The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has called for stronger economic integration among Islamic countries through expanded trade, investment, joint ventures, tourism and business connectivity. Qurat-ul-Ain, Vice President of FPCCI, said the combined economic potential of 57 Muslim countries presents significant opportunities for employment, investment and sustainable development.
Addressing the FPCCI Islamic Economy Summit with Diplomats, which she presided over, she urged Islamic countries to move beyond traditional bilateral trade and build stronger economic partnerships through business-to-business linkages, investment cooperation, technology exchange and improved connectivity.
Held under the theme “Promoting Islamic Economic Integration through Bilateral and Multilateral Cooperation for Community Development,” the summit brought together consuls general, commercial counsellors, diplomatic representatives, business leaders, financial institutions, academics and other stakeholders.
TDAP Highlights Opportunities for Intra-OIC Trade
Chief Guest Faiz Ahmed, Chief Executive of the Trade Development Authority of Pakistan (TDAP), reaffirmed the government’s support for efforts to strengthen economic cooperation among Muslim countries.
He said Pakistan needed to expand its economic relationships with Muslim countries and improve trade and business connectivity with Organisation of Islamic Cooperation (OIC) member states. He also emphasised the importance of creating an enabling environment for trade, investment and private-sector collaboration.
Referring to intra-OIC trade, Ahmed said trade among OIC member countries reached approximately US$1 trillion in 2024, compared with US$884 billion in 2023. Intra-OIC trade accounted for around 20.36% of the member countries’ total foreign trade in 2024, while the organisation has set a target of 25%.
The figures underline the potential for expanding commercial relationships among member states and increasing the contribution of trade within the Islamic economic bloc.
Pakistan Urged to Expand Halal Product Exports
Dr. Mirza Ikhtiar Baig, MNA, highlighted Pakistan’s 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 increase exports to Islamic countries through competitive pricing, stronger branding, value addition and compliance with international and halal standards.
Baig also identified opportunities in rice, fruits, vegetables, seafood, meat, livestock and processed food, particularly in Gulf markets. Pharmaceuticals and healthcare products could provide further opportunities in developing Muslim economies.
He stressed that better international certifications, regulatory compliance and product branding would be essential for Pakistani businesses seeking to capture a greater share of these markets.
Islamic Chamber Calls for Stronger Economic Connectivity
Sheikh Yousef Hassan Khalawi, Secretary General of the Islamic Chamber of Commerce and Development (ICCD), emphasised the importance of economic connectivity and tourism in strengthening relationships among Islamic countries.
He called for innovative approaches and stronger institutional and private-sector cooperation to turn the economic potential of Muslim countries into practical commercial opportunities.
The discussion highlighted the need to develop business relationships that extend beyond conventional trade arrangements and support investment partnerships, tourism and cross-border economic activity.
Islamic Finance Seen as a Driver of Investment
Ahmed El Wakil, Vice President of ICCD and President of Bank Al Baraka, highlighted the role of Islamic financial institutions in facilitating trade, investment and economic partnerships among Muslim countries.
He stressed the importance of developing financial mechanisms capable of supporting businesses and cross-border investment.
Muhammad Irfan Ahmed, Head of Shariah Compliance at BankIslami, discussed the growing importance of Shariah-compliant financial instruments in supporting trade, investment, small and medium-sized enterprises (SMEs) and productive sectors of the economy.
Prof. Dr. Irum Saba of the Institute of Business Administration (IBA) shared perspectives on Islamic finance, financial inclusion, research and human capital development. She emphasised the need to strengthen knowledge and skills to support a modern Islamic economic ecosystem.
Together, these discussions underscored the potential role of Islamic finance in mobilising capital, widening access to financial services and supporting productive investment across member countries.
Pakistan’s OIC Representative Stresses Institutional Cooperation
Ambassador Fawad Sher, Permanent Representative of Pakistan to the OIC, and Irfan Soomro, Director General at the Ministry of Foreign Affairs, highlighted the complementary resources, markets, investment opportunities and human capital available across Islamic countries.
They stressed that stronger institutional mechanisms were needed to connect these strengths and convert economic opportunities into measurable outcomes.
Potential areas for cooperation included trade facilitation, investment, Islamic finance, agriculture, food security, tourism, technology, education and business mobility.
Improved coordination across these areas could help businesses identify partners, access new markets and develop commercial relationships across participating countries.
Joint Ventures and Regional Value Chains in Focus
The summit included diplomatic representatives from Afghanistan, Azerbaijan, Bangladesh, Oman, Maldives, Iran, Indonesia, Côte d’Ivoire, Malaysia, Thailand, Mauritius, Türkiye, the UAE, Sri Lanka, Uzbekistan and Jordan.
Participants emphasised the importance of developing joint ventures and regional value chains across sectors with opportunities for cross-border collaboration.
These sectors included:
- Halal food and agriculture: Food production, livestock, agro-processing and food security.
- Textiles and garments: Greater value addition, stronger export links and improved market access.
- Pharmaceuticals and healthcare: Expansion of trade in medicines and healthcare products.
- Technology and manufacturing: Knowledge exchange, industrial partnerships and business collaboration.
- Energy and logistics: Investment opportunities and improved regional connectivity.
- Tourism: Economic tourism and stronger links between participating markets.
The discussions highlighted the potential for closer cooperation between businesses, chambers of commerce, financial institutions and government agencies to develop regional supply chains and investment partnerships.
FPCCI Calls for Practical Trade and Investment Initiatives
FPCCI reiterated its commitment to providing a platform for government institutions, diplomatic missions, chambers of commerce, financial institutions, academia and private-sector stakeholders to identify commercial opportunities and develop follow-up mechanisms.
The summit concluded with a call to translate dialogue into concrete trade and investment initiatives, business linkages and joint ventures.
Participants emphasised that stronger private-sector participation, improved institutional cooperation and practical mechanisms for cross-border engagement would be important to building a more integrated Islamic economic partnership.
The discussions placed trade expansion, halal exports, Islamic finance, tourism and regional value chains at the centre of efforts to deepen economic relationships among Muslim countries and unlock opportunities for businesses across OIC markets.