Common market only means for development of Islamic states

The primary objective of the Islamic Chamber of Commerce, Industry, and Commodity Exchange is to promote trade in the Islamic world by such means as establishing an Islamic Common Market. In order to implement projects undertaken by the nations of the Islamic Chamber, institutional arrangements are necessary to extract investment capital. Since the Islamic Chamber was established, the volume of trade between Muslim countries has increased steadily. Low trade volume between Muslim countries is not due to incompatibility and much potential exists for continuing trade growth. The Islamic Chamber serves as an intermediary between Islamic financial institutions and Muslim countries needing capital. A system of trade preferences should be adopted to promote trade between Muslim countries.