Staff Reporter
Karachi
Muslim countries have enormous resources and potentials to succeed, but the task is to translate these potential into real asset. Promotion of economic linkage within the Muslim communities by creating opportunities could help generate greater flow of capital from within and beyond the Islamic world, this was stated by Sheikh Sultan Rehman Vice President FPCCI in webinar held at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Karachi Head Office, Regional Office Lahore and Capital Office Islamabad via Zoom link.
The webinar was organized by Sheikh Sultan Rehman Vice President FPCCI and attended by Amjad Rafi and Nasser Hayatt Magoo, Former Presidents Karachi Chamber of Commerce and Industry, Oniasa Zafar, Deputy Secretary, Ministry of Commerce, Bilal Khan Pasha Consul General of Pakistan in Turkey, Muhammad Hanif Bashir Commercial Counselor of Pakistan in Oman, Muhammad Salman Ali Trade & Investment Attache of Pakistan in Qatar, Khadim Ali Trade and Investment Attaché of Pakistan in Jordan, Fouzia Perveen Ch. Minister (Trade & Investment) of Pakistan in Indonesia and Mr. Rashid Imtiaz Commercial Secretary of Pakistan in Tajikistan, Aliya Jaffer, Assistant Secretary General Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) and Shabana Asif Sr. Vice President Women Chamber of Commerce and Industry,
In his remarks, Sheikh Sultan Rehman Vice President FPCCI stated that absence of unity and cooperation among the OIC Countries is a biggest challenge in the present uncertain political and economic situation in Islamic countries. He added that OIC which is the second largest bloc of the world represented one fourth of total land with 4.1 percent of the world population. While highlighting the statistics, he added that the collective GDP of OIC is US$ 6.5 trillion with average per capita income US$ 7,189. He further added that the intra-regional trade among the OIC Countries is 17.5 percent of total trade of OIC Countries while the intra-region FDI stood 2-3% of GDP. He also highlighted the World Islamic Economy figures that Muslim spent US$ 2.2 Billion on Food, lifestyle and tourism which is growing 5-6 percent annually which indicates the potentials of halal industry. While commenting on Pakistan relations with Muslim World, he stated that Pakistan has strong and significant relations with all Muslim nations at political level but these relations do not reflect in terms of trade volume despite the fact that there is huge potential of trade due to geographical proximity, religion and cultural ties, similarities and availability of natural resources.
