Istanbul:Saudi Arabia is actively participating in the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), taking place in Istanbul, Türkiye, from October 31 to November 3, 2026.

According to Saudi Press Agency, the Saudi delegation is led by Deputy Governor for International Organizations and Agreements, Fareed bin Saeed Al-Asaly, from the General Authority for Foreign Trade. The session, themed 'Developing Effective Trade Financing Tools for Increasing Export in the OIC Member Countries,' focuses on innovative financing mechanisms to aid and enhance exports among member states.

The session also involves discussions on boosting intra-OIC trade, implementing agreements under the Trade Preferential System among the OIC Member States (TPS-OIC), and enhancing private-sector participation in trade and finance to seize investment opportunities. Additionally, it addresses development and economic challenges to improve the global competitiveness of member states' markets.

The Saudi delegation is collaborating with member states to develop recommendations and resolutions, exchange perspectives on the session's theme, and track the implementation of OIC economic and trade decisions and cooperation outcomes within the COMCEC framework. COMCEC, one of the OIC's four standing committees, was established in January 1981 in Makkah and includes 57 member states and five observer states across four continents. In 2025, trade between Saudi Arabia and OIC member states amounted to approximately $138.6 billion.