Trade finance gap blocks OIC exporters from affordable funding

Trade finance gaps are preventing micro, small and medium-sized enterprises in Organisation of Islamic Cooperation member states from accessing affordable financing, according to Pakistan's Commerce Minister Jam Kamal Khan at the 42nd COMCEC ministerial meeting in Istanbul. Khan outlined five priority areas to address the issue, including harmonised regulatory frameworks, diversified financing instruments, Shariah-compliant trade financing, digital transformation of trade systems, and targeted support for women- and youth-led enterprises. He said these measures could strengthen export capacity and boost intra-OIC trade. The session focused on developing effective trade financing tools for exports. Khan also highlighted agriculture, food security, transport connectivity and private sector engagement as areas for collective action, urging COMCEC to ensure recommendations translate into measurable outcomes.