World Islamic Economic Forum Part II

Where the previous session in 2005 had closed with calls for OIC’s 57 nations to sign an Islamic free trade agreement and gain economic clout internationally, the current session began on Sunday, the 5th of November 2006 with calls for a “Muslim economic renaissance”, emphasising the need for integrated measures including an effective dispute resolution mechanism to resolve issues and problems within the Islamic World that can act as a basis for mutual cooperation.

The session is aimed towards emphasising the need for unity amongst the member states and policy changes relating not just to the economic but political and social reform as well. The crux lies in implementing measures to allow Muslim states to make up in terms of technological and IT-related skills. The goal of the WIEC has to be not individual recognition but the creation of an Islamic Economic Union. The process has to start by entering into multilateral free trade agreements as well as promoting the free flow of capital, labour, goods and services. Thre in lies the potential of our states be world-class capital markets to attract international capital, which would allow member states to finance growth and development.

In the global cenario in context of terrorism as well, the Forum needs to seriously explore as to why Islam has not been understood in its true light and spirit and address the perception issues with clarity and force. An open minded approach to the current day realities and adoption of a futuristic vision to resolve issues and problems is as important as needing to highlight the root-causes of extremism which breeds in the smouldering fires of injustice and resentment not only in Muslim societies but in all societies.

To be continued…

4 Comments so far

  1. TheRepublicOfPakistan (unregistered) on November 7th, 2006 @ 9:08 am

    To be honest every time I C all these leaders from all these Islamic countries in one place it reminds me of puppets reunion show or something. All they do is talk talk talk and the only time the do something is if it is OKed by Washington or someother western power. May be some day this will change. I hope it is in our life time (really doubt it thou)


  2. Talha (unregistered) on November 7th, 2006 @ 11:28 am

    Your analysis is going in the correct directions, as
    we are totally forgetting that Holy Prophet[PBUH] used to travel a lot for trade and stuff.

    I am anxiously waiting for whatever more you have to say.

    I am sure that the rest of the readers are inquisitive as well.


  3. 1967 (unregistered) on November 10th, 2006 @ 10:17 am

    What ever happened to part 3? The Islamic Economic Forum is over I guess, can we get out of the time warp please :$


  4. A for Apple (unregistered) on November 10th, 2006 @ 4:08 pm

    Jaded’s a bit busy in exams and all .. best wishes … we’ll wait for part III :>



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