OIC Countries to Enter Russian Market

• Russia has come in support of Organization of Islamic Cooperation countries (OIC) in their effort to enter the Russian market.

==> Background

• Russia’s trade turnover with OIC countries stands at about $75 billion, with exports accounting for about $58 billion. Imports from OIC countries total about $17 billion.

==> About the OIC

• Organisation of Islamic Cooperation is an international organization founded in 1969, consisting of 57 member states. It is the second largest inter-governmental organization after the United Nations.

• The organisation states that it is “the collective voice of the Muslim world” and works to “safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony“.

• The OIC has permanent delegations to the United Nations and the European Union.

Link: https://wt6q7.app.goo.gl/MzvPNbqBYnNb0NeG3

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