Istanbul: The Sultanate of Oman, represented by the Ministry of Economy, participated in the 40th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organisation of Islamic Cooperation (OIC), which took place in Istanbul, Turkey, on Monday.
The delegation from Oman was led by Dr. Said Mohammed Al Saqri, Minister of Economy. During his address, he outlined the Sultanate of Oman's efforts in advancing digital transformation within the financial sector, highlighting its experience in the development and integration of payment systems with global standards.
He elaborated on the Sultanate of Oman's initiatives at the national level, including the implementation of a "three-year National Payment Systems Strategy (2026-2024)" aimed at promoting electronic payments and improving financial efficiency.
The Minister emphasized the Sultanate of Oman's dedication to fostering collaboration with OIC member states for the exchange of expertise and best practices in digital transformation, a key strategy for sustainable economic development in the region.
The ministerial session also deliberated on global developments and their impact on OIC member states. Additionally, the reports from various OIC institutions and working groups, covering areas such as intra-trade, financial cooperation, transport and communications, tourism, agriculture, and poverty alleviation, were scrutinized.
Furthermore, the member states engaged in discussions on the latest developments concerning the activation of the trade preference system among member states and the establishment of a list of privileged goods for countries aspiring to join the system.
