The Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of the Islamic Conference (OIC) has concluded its 24th session in Istanbul, according to a press release of OIC issued in Jeddah yesterday. The five-day session, which wrapped up October 24, was attended by Turkish President Abdullah Gul and OIC Secretary General Professor Ekmeleddin Ihsanoglu. In his speech on the opening day, President Gul, who is also Chairman of COMCEC, highlighted the recent economic fluctuations experienced world-wide and emphasized the need to review the rules which govern the world economy and shared his appreciation that particular importance is given to direct investments by COMCEC under this year's theme of 'Improving Investment Climate'. In this regard, the Turkish President invited the OIC Member States which possess significant capital to increase investments in the less developed member states. He also underlined the need to direct attention to human development and stated that priority should be given to developing intellectual and entrepreneurial spirit in a bid to cater to the fundamental needs of society. --MORE
