FPCCI Calls for Stronger Economic Integration Among Islamic Countries Qurat-ul-Ain urges greater trade, investment and connectivity; TDAP Chief Executive Faiz Ahmed pledges government support

Karachi: Qurat-ul-Ain, Vice President of the Federation of Pakistan Chambers of Commerce &
Industry (FPCCI), has called for stronger economic integration among Islamic countries through
enhanced trade, investment, joint ventures, tourism and business connectivity, saying that the
combined economic potential of 57 Muslim countries offers enormous opportunities for
employment, investment and sustainable development.

Addressing the FPCCI Islamic Economy Summit with Diplomats, which she presided over, she
said Islamic countries should move beyond traditional bilateral trade and develop a more
integrated economic partnership based on business-to-business linkages, joint ventures,
investment partnerships, technology exchange and improved connectivity.

The Summit was held under the theme “Promoting Islamic Economic Integration through
Bilateral and Multilateral Cooperation for Community Development” and was attended by
Consuls General, Commercial Counsellors and representatives of Islamic countries, business
leaders, financial institutions, academia and other stakeholders.

Chief Guest Faiz Ahmed, Chief Executive, Trade Development Authority of Pakistan (TDAP),
said that the government would fully support efforts to strengthen economic cooperation among
Muslim countries, stressing that trade among Islamic countries must become a key focus. He
said Pakistan needed to further strengthen its economic linkages with Muslim countries and
enhance trade and business connectivity with OIC member states. He emphasised the
importance of creating an enabling environment for increased trade, investment and
private-sector cooperation among Islamic economies. Referring to intra-OIC trade, he said trade
among OIC member countries had reached around US1𝑡𝑟𝑖𝑙𝑙𝑖𝑜𝑛𝑖𝑛2024, 𝑐𝑜𝑚𝑝𝑎𝑟𝑒𝑑𝑤𝑖𝑡ℎ𝑈𝑆884
billion in 2023. He noted that intra-OIC trade accounted for around 20.36 percent of total foreign
trade of OIC countries in 2024, while the OIC has set a target of 25 percent.

Dr. Mirza Ikhtiar Baig, MNA, said Pakistan possessed significant potential to become a major
exporter of halal food, meat, pharmaceuticals, cosmetics and other halal-certified products to
Muslim markets. He said Pakistan’s established textile and garment industry could further
expand exports to Islamic countries through competitive pricing, better branding, value addition
and compliance with international and halal standards. He also highlighted opportunities in rice,
fruits, vegetables, seafood, meat, livestock and processed food, particularly in Gulf markets, as
well as pharmaceuticals and healthcare products in developing Muslim countries. He stressed
the need to improve international certifications, regulatory compliance and branding to capture a
greater share of these markets.

Sheikh Yousef Hassan Khalawi, Secretary General of the Islamic Chamber of Commerce and
Development (ICCD), emphasised the need to promote economic connectivity and economic
tourism through innovative approaches. He stressed the importance of stronger institutional and
private-sector cooperation to transform the economic potential of Islamic countries into practical
business opportunities.

Ahmed El Wakil, Vice President, ICCD and President, Bank Al Baraka, highlighted the role of
Islamic financial institutions in facilitating investment, trade and economic partnerships among
Islamic countries, stressing the importance of developing financial mechanisms to support
businesses and cross-border investment.

Muhammad Irfan Ahmed, Head of Shariah Compliance, BankIslami, highlighted the growing
importance of Shariah-compliant financial instruments in supporting trade, investment, SMEs
and productive sectors of the economy.

Prof. Dr. Irum Saba of IBA shared her perspectives on Islamic finance, financial inclusion and
the need to strengthen knowledge, research and human capital to support the development of a
modern Islamic economic ecosystem.

Ambassador Fawad Sher, Permanent Representative of Pakistan to the OIC, and Irfan Soomro,
Director General, Ministry of Foreign Affairs, stressed that Islamic countries possess
complementary resources, markets, investment opportunities and human capital, but stronger
institutional mechanisms are required to connect these strengths. They highlighted the potential
for greater cooperation in trade facilitation, investment, Islamic finance, agriculture and food
security, tourism, technology, education and business mobility.

The Summit, attended by representatives of diplomatic missions from Afghanistan, Azerbaijan,
Bangladesh, Oman, Maldives, Iran, Indonesia, Côte d’Ivoire, Malaysia, Thailand, Mauritius,
Türkiye, the UAE, Sri Lanka, Uzbekistan and Jordan, also emphasised the importance of
developing joint ventures and regional value chains, particularly in halal food, agriculture and
agro-processing, textiles and garments, pharmaceuticals, technology, energy, tourism, logistics
and manufacturing.

FPCCI reiterated its commitment to providing a platform for government institutions, diplomatic
missions, chambers of commerce, financial institutions, academia and the private sector to
identify practical opportunities and develop follow-up mechanisms for stronger economic
engagement with Islamic countries.

The Summit concluded with a call for translating dialogue into concrete trade and investment
initiatives, business linkages and joint ventures, with greater participation of the private sector in
shaping a stronger and more integrated Islamic economic partnership.

Brig Iftikhar Opel, SI (M), Retd.

Secretary General