The Saudi delegation, headed by Dr. Majid Alkassabi, Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade, concluded its participation in the 40th ministerial session of the standing committee for economic and commercial cooperation of the organisation of Islamic Cooperation (COMCEC), on November 4–5, 2024, in Istanbul, Türkiye. 

The 40th Ministerial Session aims​ 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.

Alkassabi stressed the importance of enhancing economic cooperation and integration among Member States.

The Kingdom's participation comes from its significant belief in enhancing the member countries' Trade Preferential System (TPS), one of the pillars of (COMCEC). It stimulates and promotes inter-member trade and explores the pivotal opportunities and the system role that may play in increasing inter-member trade, especially as it is a core for inclusive trade partnerships among member countries.

Alkassabi met on the sidelines of the meeting and in the presence of the Saudi Ambassador to the Republic of Türkiye, Mr. Fahad bin Asaad Abu Al-Nasr and the Authority Governor, Mr. Mohammad Alabduljabar, the Turkish Trade Minister, Dr. Omar Bolat, Mr. Mohammed bin Hamad bin Qassim Al Abdullah Al Thani, the Qatari Minister of Commerce and Industry, Mr. ​Hassan El Khatib, the Egyptian Minister of Investment and Foreign Trade, and Mr. Atheer Al-Ghurairi, the Iraqi Minister of Trade.

His Excellency, participated in a forum and the Saudi Turkish Business Council, in the presence of more than (277) Saudi and Turkish companies, which is the most effective instrument that promotes economic and trade cooperation between the two countries, contributing to the acceleration of trade relations and diversification of investment areas, and building strategic partnerships in several vital sectors.