Pakistan has asked Islamic world to throw off economic inactivity which is hampering economic development in Muslim countries. Commerce Minister Khurram Dastagir Khan has urged the Islamic nations to put forth innovative ideas and advanced research to halt the economic inertia.
According to a press release, commerce minister made these remarks in Jakarta, Indonesia. The minister was representing Pakistan at the 12th World Islamic Economic Forum [WIEF]. The duration of the forum is 3 days i.e. from 2nd to 4th August 2016.
While addressing the audience, Khurram Dastagir stated:
“We are suffering not only from pervasive poverty of our people but also from the poverty of ideas on how to bring about an economic revolution to improve lifestyles of our people”
During his speech, the minister further added:
“We suffer from the poverty of ideas to facilitate our private sector within the OIC [Organization of Islamic Cooperation]. We suffer behind our borders, at our borders and beyond our borders”
More excerpts from the minister’s speech
The minister also emphasized on the demanding need for providing equal opportunities for Muslims. The rewards of economic growth should also spread to the tail-end of the economic strand. This is achievable if Islamic world empower future businesses by decentralizing growth.
Khurram Dastagir also made sure that Pakistan is committed to strengthening economic and trade cooperation ties between OIC member states. This will push the cause of economic amalgamation of Muslim nations and the formation of a common Islamic market.
Moreover, Pakistan had also signed the WTO Agreement on Trade Facilitation. It is a reflection of Pakistan’s commitment to a transparent, simple, deregulated and private sector-driven business environment.
Commerce minister also called for constant communication among policymakers and private sectors of the Muslim world. Furthermore, Pakistan also offered its complete support to the initiatives for liberalization of trade, investment and services.
Pakistan also requested the Islamic world to join hands for more extensive, technical and knowledge collaboration in other fields of the economy.
Participation of countries at the forum
Indonesia President Joko Widodo inaugurated the forum. Prime Minister of Malaysia Muhammed Najib Abdul Razak was also present at the forum. He is also the patron of WIEF Foundation. He made a special address to the representatives who were present at the forum.
Leaders and representatives of Algeria, Bangladesh, Guinea, Jordan, Kuwait, Nigeria, Qatar, Sri Lanka, South Africa, Tajikistan, Thailand, Vietnam, and Islamic Development Bank also spoke at the inaugural session.
Source: Express Tribune
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