FPCCI calls for stronger economic integration among OIC states

According to the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), economic integration among the 57 member states of the Organisation of Islamic Cooperation (OIC) remains underutilized despite a combined GDP of roughly $10.77 trillion. FPCCI President Atif Ikram Sheikh highlighted the need for enhanced trade, investment, and business partnerships between Pakistan and OIC countries during a recent statement.

Sheikh pointed out that OIC nations represent a vast economic market spanning four continents with a GDP of around $10.77 trillion in 2025. The group recorded approximately $1.7 trillion in exports and $1.6 trillion in imports, underscoring the enormous potential for more robust economic integration. Currently, intra-OIC trade accounts for just 20.36% of the total foreign trade of its member states.

Sheikh advocated for transforming Pakistan's connections with the Islamic world into stronger trade, investment, and business relationships. He underscored that Pakistan's strategic position, large consumer base, youthful population, industrial capabilities, and investment prospects under the Special Investment Facilitation Council (SIFC) offer significant opportunities for deeper economic engagement with OIC markets.

Specific sectors such as textiles, value-added products, agriculture, food processing, pharmaceuticals, engineering goods, minerals, information technology, halal products, tourism, logistics, and renewable energy were identified as areas for potential expansion. Sheikh emphasized that investment should extend beyond traditional trade to include joint ventures, technology collaborations, and regional value chains.

He called for increased business-to-business interaction, joint projects, and institutional ties between chambers and business organizations across the Islamic world to convert the region's economic potential into tangible trade, investment, and sustainable partnerships.