The Conceptual Framework of International Trade Between Organisation of Islamic Cooperation (OIC) Countries

Abstract

This study makes a significant contribution to the international scholarly community by illustrating the conceptual framework of international trade among OIC (Organization of Islamic Cooperation) countries. It provides valuable insights into the impact of trade balance on economic performance. Employing a descriptive analysis approach, the paper meticulously describes the conceptual framework of international trade within the OIC context. Through an exploration of the determinants of trade deficits, this research sheds light on the policy dynamics influencing trade imbalances among OIC countries. The study particularly focuses on the influence of Foreign Direct Investment (FDI) and trade balance on economic growth, revealing their interconnectedness. Furthermore, this study expands the understanding of the relationship between trade balance and economic performance specifically within the OIC countries. By elucidating these connections, it offers valuable insights for policymakers, researchers, and practitioners seeking to enhance economic stability and growth in the OIC region. Overall, this research contributes to the international scholarly community by providing a comprehensive analysis of the conceptual framework of international trade in the OIC context, highlighting the significance of trade balance for economic performance. The findings of this study can inform future studies, policies, and strategies aimed at fostering sustainable economic development and prosperity among OIC countries.