KAZAKHSTAN TO HOST 7TH WIEF NEXT YEAR

KUALA LUMPUR, Nov 2 (Bernama) -- Kazakhstan will host the seventh World Islamic
Economic Forum (WIEF) next year. Malaysia recently hosted this year's forum.

"WIEF has been growing steadily for the past six years, and we are very happy to
say that Kazakhstan is our first venture into a relatively new territory," WIEF
Foundation Chairman Musa Hitam told reporters after announcing details of the
upcoming event here Tuesday.

"Among the Commonwealth Independent States (CIS), Kazakhstan is the most
advanced, they are huge in terms of territory and rich in natural resources," he
said.

Most importantly, the country is trying to industrialise and diversify their
economy and to connect with the rest of the world, which they had not done in
the past, he said.

"Kazakhstan will play an important role, where it will attract interest of
neighbouring countries, and present business opportunities to all present at the
conference."

Musa said Prime Minister Najib Razak will be also bringing his own
delegation of officials to the conference, while parties from the private sector
interested in business opportunities will be invited to participate as well.

Themed "Globalising Growth: Connect, Compete, Collaborate", the three-day forum
will be held from June 7 to 9, 2011 at the Palace of Independence, in Astana,
Kazakhstan.

Speaking on the theme, Musa said that no country can develop unilaterally.

"Any country who wants to grow must go global, and if you are on your own, you
will never succeed, this is where globalising growth comes into the picture," he
said.

Discussions on Islamic finance would be part of the agenda, he added.

"There is so much yet to be developed for Islamic finance, it is still a work in
progress, and WIEF should contribute and get close to it, so that everyone can
truly realise the value of Islamic finance and banking," he said.

Kazakhstan Ambassador to Malaysia, Beibut B. Atamkulov was also present at the
event Tuesday.

"For the economy of Kazakhstan, this will be another door for investment
exchanges, setting up of joint-ventures, and collaboration between business
individuals," Atamkulov said.

He expects WIEF to be a good platform for sharing experiences where
important links between companies and business individuals can be made.

"For the last decade, the world has slowly shifted its attention to the Asian
region, and this will play an important role for developing Islamic countries,"
he added.
--BERNAMA