WIFE to enhance economic cooperation

[LRE]

WIFE to enhance economic cooperation



Commerce Reporter

LAHORE: The 5th World Islamic Economic Forum (WIEF) concluded with commitment to promote greater inter-governmental and public-private collaboration to foster intra-OIC economic cooperation and trigger role of Islamic countries in the global economy.

This was stated on Wednesday by Tariq Sayeed, former President, FPCCI who is also a member of International Advisory Panel (IAP) of the World Islamic Economic Forum (WIEF) on his return home after attending the IAP meeting chaired by Prime Minister of Malaysia,Abdullah Ahmad Badawi, which adopted Jakarta Declaration after concluding of 5th WIEF in Jakarta on Tuesday evening.

"We recognized that the recovery from the unprecedented current economic crisis, which has affected all nations, will require a concerted global effort through greater inter-governmental and public-private collaboration," said the declaration.

The declaration said it supports the efforts of the Organization of Islamic Conference (OIC) to accelerate greater regional economic cooperation through the effective implementation of its 10-year Plan of Action, supports the Islamic Development Bank Task Force to promote Islamic Finance and Banking as a viable alternative to the conventional financial system, calls for effective regulations in the global financial industry to mitigate risk and failure.

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