The Muslim world, however else it is interconnected by history, culture and religion, largely doesn’t trade with itself today. In 2004, about a sixth of all imports and exports were traded within the Organisation of the Islamic Conference (with nearly all of its 57 member states being Muslim-majority countries); by contrast, after nearly a decade-and-a-half of the internal market, two-thirds of imports and exports were traded internally within the European Union. 
Currently the OIC is in the process of setting up a preferential trading system, which is to launched in 2009. It has set a modest target of increasing intra-OIC trade to 20% over the next ten years.
It’s a poignant indication of how insubstantial all this pan-Islamic rhetoric really can be sometimes.
 For the OIC, 16% of imports and 15% of exports were traded internally in 2004; for the EU-25, 65% of imports and 68% of exports were traded internally in the same year. These figures have been derived from Eurostat and SESRTCIC.