It plays a regular role in trade exchange and investment mechanism focused on economy promotion in the member states. It also maintains an environment support for its associated nations in obtaining access to global marketing, in addition to conducting negotiation with other international organisations, groups and enterprises in the field of trade.[3]
From June 21 to 23, 2021, the Islamic Centre for the Development of Trade launched a webinar on the state of play of multilateral trade negotiations at the World Trade Organization (WTO).[6][7]
In February 2022, the Moroccan Association of Exporters (ASMEX) and the Islamic Center for the Development of Trade (CIDC) signed a partnership agreement[9] to develop activities for the benefit of the members of this association,[10] to create partnership links between Asmex members and importers in other countries.[11][12]
In a conference organized on May 10, 2022, in Rabat, the Islamic Centre for the Development of Trade announces the holding of the 17th OIC Trade Fair which will take place from June 13 to 19, 2022, in Dakar under the high patronage of President Macky Sall from Senegal.[17][18]
In December 2022, the Islamic Development Bank and the Islamic Centre for the Development of Trade recently concluded a workshop on the digitization of services in investment promotion agencies in the Organization of Islamic Cooperation’s member states.
In March 2023, the Islamic Centre for the Development of Trade (CIDC), in collaboration with the Agency for the Promotion of Investments in Mauritania,[20][21] is organizing the second edition of the investment forum "Investment Days of the Islamic Center for the Development of Trade".[22][23]
Investment
The ICDT conducted several trade developments amounting $271.45billion in 2005 which increased to $878billion in 2015. The organisation, along with 57 member states made an investment of 223% of its total budget between 2005 and 2015. The United Arab Emirates ranks 1st in trade investment of $121.7billion roughly equivalent to 15.2%, while Turkey has spent $77.8billion roughly equivalent to 9.7%. Saudi Arabia has also contributed within the scope of organisation. It has made an investment of $74.3billion, which is roughly equivalent 9.3%.
Within the framework of its trade policy, it increases its investment from 18.7% in 2016 to 21.2% in 2018. The organisation witnessed a total increment of 13.5% between 2016 and 2018.[25]
Board of directors
The Board of Directors consists of 9 members, one of which represents the host country. These members are elected from a list of candidates provided by the Member States and serve for a period of three years. They have the option to be re-elected for an additional term. The principle of equitable geographical distribution is followed during the election process.
The Board of Directors is required to convene at least once annually. Their responsibilities include developing program policies and providing technical oversight for the activities of the Centre.
The members of the board of Directors for the period of 2022 to 2024:
