Pakistan will host the three-day 2nd World Islamic Economic Forum starting November 5 here with the theme "Unleashing the Economic Potential" in collaboration with the World Islamic Economic Forum Foundation.
This was disclosed at a joint news conference addressed by chairman of the World Islamic Economic Foundation Tun Musa Hitam and minister of state for economic affairs Hina Rabbani Khar on Thursday.
They said key issues to be taken up by the forum are: Muslims economic renaissance, revitalising the OIC, promotion of Muslim solidarity in economic, social and political affairs, the role of Muslim leadership in a globalised world, the development of entrepreneurship and leadership qualities among youth and women, promoting inter-faith harmony, understanding trends in science and technology and Islam and the western world.
Keeping in view the forum's theme, deliberations at the event will also focus on exploring investment opportunities in tourism and infrastructure development, information, telecommunications and outsourcing, water, energy and resources and enhancing competitiveness of Muslim companies and businesses.
The forum will be attended by over 400 delegates from all over the world. Delegates include high-level government officials, business and economic leaders, besides some heads of states and governments.
Tun Musa Hitam said on the occasion, MoUs will be signed among four/five selected universities on research and development of different technologies and enhancing of training facilities in vocational, technical education.
"We are not meeting merely for business collaborations but we are actually saying that we are doing so in the context of a changing system: one that is increasingly favouring and accepting Islamic finance and services as an important component of the international financial system.
Thus, the forum acknowledges this underlying strength and advantage and offers participants with discussion topics that take into account this renewed vigour, unleashing the economic potential that is inherent in our emerging markets," Musa added. Hina Rabbani Khar said the forum will be a panel-oriented conference which will concentrate on exploiting the potential of emerging markets.
The first World Islamic Economic Forum was held in October 2005 in Malaysia and was attended by more than 600 participants, she said. "In today's energy-dominant economic order, it is important to ensure revenues from the vast oil and gas reserves found in Islamic countries are channelled into assisting sustainable economic development of other Muslim countries.
The forum will address this and other issues that promote cross-border trade, commerce and investment by providing a conducive ground for interaction and networking among government representatives, industry heads, regional experts, professionals and corporate managers," Hina added.
The event would be addressed by a host of distinguished personalities, including Prime Minister Shaukat Aziz and Malaysian Prime Minister Abdullah Ahmad Badawi. Similarly, President General Pervez Musharraf will join other global leaders in a special keynote leadership panel on "Muslim Leadership in a Globalised World".
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