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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

ICCIA session identifies priority sectors to diversify economy

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MUSCAT: The proceeding of the 25th general assembly meeting of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), hosted by the Sultanate represented by Oman Chamber of Commerce and Industry (OCCI), started on Wednesday and lasts for two days.


The opening ceremony was held under the auspices of Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, who welcomed the heads of unions and chambers at the Islamic countries and praised their selection of the Sultanate as a host for this meeting.


He highlighted a number of prioritised sectors for the Sultanate in its endeavours to diversify its economy in light of oil price drop.


He pointed out in his speech that the current 9th Five-Year Development Plan focuses on manufacturing industries, transport, logistics services, tourism, fisheries and mining sectors.


It also promotes the enabling sector namely the innovative finance and alternative energy.


He said the Sultanate has made many achievements in linking its ports on the Sea of Oman, the Arabian Sea and the Indian Ocean with the ports of the member’s states of the Organisation for Islamic Cooperation.


Sheikh Saleh Abdullah Kamil, Chairman of ICCIA, stressed the importance of enhancing reciprocal trade and pan-OIC trade.


He called for benefiting from the available investment opportunities in creating job opportunities for job seekers at these countries.


Said bin Saleh al Kiyoumi, Chairman of OCCI, said that the report issued by the Islamic Centre for the Development of Trade of the Islamic Cooperation Organisation points out that the value of reciprocal trade among OIC members has witnessed a remarkable increase during the period from 2005 to 2015 i.e. from $ 217 billion in 2005 to $ 878 billion in 2015, which means a growth by 223 per cent.


Refat Uglo, Chairman of the Turkish Chambers Union, said that OIC chambers and unions should take necessary measures to enhance the growth of economy and increase their contribution to the world GDP from the present 15 per cent.


Naji Jabaroof delivered the speech of the OIC Chairman and said that ICCIA statistics show that $8 billion have been spent to subsidise SMEs at the member states.


He pointed out that the tourism sector is one of the vital sector that can enhance the growth of national economies, especially OIC member states have great tourism potential.


He urged the private sector to benefit from the available business opportunities in this sector.


The meetings will cover a number of issues including the election of ICCIA board, approving a report on the 24th meeting for the OIC Board of Directors which was held in September 2016 in the Republic of Turkey.


The meetings will also approve the report of the 57th meeting of ICCIA Financial Committee, the auditor’s report for the year ending on December 31, 2016, approving the appointment of auditor for year 2017, approving the renewal of the ICCIA Chairman, board member, deputies, and chairman deputies for the new session 2017-2021. The meetings will also review a report on ICCIA’s Excellence Award Itqan. — ONA


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