Economic Impacts of the Covid-19 Pandemic on OIC Countries

Background
According to the SESRIC COVID-19 Pandemic Database, more than 1.2 million confirmed cases and more than 28 thousand fatal cases have been reported in 56 OIC member countries as of 16 June 2020. The COVID-19 pandemic disrupted normal economic activity and daily life across the world. However, early evidence indicates that the social, health and economic impacts of the virus are being borne disproportionately by the poor and disadvantaged around the globe.

The OIC member countries are not immune to the waves of socio-economic shocks caused by the pandemic. Like many other countries around the world, the OIC member countries have started to witness the adverse and disproportionate effects of the virus on their economies and societies. The COVID-19 outbreak affected the societies and economies of OIC countries through a number of channels. While major disruptions in the global supply chains are observed as a result of the pandemic, preventive measures to contain the outbreak has led to further interruptions in economic activities. Falling commodity prices and financial market turmoil due to growing uncertainties caused significant fall in asset prices and stock markets, further exacerbating the economic impacts and lowering average income levels.

Objectives
SESRIC has recently released a report titled “Socio-Economic Impacts of COVID-19 Pandemic in OIC Member Countries: Prospects and Challenges” to highlight the potential impacts of COVID-19 pandemic on OIC member countries in various socio-economic fields and areas. The Webinar aims to present the main findings of this report regarding the economic impacts of COVID-19 and discuss the challenges and opportunities with a wider audience. Thereby, it is expected to provide an opportunity for various stakeholders to engage in discussion on various issues and challenges faced by the economies of the Islamic countries, taking into account their specific vulnerabilities in terms of economic structures and current integration patterns to the world economy.

Time and Venue
The Webinar will take place on Wednesday, July 1, 2020 at 02:00 pm – 03:40 pm (GMT+3 – AST – EEST). The Webinar will be livestreamed via SESRIC’s YouTube Channel.

Target Audience
The Webinar primarily targets experts, professionals and academicians from OIC member countries. It will be, however, free and open to all interested persons.

Organizer
The Webinar will be jointly organized by the Statistical, Economic, Social Research and Training Centre for Islamic Countries (SESRIC), Center for Middle Eastern Studies (ORSAM) and OSTIM Technical University.

Event Language
The event will be in English only.

06 July 2020

02:00 – 02:15  Opening Statements

- H.E. Mr. Nebil DABUR, Director General, SESRIC

- H.E. Prof. Dr. Murat YULEK, Rector, OSTIM Technical University, Ankara

- H.E. Prof. Dr. Ahmet UYSAL, President, ORSAM                    

02:15 – 02:30  Presentation of the main findings of the SESRIC Report

Mr. Mazhar HUSSAIN, Director, Economic and Social Research Department, SESRIC

02:30 – 03:15  Panel Discussion

Moderator   
Prof. Dr. Murat YULEK, Rector, OSTIM Technical University, Ankara

Panellists Speaker
Prof. Dr. Habib KABIR (Head of the Institute of Energy and Environment, Islamic University of Technology)
Prof. Dr. Hasan MANDAL, President of TUBITAK, “Corona and Technological Development in Turkey and the Muslim World”
Prof. Dr. Erdal Tanas KARAGÖL, Ankara Yıldırım Beyazıt University (The Economic Impacts of Corona Pandemic in the Muslim World: Challenges and Prospects)

03:15 – 03:35  General Discussion (Q & A)

03:35 – 03:40  Closing Remarks (by the Moderator)

Webinar
Live stream VIA Sesric Youtube Channel: https://bit.ly/sesric-live