The Minister of Economy and Energy Olgun Amcaoğlu attended the 39th meeting of the Permanent Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) held at the Istanbul Congress Centre.
During the meeting, Minister Amcaoğlu expressed the Turkish Republic of Northern Cyprus’s (TRNC) desire to collaborate with Islamic countries.
Addressing the 39th meeting of the Permanent Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), Minister Olgun Amcaoğlu expressed the TRNC’s happiness from being invited to such an important meeting.
He explained that the Turkish Cypriots have been engaged in a significant economic and social struggle since 1974.
Amcaoğlu stated that the Turkish Cypriots want to collaborate with Islamic countries, emphasizing the potential sale of products, especially in the context of halal food.
Referring to the Preferential Trade System Framework Agreement among the Member Countries of the Organization of the Islamic Conference (TPSOIC), which came into effect in 2002, Amcaoğlu urged its development to include the TRNC.
He highlighted that the special focus of this year is to ensure the implementation of the Preferential Trade System among Islamic countries.
Amcaoğlu also underlined that with the system already implemented by Türkiye, Iran, Jordan, Bangladesh, and Malaysia, trade between Islamic countries can now be conducted much faster and easier.
He also mentioned that countries such as Bahrain, Morocco, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia, and the United Arab Emirates are expected to join the Preferential Trade System in 2024.
Amcaoğlu suggested that the TRNC could also become a part of this system, thus opening the possibility of significantly increasing export opportunities.
Emphasizing the great opportunities presented by the “economic customs union” being newly established among Islamic countries, Amcaoğlu explained that high-value-added products from the TRNC could be sold under e-commerce without encountering any embargoes.
He stated that the ministry and the government are working intensively on this issue.
In conclusion, the TRNC Minister expressed gratitude to the Republic of Türkiye, which has always stood by the Turkish Cypriots, and thanked the Turkish Minister of Trade Ömer Bolat.