Erdogan urges Islamic cooperation to ease economic gloom

Turkish President Recep Tayyip Erdogan gestures as he speaks during a press conference on the sidelines of the G20 Leaders' Summit at Nusa Dua in Bali, Indonesia on Nov 16, 2022. (FIRDIA LISNAWATI / AP)

ISTANBUL – Turkish President Recep Tayyip Erdogan on Monday called for stronger trade and economic cooperation among Islamic countries amid growing concerns of a global economic recession.

Expectations of a (global) recession are rising worldwide, indicating that the light at the end of the tunnel is yet to appear … Advancing our trade and economic cooperation as the Islamic countries will contribute to the efforts to turn this crisis into an opportunity.

Recep Tayyip Erdogan, Turkish President

In an opening address to the 38th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC) in Istanbul, Erdogan said that the world's economic woes have yet to be over.

"Expectations of a (global) recession are rising worldwide, indicating that the light at the end of the tunnel is yet to appear," he was quoted by state-run Anadolu agency as saying.

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"Advancing our trade and economic cooperation as the Islamic countries will contribute to the efforts to turn this crisis into an opportunity," he added

The agenda of the ministerial COMCEC committee meeting includes improving transport and communications, developing sustainable and competitive tourism sectors, increasing agricultural productivity to ensure food security, and cooperation on digital transformation, according to media reports.

Turning to Türkiye's efforts to alleviate the global food crisis, Erdogan said "we believe that the extension of the Black Sea grain corridor agreement will alleviate the suffering … especially that of our African brothers."

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More than 11 million tons of grain and foodstuff were delivered to the international markets following the landmark deal signed in late July by Türkiye, Russia, Ukraine, and the United Nations. On Nov 19, the agreement was renewed for 120 days.