Home Foreign Report Identifies 20 Strategies For OIC Organs, Member States To Explore, Implement

Report Identifies 20 Strategies For OIC Organs, Member States To Explore, Implement

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Jeddah, – Rafi-uddin Shikoh, Managing Partner of DinarStandard has said that the 2022 Annual OIC Halal Economy Report has identified 20 strategies organs and member states of the Organisation of Islamic Cooperation (OIC) can explore and implement.The 2022 report, commissioned by the Islamic Centre for Development of Trade (ICDT) and produced by DinarStandard, a U.S.-based research, and advisory firm, was launched in Istanbul on Nov. 29, 2022 at an event attended by ministers of OIC member countries and representatives from OIC organs.The strategies have been grouped into five strategic categories, namely: national economic resilience building strategy; intra-OIC/south-south cooperation strategy; research and innocvation strategy; halal economy promotion and awareness strategy; and investment attraction and facilitation strategy.Shikoh said that the actionable strategies for national economic resilience building, include localising halal production and launching accelerator programmes, while the scheme for the intra-OIC/south-south cooperation strategy has to do with establishing economic partnerships and facilitating halal certifications.According to the managing partner, the research and innovation strategy should focus on emerging technologies and capacity building while the strategy for halal economy promotion and awareness, should aim at supporting the growth of Small and Medium Enterprises and conducting trade shows.He added that the investment attraction and facilitation strategy should look to establish investment promotion agencies and stakeholder collaboration.Shikoh said that sector-specific strategic and tactical recommendations for industry stakeholders and investors had been detailed within each chapter of the report.ICDT was established in Casablanca in 1984 as a subsidiary of the OIC.It is entrusted with the mission of promoting trade and investments in OIC.For close to four decades, the centre has strived to facilitate trade and investments across OIC countries by promoting halal economy products and services, developing partnerships and strategic alliances between stakeholders of member states, and helping to disseminate information on intra-OIC supply and demand as well as fostering best practices.In addition to organising seminars, forums, and conferences, ICDT follows up the trade negotiations on the Trade Preferential System among the OIC member states as well as the trade negotiations in the framework of the World Trade Organisation.It also conducts sector-based studies with the major aim of boosting trade among the OIC member states. (UNA-OIC/NAN) 

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