Nazarbayev suggests new economic strategy for OIC.

28/6 Tass 94

ASTANA, June 28 (Itar-Tass) -President Nursultan Nazarbayev of
Kazakhstan has suggested the drafting of a new economic strategy for the
countries, integrated in the Organisation of the Islamic Conference (OIC).
He spoke about it at the opening of the 38th session of the OIC Council of
Foreign Ministers here on Tuesday.
"We should pool efforts in working out effective mechanisms of
cooperation and mutual assistance in the implementation of trade,
investment, technological, social and educational programmes. It should be
a way of the manifestation of Islamic solidarity as the main principle of
our Organisation," he said.
Nazarbayev reminded that a major disbalance in economic development
could be observed between the OIC member countries. "The GDP (Gross
Domestic Product) figures differ by more than 100 times. The average per
capita value of GDP in the OIC countries is 9,500 dollars, while the
corresponding figure for the European countries exceeds 24,000 dollars,"
he said.
"The OIC countries control 70 per cent of the world's energy
resources, but they account for only 7.5 per cent of world GDP and for 11
per cent of world trade turnover. This situation is impermissible," he
stressed.