lahore-President Mamnoon Hussain has said that the members of Organization of Islamic Countries (OIC) have great potential for economic cooperation with their immense natural and human resources but unfortunately, intra-OIC trade does not reflect this potential.
“LCCI 2nd OIC Trade & Investment Conference was a giant leap towards bringing the members of Organizing of Islamic Countries (OIC) in close proximity. Such initiatives would not only enhance trade & economic cooperation between the Muslim countries but would also pave way for progress & prosperity in the Muslim countries.”
President of Pakistan was speaking at the second LCCI OIC Ambassadors & Trade Conference here at a local hotel on Saturday. Governor Punjab Chaudhry Muhammad Sarwar, Federal Commerce Minister Khurram Dastgir Khan, Ambassadors, businessmen of OIC member and observer states, LCCI President Engineer Sohail Lashari, Senior Vice President Mian Tariq Misbah, Vice President Kashif Anwar, LCCI former Presidents, former Senior Vice Presidents, former Vice Presidents, Chairman of LCCI Standing Committee on OIC Hasnain Raza Mirza, Co-Chairman Mahmood Ghaznavi & Executive Committee Members were prominent in the massive gathering.
Director General Institute of Strategic Studies Dr Rasul Baksh Rais gave a detailed presentation on Common Muslim Common Market.
The Conference was aimed at identifying ways and means to promote trade among the OIC member states.
Syed Mamnoon Hussain said that role of the private sector must be emphasized for trade promotion & economic development and it has to be involved by the governments of OIC member states in their endeavors to achieve this goal. He said that there was a dire need of a centralized electronic data base on trade, investment policies & tariffs etc., and its sharing amongst the OIC countries. There may be frequent trade exhibitions and interaction amongst the Chambers and the governments of these Muslim brotherly countries.
He said that Pak-China Economic Corridor will usher in a new era of economic development for the whole region as it would not only benefit Pakistan and china but Middle East, Central Asian Estates and other neighboring countries as well.
He said that all efforts were being made to improve energy and security situation in the country that are the biggest impediment to foreign investment. It is not the GDP alone that would get a boost but the foreign investment would also increase considerably in next few years. He said that presently Pakistani merchandise was going to 216 countries but the 70 per cent of the total trade is with only 20 countries that should be expanded.
“It is the utmost desire of Pakistan that the trade among the OIC countries may flourish, I see it expand further and OIC Block being the second biggest bloc emerging as one big economic power on the economic map of the world. Pakistan wants unity amongst the Muslim countries as harmony is the key to every success. There may be differences amongst many Muslim countries, being an important member of the OIC, Pakistan wishes that all differences and disagreements must be resolved without involving alien forums. Negotiations are always the most effective methods for solving issues”, Mamnoon Hussain added.
He said that OIC member states have to increase their inter & intra trade. He said that groups like GCC, D-8, ECO and African Union could be more interactive within themselves and with the rest of the groups for a healthier economic activity.
He said that SMEs need to be developed further to maximum in the OIC countries while area of value addition should also be focused in particular. He said that trade of non-conventional items between the OIC member states could play a vital role in strengthening the economic ties.
In his address, Federal Commerce Minister Khurram Dastgir invited the investors of Muslim countries to initiate joint ventures with their Pakistani counterparts and take full advantage of investment-friendly policies of the present regime who was taking all possible measures to facilitate the stakeholders.
Governor Punjab Chaudhry Muhammad Sarwar, in his address, said that the LCCI has always played a very supportive role in the development of bilateral relations of Pakistan with the Muslim countries.  Governor Punjab stressed the need of women contribution in economic activities who were more than 50% of the world population. He said that Muslim countries must encourage their women to educate themselves and help add value to their respective economies.
Speaking on the occasion, LCCI President Engineer Sohail Lashari said that OIC is the second largest world forum after United Nations with an enormous market with colossal opportunities. He said that if there is unity and realization of collective power OIC can rise on the world map as an economic force.