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The Standing Committee for Economic and Commercial Cooperation (COMCEC) is one of four standing committees of the Organisation of Islamic Cooperation (OIC). It was established in 1981 at the Third
Islamic Summit french: Sommet islamique de l'Organisation de la coopération islamique , logo = , logo_size = , logo_alt = , logo_caption = , image = OIC_Logo_since_2011.svg , image_size ...
Conference held in
Mecca Mecca (; officially Makkah al-Mukarramah, commonly shortened to Makkah ()) is a city and administrative center of the Mecca Province of Saudi Arabia, and the Holiest sites in Islam, holiest city in Islam. It is inland from Jeddah on the Red ...
/
Ta'if Taif ( ar, , translit=aṭ-Ṭāʾif, lit=The circulated or encircled, ) is a city and governorate in the Makkan Region of Saudi Arabia. Located at an elevation of in the slopes of the Hijaz Mountains, which themselves are part of the Sarat M ...
and serves as a multilateral economic and commercial cooperation forum in the Islamic world. The committee convenes annually at ministerial level in
İstanbul Istanbul ( , ; tr, İstanbul ), formerly known as Constantinople ( grc-gre, Κωνσταντινούπολις; la, Constantinopolis), is the List of largest cities and towns in Turkey, largest city in Turkey, serving as the country's economic, ...
under the Chairmanship of the President of the
Republic of Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...
. The organization defines its scope of cooperation by
trade Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct excha ...
,
transport Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, an ...
,
agriculture Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...
,
tourism Tourism is travel for pleasure or business; also the theory and practice of touring (disambiguation), touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tour (disambiguation), tours. Th ...
,
poverty alleviation Poverty reduction, poverty relief, or poverty alleviation, is a set of measures, both economic and humanitarian, that are intended to permanently lift people out of poverty. Measures, like those promoted by Henry George in his economics clas ...
, and financial as well as private sector cooperation.


Objectives

The COMCEC lists following objectives on its website: * To address the economic challenges of the Islamic Ummah and to contribute to the development efforts of the Member States. * To produce and disseminate knowledge, share experience and best-practices, develop a common understanding, and approximate policies among the Member States in line with the vision and principles of its Strategy.4th Extraordinary Session of the Islamic Summit Conference (14–15 August 2012) * To serve as the central forum for the Member States to discuss international economic and commercial issues. * To study all possible means of strengthening economic and commercial cooperation among the Member States. * To draw up programs and submit proposals designed to increase the welfare of the Member States. * To ensure the overall coordination of the activities of the OIC relating to economic and commercial cooperation among the Member States.


History

* November 14–16, 1984: First session of the COMCEC in Istanbul * September 4–7, 1988: At the fourth session of the COMCEC in Istanbul, the states adopted basic guiding principles to set up a trade preferential system among OIC Member States (Declaration of Intent). * October 7–10, 1990: At its sixth summit, COMCEC is presented a draft framework agreement on the Trade Preferential System which will be adopted afterwards.


Membership


Member States

* (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1997) * (Joining date: 1974) * (Joining date: 1969) * (Joining date: 1975) * (Joining date: 1969) * (Joining date: 1998) * (Joining date: 1969) * (Joining date: 1995) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1974) * (Joining date: 1969) * (Joining date: 1992) * (Joining date: 1986) * (Joining date: 1992) * (Joining date: 1976) * (Joining date: 1974) * (Joining date: 1969 ) * (Joining date: 1992) * (Joining date: 1969) * (Joining date: 1996) * (Joining date: 1969) * (Joining date: 1983) * (Joining date: 1994) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1974) * (Joining date: 1969) * (Joining date: 1972) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1969) * * (Joining date: 1969) * (Joining date: 2001) * (Joining date: 1972) * (Joining date: 1972) * (Joining date: 1972) * (Joining date: 1978) * (Joining date: 1992) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1974) * (Joining date: 1974) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1969) * (Joining date: 1972) * (Joining date: 1992) * (Joining date: 1974) * (Joining date: 1996) * (Joining date: 1976)


Observers

* * * * *


The Trade Preferential System (TPS-OIC)

The Trade Preferential System aims to promote trade among the Member States of the OIC by means of exchanging preferences. It includes a Most-Favored Nation clause, providing that all states participating in the TPS-OIC receive equal trade advantages as the "most favoured nation" by the country granting such treatment.


Trade among OIC countries

The official website indicates a goal of 20% intra-OIC trade by the year 2015. However, some economists consider this goal to be unrealistic.


Legal documents


TPS-OIC Framework Agreement
(entry into force: 2002)
Protocol on Preferential Tariff Scheme (PRETAS)
(entry into force: February 2010)
TPS-OIC Rules of Origin
(entry into force: August 2011)
Rules of procedures of the Committee


References

{{reflist


External links


Official website
Organisation of Islamic Cooperation standing committees