Iranian President Pezeshkian considers OIC’s potential untapped

Iranian President Masoud Pezeshkian has called on Muslim-majority countries to strengthen economic cooperation, arguing that their combined economic weight remains disproportionately low compared with their population and strategic position.

Speaking at the 40th International Islamic Unity Conference in Tehran, he said the 57 member states of the Organisation of Islamic Cooperation (OIC), spanning Southeast Asia to Africa, are located along vital sea and land routes and possess significant energy resources, young populations and large consumer markets, Caliber.Az reports, citing Al Jazeera.

According to Pezeshkian, the economies of OIC member states were worth about $9.2 trillion in 2024, accounting for just 8.3% of the global economy.

In his words, only 19% of exports from OIC member states remain within the group, with the majority going to countries outside the organisation.

Pezeshkian therefore called for greater trade and economic exchange among Muslim countries to strengthen cooperation within the OIC.

By Bakhtiyar Abbasov