Iran’s President Masoud Pezeshkian says the economic size of Muslim countries is small in comparison with their population and geostrategic location in the world, calling for more cooperation in the area, according to AlJazeera.

He was speaking at the 40th International Islamic Unity Conference Tehran.

The president says that 57 member countries of the Organisation of Islamic Cooperation (OIC), from Southeast Asia to Africa, were “at the heart of vital sea and land routes with energy resources, young populations and a large market”.

Pezeshkian stresses that the economy of these countries in 2024 would be about 9.2 trillion dollars, which would account for only 8.3 per cent of the world economy.

The president also says that only 19pc of the member countries’ exports stayed within the group, while the rest went to countries outside the OIC, calling for more trade within the Muslim nations.