ABU DHABI - Turkish State Minister Kursad Tuzmen said on Tuesday that commercial and economic relations between Islamic countries are developing rapidly, and asked for the removal of all kind of limitations --which block increase of commerce and investments--.
Tuzmen also suggested creation of a synergy in customs applications and transportation among Islamic countries.
Speaking at the 11th International Business Forum organized by Turkish Independent Industrialists' & Businessmen's Association (MUSIAD) in United Arab Emirates, Tuzmen said, "today, total population of the Organization of the Islamic Conference (OIC) countries has exceeded 1.5 billion. This is more than one fifth of total world population. It is obvious how strong will this population (mainly comprised of young people) be when it is educated well. Growth rate of OIC members between 2003 and 2006 was 5.9 percent, and this is above world average. Their export figure exceeded 1 trillion USD, and constituted 10 percent of world export. Also they have reached 8 percent of world import with a figure of 865 billion USD. Nearly 70 percent of world energy reserves is controlled by OIC members. All these clearly demonstrate the power of OIC countries."
Tuzmen said that Turkey attaches utmost importance to promote commercial and economic relations among Islamic countries, adding that Turkey fully supports Preferential Trade System to be established among these countries.
Noting that Turkey's foreign trade with OIC members is on the rise, Tuzmen said, "Turkey's foreign trade volume with OIC members in 2002 was a mere 11 billion USD. This figure exceeded 34 billion USD in 2006. We expect it to be more than 44 billion USD in 2007."
Tuzmen said that Turkish contractors have undertaken projects worth of 19.5 billion USD in foreign countries so far, adding that 75 percent of these projects were in OIC countries.