LAHORE: Pakistan is keen to enhance economic trade co-operation within the OIC member countries. The Muslim Ummah does need to achieve high level of development and prosperity as it has abundance of unexploited economic resources. However, it is lacking the will and the efficient usage of these resources.
This was stated by Minister for Trade and Commerce Khurram Dastgir while addressing the 2nd OIC-LCCI Trade Conference.
“We should discuss among ourselves candidly and openly the issues related to globalisation, economic liberalization, agriculture, environment, science and technology and of course, trade co-operation stands out as a priority area,” said Dastgir.
He said that existing intra OIC trade hovers around 16 per cent of the total OIC trade in the world which is far below than its real potential.
Pakistan’s total trade with the OIC countries stands around 40 per cent, he said, adding that in order to achieve the objective of higher regional trade within OIC Pakistan has been in the forefront in finalising the OIC preferential system.
“We believe this important initiative of market access will change the course of intra-regional trade in the foreseeable future,” he said.
Pakistan will welcome investment from the brotherly OIC countries especially in the field of energy, agriculture and food processing, human resource development, emerging halal food industry, trade and services and industrial sectors, the commerce minister stated.
“It requires us to bring in the forefront our private sector enabling our economies to play a vibrant roles,” he concluded urging the OIC countries to facilitate people of Muslim countries to explore economic potential.
