• Speech of His Highness Sheikh Sabah AL-Ahmed Al-Jaber Al-Sabah In the Economic Summit of the Standing Committee of Economic and Commercial Cooperation (COMCEC) – Istanbul – 9th November 2009
Speech of His Highness Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah
In the Economic Summit of the Standing Committee of Economic and
Commercial Cooperation "COMCEC" – Istanbul – 9th November 2009

In the Name of Allah, Most Gracious, Most Merciful

His Excellency Brother President Abdullah Gul,

President of the Friendly Republic of Turkey, and president of COMCEC,,,

Brothers Majesties, Excellencies and Highnesses,,,

His Excellency the Secretary General of the Organization of the Islamic Conference,,,

Their Excellencies the Ministers and Heads of Delegations,,,

Ladies and Gentlemen,,,

Assalamu Alikom Wa Rahmatullahi Wabarakatu...

I would like first to express my thanks and appreciation to the friendly Turkish government and people for their warm reception and generous hospitality since our arrival to this ingrained city, wishing the friendly country progress and prosperity.

I also wish to congratulate the honorable attendees in the occasion of the twenty fifth anniversary of the COMCEC ; the entity that continues to accomplish the ideal economic and commercial cooperation among the member countries, enabling us to materialize several programs, policies and projects, along that period.

Mr. President,
Last month, the friendly Turkish Government organized the meeting of International Monetary Organizations, which achieved a great success and proved to be a splendid evidence of its efficiency and distinctiveness of its professional capabilities in organizing such international meetings . It also embodied the leading role of the Turkish Government and its participation in elevating the economics of OIC members to the advancement levels we look forward to .

I’m quite confident that Your Excellency’s wisdom and experience shall lead this conference to success and the achievement of the noble goals we all anticipate.

Mr. President,
It is a good fortune that the twenty fifth meeting of the COMCEC this year coincides with the generous initiative of the friendly Turkish government of organizing an economic summit in celebration of the COMCEC silver Jubilee. The summit will work on eliminating the hindrances and handling the obstacles that intercept Joint Islamic work, the achievement of economic integration we all look forward to, among our Islamic states and shall deal with our economic issues like the international economic crisis, the food crisis and power concerns.

In this occasion, I would like to commend the eminent role of the Turkish government, along the past twenty five years, in improving the COMCEC performance, which enabled COMCEC to achieve advanced steps in economic and commercial fields, and supervising the execution of economic work plan, aiming at supporting and reinforcing economic cooperation among member countries. It provided commercial and credit facilities, and concluded several agreements that led to increasing the rates of mutual trade among OIC members, which increased, as statistics denote from 10% in year 2000 to 16.3% in year 2007 . This is what the ten –year program of the organization was keen to confirm as approved in Mecca’s exceptional summit held in the year 2005, despite all challenges and differences in financial systems and polices adopted by the member countries.

Mr. President,
The international crisis overran our financial markets, and its effects extended to affect all our economic sectors . Our efforts collaborated together for eliminating the effects of the crisis, headed by the COMCEC vital and active role in the level of our countries by reinforcing economic and commercial cooperation to confront the negative reflections of the crisis on the economies of the OIC members, and the mutual trade among them .What is optimistic in this concern is that positive indications started to come into sight, suggesting that world markets commenced to enter the phase of recovery, even in slow rhythm.

Mr. President,
Approving “ KOMCEC “ as a circle for Ministers of Finance and Economy, wherein they exchange the experiences and expertise of their countries in different international issues and their reflections on the Islamic world, like the issues of facilitation of trade and investment, the effect of food crisis on the economies of the OIC members and other respective issues, gives an obvious indication of the importance of the role played by the COMCEC.

In this occasion, I should commend the great effort exerted by the organizations operating within the frame of OIC, including the consortium of Islamic Development Bank, and different affiliated centers and specialized unions operating in the economic sector. I should also praise the decisions of COSMEC that reassured the importance of achieving regional economic integration as an indispensable step for establishing the Islamic Common Market .

Mr. President,
Out of the state of Kuwait’s ultimate belief in the vital role of the Organization of the Islamic Conference, and in the COMCEC achievements on the level of communication and coordination among its member countries, and in support of this role, the state of Kuwait hosted the Arab Economic, Social and Development Summit at the beginning of this year, wherein Arab countries emphasized the importance of improving investment climate, developing infrastructure in the Arab countries, and underpinning the opportunities of integration with international economy .

Kuwait took the initiative of establishing a fund for supporting small and medium projects with the capital of two billion US dollars, in which Kuwait participated with the amount of five hundred million US dollars, in achievement of integration among Arab countries.

Out of its keenness to support the Organization of the Islamic conference, and its affiliated and branching systems, Kuwait increased its participation in the budget of the Islamic Development Bank to 12% . Kuwait further interacted with Islamic initiatives through its support of the IDB’s international fund for eliminating poverty, and through its initiative of calling for the establishment of a fund for providing decent life for countries in need, with the capital of one hundred million US dollars, and its participation in that fund.

The state of Kuwait has never, and shall never save any effort for supporting joint action, either within the Arab or the Islamic frame .

In conclusion, I cannot but express my sincere gratitude and appreciation of your sincere and constructive efforts, wishing our works and efforts all the success for the good interest and sublimity of our Islamic nation .

Wa Assalamu Alikom Wa Rahmatullahi Wa Barakatu...



عربي French