ID :
122735
Tue, 05/18/2010 - 14:27
Auther :
Shortlink :
https://oananews.org//node/122735
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WIEF PLAYS SIGNIFICANT ROLE IN BOOSTING INTRA-TRADE BETWEEN OIC MEMBERS
KUALA LUMPUR, May 18 (Bernama) -- The Sixth World Islamic Economic Forum (WIEF) plays a significant role in boosting intra-trade between the Organisation of Islamic Conference (OIC) countries, says Malaysian Deputy Prime Minister Muhyiddin Mohd Yassin.
The forum will also further accelerate the intra-trade growth towards
achieving the OIC target of 20 per cent or close to US$250 billion by 2015, he
said.(US$1=RM3.225)
"This forum serves as a gateway to enable businessmen,businesswomen and
young leaders to promote trade and entrepreneurship through dialogue, networking
and economic collaboration," he said at the pre-opening of the pre-forum and
exhibition of the Sixth WIEF here Tuesday.
In 2005, OIC intra-trade in the form of exports only made up 13.6 percent of
its total exports or US$135 billion, while it increased to 16.7 per cent last
year, Muhyiddin said.
He pointed out that a total of US$3.4 billion in business deals were signed
between businessmen from countries who would never have had the opportunity to
do so,at the last WIEF in 2009.
He encouraged the WIEF to go beyond its original core function by
facilitating the provision of scholarships and internships to deserving
applicants, with the support of the private sector as well as undertaking a
capacity building programme.
Muhyiddin said young people comprising around 65 per cent of the Muslim
world, should exploit new and better business opportunities, that have emerged.
"You have a huge responsibility and a heavy burden to chart the destiny of
your countries in terms of economic progress and the well-being of all citizens.
"Governments generally are becoming more business friendly, as a matter
of economic policy, to create a more conducive environment for the conduct and
promotion of business," he added.
According to Muhyiddin, social entrepreneurship is now becoming popular in
the developed countries, and could be adapted to suit the situation in Muslim
nations.
He said the concept would allow women and young entrepreneurs to pursue
business ventures of choice, based on their most preferred social
aspiration.
"They could come up with a viable business model that addresses one aspect
of social improvement," he stated.
Muhyiddin urged participants of the forum to deliberate on the viability of
a private sector led "Social Entrepreneurship Foundation", similar to the one
established in Western countries, but catering to the special funding needs of
Muslim social entrepreneurs.
However, any such funding if provided, should be alongside wider business
and mentoring support, networking as well as training and development
opportunities, he said.
-- BERNAMA
The forum will also further accelerate the intra-trade growth towards
achieving the OIC target of 20 per cent or close to US$250 billion by 2015, he
said.(US$1=RM3.225)
"This forum serves as a gateway to enable businessmen,businesswomen and
young leaders to promote trade and entrepreneurship through dialogue, networking
and economic collaboration," he said at the pre-opening of the pre-forum and
exhibition of the Sixth WIEF here Tuesday.
In 2005, OIC intra-trade in the form of exports only made up 13.6 percent of
its total exports or US$135 billion, while it increased to 16.7 per cent last
year, Muhyiddin said.
He pointed out that a total of US$3.4 billion in business deals were signed
between businessmen from countries who would never have had the opportunity to
do so,at the last WIEF in 2009.
He encouraged the WIEF to go beyond its original core function by
facilitating the provision of scholarships and internships to deserving
applicants, with the support of the private sector as well as undertaking a
capacity building programme.
Muhyiddin said young people comprising around 65 per cent of the Muslim
world, should exploit new and better business opportunities, that have emerged.
"You have a huge responsibility and a heavy burden to chart the destiny of
your countries in terms of economic progress and the well-being of all citizens.
"Governments generally are becoming more business friendly, as a matter
of economic policy, to create a more conducive environment for the conduct and
promotion of business," he added.
According to Muhyiddin, social entrepreneurship is now becoming popular in
the developed countries, and could be adapted to suit the situation in Muslim
nations.
He said the concept would allow women and young entrepreneurs to pursue
business ventures of choice, based on their most preferred social
aspiration.
"They could come up with a viable business model that addresses one aspect
of social improvement," he stated.
Muhyiddin urged participants of the forum to deliberate on the viability of
a private sector led "Social Entrepreneurship Foundation", similar to the one
established in Western countries, but catering to the special funding needs of
Muslim social entrepreneurs.
However, any such funding if provided, should be alongside wider business
and mentoring support, networking as well as training and development
opportunities, he said.
-- BERNAMA
