The committee convenes annually at ministerial level in Istanbul under the Chairmanship of the President of the Republic of Turkey.
The organization defines its scope of cooperation by trade, transport, agriculture, tourism, poverty alleviation, and financial as well as private sector cooperation.
The COMCEC lists following objectives on its website:[1] The Trade Preferential System aims to promote trade among the Member States of the OIC by means of exchanging preferences.
It includes a Most-Favored Nation clause, providing that all states participating in the TPS-OIC receive equal trade advantages as the "most favoured nation" by the country granting such treatment.
The official website indicates a goal of 20% intra-OIC trade by the year 2015.