The Islamic Chamber of Commerce and Development (ICCD) has inaugurated the European chapter of the B57+ initiative, aimed at strengthening economic partnerships between business communities of the Organisation of Islamic Cooperation (OIC) member states and their European counterparts. This was announced on November 2, 2026, in Istanbul, Türkiye, during the second edition of the Business Leaders Summit. The summit was organized under the theme "The Great Convergence," on the sidelines of the 42nd session of the OIC's Standing Committee for Economic and Commercial Cooperation (COMCEC).
The first activities of the new European chapter are expected to take place in Brussels in the coming weeks. The chapter aims to create a permanent framework for cooperation between economic operators of OIC member states and those in Europe. The Islamic Chamber has also expressed its desire to open an initiative office at the headquarters of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) in Brussels.
Abdullah Saleh Kamel, President of the ICCD, emphasized that the Islamic world possesses significant financial, natural, and human resources, as well as markets that can support its economic growth. However, he stressed the need to transform these assets into concrete investments, projects, and partnerships. Kamel highlighted the importance of industrial complementarity and logistical integration to consolidate supply chains, facilitate trade, and increase exports between member states.
The B57+ initiative, launched in 2025, brings together business leaders from the 57 OIC member states and their international partners. The initiative is based on three pillars: an annual business leaders summit, a week dedicated to resolving commercial disputes through mediation and arbitration, and the development of regional chapters, including the one inaugurated in Europe.
According to Kamel, the success of this initiative will be measured by the actual investments, projects, and partnerships implemented on the ground. The ICCD president emphasized the need for concrete actions to achieve the initiative's objectives. The B57+ initiative aims to promote economic cooperation and development among OIC member states and their international partners.
The launch of the European chapter of the B57+ initiative is expected to strengthen economic ties between European businesses and their counterparts in OIC member states. This move is seen as a significant step towards promoting economic cooperation and development between the two regions. The Islamic Chamber of Commerce and Development is committed to supporting the growth of economic partnerships between its member states and European countries.
The B57+ initiative has the potential to unlock new economic opportunities for OIC member states and their European partners. By promoting economic cooperation and development, the initiative can contribute to the growth of trade and investment between the two regions. The Islamic Chamber of Commerce and Development will continue to play a key role in supporting the implementation of the B57+ initiative.
Key points
- The Islamic Chamber of Commerce and Development launches European chapter of B57+ initiative to boost economic partnerships between OIC member states and European counterparts.
