ISTANBUL, Nov 4: Kuwait’s Minister of Commerce and Industry Khalifa Al-Ajeel hailed the election of Kuwait to represent the Arab Group in the Bureau of the Follow-up Committee of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC) for a three-year term.

Speaking at the 41st COMCEC Ministerial Meeting held in Istanbul on Monday, Al-Ajeel expressed his appreciation to the State of Qatar for its leadership and dedicated efforts during the previous term.

The Minister praised COMCEC’s selection of the theme “Improving Export Strategies in OIC Member States”, noting its significance amid current global and regional economic and political challenges. “Experience has proven that a country’s success in boosting its exports is linked to its ability to diversify its production base and expand the range of exportable goods and services,” he stated.

He added that exporting is no longer a secondary or limited commercial activity, but “a cornerstone of growth and a vital engine for diversifying income sources and establishing a strong presence in global markets.”

Al-Ajeel emphasized that the member states of the Organization of Islamic Cooperation possess the resources and capabilities to become a formidable economic bloc if effectively utilized.

Highlighting Kuwait’s economic agenda, the Minister noted that the country is moving forward with confidence under its Vision 2035, which aims to diversify the economy and reduce dependence on oil by developing sectors such as industry, technology, and financial services. The goal, he said, is to increase non-oil exports and diversify national income sources.

He added that the vision also seeks to transform Kuwait into a regional and international financial and commercial hub by attracting investment, strengthening the role of the private sector, developing human capital, and enhancing infrastructure.

Al-Ajeel affirmed that Kuwait places economic diversification and export promotion at the core of its national strategy and that it adopts policies that enhance competitiveness in global markets. These efforts include boosting non-oil exports such as petrochemicals, food products, and manufactured goods, lowering export costs, and expanding into new markets through international trade agreements.

The Minister reiterated that Kuwait’s election to the COMCEC Bureau underscores the country’s active role within the OIC framework and its commitment to advancing economic cooperation and sustainable development among member states.