Intra-Trade, Investments In Muslim World To Grow Further

KUALA LUMPUR, July 17 (Bernama) -- Intra- trade and investments in the Muslim world is expected to grow further, particularly in areas of Islamic finance, halal products and services, information and communications technology, agri-business, oil and gas, tourism, education and manufacturing.

Deputy Finance Minister, Datuk Ahmad Maslan, said the economic growth in the Muslim world would result in new job openings and higher income for communities across the Muslim world.

"Future trade and investment flows will also be bolstered by the increasing connectivity and collaborative cooperation platform such as OIC World BIZ and Muslim World BIZ, Business and Investment Zone," he said in his opening address at the soft launch of the fifth OIC World BIZ 2014 here Thursday.

Presently, Ahmad said, the Muslim market was emerging as a new global target for international corporations, with a population of approximately 1.6 billion people, representing a huge market for trade and investment.

Notwithstanding the economic disparities, he said, there were immense opportunities for networking and trade linkages that events like OIC World BIZ and Muslim World BIZ could create and serve as global trade event for both Muslim and non-Muslim parties.

"The well-developed global Muslim communities will change the perception of the world, that Muslims are always stigmatised with poverty, underdevelopment and even terrorism.

"On that note, I would like to call other nations, corporations and business entities with their own means and capacities to participate and support this event, as it provides the opportunity to achieve our business goals in the long run," he added.

The fifth OIC World BIZ 2014, themed 'Towards Excellent Global Economies', expects to attract exhibitors and delegates from over 50 countries seeking business partners and potential investors.

The five-day event, starting Nov 10, will feature multiple components incorporated in the main event.

The event is organised by the OIC International Business Centre Sdn Bhd, with the cooperation of the Organisation of Islamic Cooperation, Islamic Centre for Development Trade and the Association of Muslim World Business Malaysia.

Chairman of the OIC World BIZ, Datuk Dr Raja Mohamad Abdullah, said the current trend showed that Muslims would make up 26.4 per cent of the world's total projected population of 8.3 billion in 2030.

"The European Union and Americas are very well aware of the Muslim world's economic development and its population growth. That is why more European, Americas and other non-islamic countries are into the Islamic products such as halal, sukuk and Islamic finance," he said.


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