FPCCI Urges Stronger Economic Ties with Islamic World

KARACHI: Pakistan’s economic engagement with Islamic countries should move beyond conventional trade in goods and increasingly focus on joint ventures, technology partnerships, investment and regional value chains, said Atif Ikram Sheikh President Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

Sheikh has called for stronger economic integration among Islamic countries through enhanced bilateral and multilateral cooperation, trade partnerships, investment and joint ventures.

Speaking ahead of the upcoming FPCCI Islamic Economy Summit with Diplomats, scheduled to be held on October 7, 2026, at Federation House in Karachi, Atif Ikram Sheikh said Pakistan should transform its relations with the Islamic world into stronger and more sustainable trade, investment and business partnerships.

He said the 57-member Organisation of Islamic Cooperation (OIC) represents a vast economic market spread across four continents. According to him, OIC member countries had a combined gross domestic product of around $10.77 trillion in 2025, while their exports stood at approximately $1.7 trillion and imports at around $1.6 trillion.

The FPCCI president said intra-OIC trade had reached approximately $1 trillion, accounting for around 20.36% of the member states’ total foreign trade. He noted that despite the significant volume of economic activity among OIC countries, considerable potential remained untapped.

He stressed that greater economic integration could be achieved by improving trade facilitation, connectivity, financial linkages and cooperation between private-sector institutions. He said closer economic ties among Islamic countries could help businesses gain access to new markets while encouraging investment and technology transfer.

Atif Ikram Sheikh said Pakistan had considerable potential to expand its economic engagement with OIC markets across a wide range of sectors. These included textiles and value-added products, agriculture and food processing, pharmaceuticals, engineering goods, minerals and mining, information technology, halal products, tourism, logistics and renewable energy.

The FPCCI president highlighted Pakistan’s strategic geographical location, sizeable consumer market, young population and industrial base as important advantages for attracting investment from OIC countries. He also pointed to investment opportunities available under the Special Investment Facilitation Council (SIFC).

He called for greater business-to-business engagement and joint investment projects, along with stronger institutional linkages between chambers of commerce and business organizations across OIC member states.

According to Atif Ikram Sheikh, the upcoming Islamic Economy Summit will bring together representatives of diplomatic missions, commercial offices, government institutions, financial organizations, chambers of commerce and leading business groups.

The summit is expected to identify practical opportunities for expanding trade and investment between Pakistan and OIC countries, while also exploring potential joint ventures and business partnerships.

He said FPCCI intended to use the summit to develop practical and actionable proposals for strengthening Pakistan’s economic relations with OIC countries. These proposals would subsequently be pursued with relevant ministries, government institutions, diplomatic missions and private-sector stakeholders.

“The Islamic world possesses enormous economic resources and markets. Our objective should be to convert this potential into greater trade, investment, joint ventures and sustainable business partnerships,” Atif Ikram Sheikh said.

He added that stronger economic cooperation among OIC countries could create new opportunities for businesses, promote investment flows and contribute to sustainable economic growth across the Islamic world.