JEDDAH — Sheikh Abdullah Saleh Kamel, president of the Islamic Chamber of Commerce and Development, affirmed that the Islamic world possesses the capital, resources, markets, and human capital needed to emerge as a more influential economic force. He emphasized that the real challenge lies in translating this vast potential into investments, projects, and partnerships that advance shared interests among Islamic countries. He made the remarks while addressing the opening session of the second edition of the B57+ Business Leaders’ Summit, organized by the Islamic Chamber of Commerce and Development under the theme "The Great Convergence: Catalyzing OIC Capital for Global South Resilience" in Istanbul. The summit was held on the sidelines of the 42nd session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), in the presence of Turkish Minister of Trade Dr. Ömer Polat. Sheikh Kamel announced the launch of the European Chapter of the B57+ Initiative, with its inaugural activities scheduled to commence in Brussels, Belgium, in the coming weeks. The initiative aims to build bridges of economic engagement and strengthen trade and investment partnerships between the business communities of the 57 member states of the Organization of Islamic Cooperation (OIC) and their European counterparts. Sheikh Kamel explained that the initiative, launched by the Islamic Chamber in 2025 under the direct supervision of Turkish Vice President Cevdet Yılmaz, seeks to bring together business leaders from Islamic countries and their counterparts worldwide, translating economic dialogue into sustainable projects, investments, and partnerships. He commended the support extended by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and its President Rifat Hisarcıklıoğlu for preparations to launch the European Chapter. He also expressed hope that an office for the initiative would be established at the union's headquarters in Brussels in the near future. Sheikh Kamel noted that the summit was preceded by specialized events focusing on resolving trade disputes through mediation and arbitration, with the participation of centers from Islamic countries, the UK, the US, and Canada. He emphasized that strengthening confidence in the business environment is a fundamental pillar for attracting foreign investment, particularly in less developed countries.The Islamic Chamber chief stressed that industrial and logistical integration among Islamic countries has become imperative to strengthen supply chain resilience, facilitate trade, and boost exports. He pointed out that the success of economic initiatives should not be measured by the number of meetings held, but rather by the scale of projects, investments, and partnerships successfully brought to fruition.It is noteworthy that the Islamic Chamber reaffirmed its ambition to transform the B57+ Initiative into a permanent platform for year-round collaboration among business leaders, ensuring that ideas evolve into initiatives and initiatives translate into projects, ultimately generating a tangible and sustainable economic impact. The B57+ Initiative operates through three principal platforms: the annual Business Leaders Summit, the Trade Dispute Resolution Program through Mediation and Arbitration, and the European Chapter, which is based in Brussels. Established in 1977 and headquartered in Karachi, the Islamic Chamber of Commerce and Development supports economic and trade cooperation among the OIC member states.
