The Deputy Governor of the Authority for International Organizations and Agreements, Mr. Fareed Alasaly, participated in the preparatory meeting of the 40th ministerial session of the standing committee for economic and commercial cooperation of the organization of Islamic cooperation (COMCEC), on Saturday and Sunday, November 2-3, 2024, in Istanbul, Türkiye. 

The 40th Ministerial Session aimed to discuss the outcomes of the COMCEC working groups in enhancing trade and financial cooperation among member states, improving transportation and communication sectors, promoting sustainable tourism, increasing agricultural productivity and reducing poverty, cooperating in digital transformation, exchanging views on the digital transformation of payment systems in OIC Member States and Trade Preferences System (TPS-IO), and empowering the private sector.

The title of the current session is "Digital Transformation of Payment Systems in OIC Member States", which is a strategic step aimed at enhancing financial and trade efficiency in the region and contributing to sustainable development.

During the preparatory meetings, Alasaly noted the Kingdom's progress in digital transformation, reflecting the Kingdom's growing capacity to deliver integrated and rapid government services, which are highly efficient and technologically sophisticated, as outstanding electronic services are a key factor in promoting the business environment.

He added, this progress is a clear reflection of the great efforts of the wise leadership in the Kingdom, led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Royal Highness Crown Prince Mohammed bin Salman, in implementing the objectives of the Kingdom's Vision 2030.

The General Authority of Foreign Trade works to enhance the gains of Saudi Arabia of international trade, its international presence, and its participation in several international organizations to ensure the achievement of common goals and sustainable development. ​​