Islamic Economic Forum seeks OIC support

Islamabad, Nov 7: The World Islamic Economic Forum (WIEF) has asked the Organisation of Islamic Conference (OIC) to provide full support to the forum for expanding business, investment and economic activities and cooperation in the Islamic countries.

The declaration, adopted at the conclusion of the three-day forum, said the OIC countries must continue their efforts for creating a conducive environment for business, investment and economic growth through regular dialogue, consultations and partnerships with the private sector.

Organised by the Pakistan government and the Asian Strategy and Leadership Institute, the forum brought together over 300 delegates from 67 countries and discussed challenges facing the Muslim leadership, opportunities in infrastructure development, public-private partnerships, information and telecommunications outsourcing.

Founded in 2003 as the OIC Business Forum, the WIEF is an independent organisation committed to improving the state of the Muslim communities by engaging leaders to shape the future world, ensure socio-economic development and integrate Muslim communities into global economy. Renamed as WIEF in 2004, the forum has its secretariat in Kula Lumpur.

The declaration also called for accelerated efforts for increasing regional and sub-regional cooperation leading to the establishment of an Islamic Free Trade Area (IFTA).

The WIEF reaffirmed its support for the World Islamic Business-women network, its programmes, achievements and its plan to set up a training centre for women entrepreneurs.

It also reaffirmed support for the WIEF Islamic Education Task Force and acknowledged its programmes. The forum supported the development of a WIEF Young Muslim Leaders forum and its proposed initiatives.

It recommended close collaboration and coordination with the Islamic Chambers of Commerce and Industry and other similar organisations to ensure non-duplication of efforts and activities.

The declaration expressed confidence that the implementation of forum's recommendations would lead to open new horizons for the Muslim world and result in sustainable economic cooperation, strong business partnerships, enhance mutual respect and international understanding.

It also hoped that the activities of WIEF will pave the way for accelerated economic development, sustainable growth and wealth creation, promote prosperity, social justice and peace.

The third meeting of the forum will be held at Kuala Lumpur, Malaysia from May 7-9 next year.

UNI