Baku: Regional integration is a practical mechanism for accelerating development, according to Issa Faye, Director General of the Global Practice and Partnerships Department of the Islamic Development Bank (IsDB). Faye made this assertion during a panel discussion titled 'Drivers of Regional Integration in IsDB Regions', held as part of the IsDB Group Annual Meetings 2026 in Baku.
According to Azeri-Press news agency, Faye emphasized that regional integration should be seen not just as a theoretical concept, but as a strategy that leads to tangible economic outcomes. He highlighted the importance of translating ideas into actionable solutions, transforming potential into prosperity, and turning cooperation into concrete action. Faye noted the meeting's significance, given the current global economic uncertainty, changing trade flows, and heightened geopolitical tensions.
Faye pointed out that global supply chains are undergoing transformation, with new trade corridors emerging and development challenges becoming more complex. In this context, he stressed that stronger regional cooperation is crucial for resilience, competitiveness, and sustainable development. He added that regional integration extends beyond interstate relations, enabling young entrepreneurs to access larger markets, facilitating cross-border business operations, and fostering connectivity through shared visions and policies.
He acknowledged that the level of regional integration among IsDB member countries remains below its potential, with intra-member trade accounting for only 20% of total trade, which is short of the 25% target set by the Organization of Islamic Cooperation. Faye identified infrastructure gaps and policy inconsistencies as factors limiting integration progress.
Faye remarked that there is no universal model for regional integration, as each region has unique characteristics. However, he noted that countries can achieve faster results by learning from one another's experiences. He reiterated that the IsDB views regional integration as a key tool for development acceleration and organizes its efforts around four priorities: increasing productivity, improving the investment climate, deepening trade and financial integration, and expanding regional public goods.
In conclusion, Faye urged participants to consider not only the benefits of regional integration but also the obstacles hindering its advancement. He posed a critical question: if the benefits of regional integration are widely recognized, what prevents progress? Identifying transformative actions to address this question, he asserted, is the main task ahead.