OIC Rules of Origin.

Furthermore, the Conference welcomed the Republic of Tunisia’s offer to host the 10th Session of the OIC Halal Product Fair in 8-12 October 2024, encouraging active participation from Member States and private sector institutions.

The Conference congratulated the Islamic Development Bank (IsDB) on its 50th anniversary and recognized its significant growth in offering financing solutions for Member States. It appreciated IsDB’s role in advancing comprehensive development and enhancing cooperation within the OIC.

Additionally, the Conference welcomed the Rabat Declaration from the High-Level Ministerial Conference on Middle-Income Countries, emphasizing a paradigm shift in international cooperation for the benefit of these countries. It also supported the upgrade of the Group of Friends of Middle-Income Countries to an official governmental platform for dialogue, awareness-raising, and coordination on development issues.

Moreover, the Conference expressed deep concern over food security challenges in OIC Member States, exacerbated by various factors including population growth, climate change, and the COVID-19 pandemic. It called for increased efforts to address these challenges through investment in resilient agriculture and food systems, supporting smallholder farmers and enterprises, and cooperation in science and technology. The Conference commended the Global Drylands Alliance and IsDB’s Comprehensive Food Security Response Program in this regard.

The Conference also highlighted the importance of supporting private-sector led growth for job creation and economic inclusion. It emphasized the need to empower the poor and vulnerable through education, skills training, and access to financial resources, particularly Islamic micro-financing.

Additionally, the Conference recognized the impact of the COVID-19 pandemic on labour markets, urging Member States to promote decent jobs and entrepreneurship opportunities. It welcomed the Inaugural Session of the General Assembly of the OIC Labour Centre and called for support to enable the Centre to execute its mandate.

Furthermore, the Conference stressed the importance of regional and interregional transport connectivity for trade and economic activities. It supported efforts to improve transport infrastructure and promote best practices in transport among Member States.

The Conference also affirmed support for reforming the World Trade Organization (WTO) to strengthen the multilateral trading system. It urged enhanced coordination among Member States to address unilateral trade measures that hinder developing countries’ exports.

Moreover, the Conference called for coordination on reforming the international financial architecture to enhance existing financing mechanisms and develop new ones to support developing countries in achieving sustainable development goals and addressing climate change challenges.

In conclusion, the Conference highlighted various initiatives and efforts aimed at promoting economic cooperation, trade, and development among OIC Member States, emphasizing the importance of unity and solidarity in addressing common challenges.