This study aims to address the growth of regional economic cooperation in developing countries. Regionalism today, is increasingly showing an intellectual challenge in the study of international relations which is mostly determined by economic advantage and political change in the Southern Hemisphere. The emergence of trading blocs cannot be understood in economic terms; rather the resurgence of regionalism will play a significant role in the nature and evolution of the world economy in the 21 th Centurt and beyond. Therefore, the future of regionalism , a sit is takign place on trading blocs dimensions amongst nation -states, offers a possibility of closer policy intregration among nations. These new regional trading blocs are coupled with deepening of economic integration which is manifesting itself in the European Union, is providing a strong stimulus for other countries to intensify collaboration at the supranational level. Realizing the inevitable growth of regional trading blocs in the international regimes, countries of the OIC Member states; ASEAN , GCC, ECOWAS, the Magrib Community , etc constitutes 56 member countries will serve as platform for inter regional trading system amongst its member states. This in turn, will contribute immensely towards poverty alleviation that is fast ravaging Muslim communities globally.