JEDDAH, 11 February — The majority of member countries of the Organization of the Islamic Conference have failed to achieve the 4.2 percent world economic growth projected by the International Monetary Fund for the year 2000. These countries need to accelerate economic cooperation among themselves to face the growing challenges of globalization, an OIC conference was told yesterday.
OIC Secretary-General Abdelouahed Belkeziz told delegates from the 55-nation body meeting in Jeddah that slow progress in the implementation of an OIC plan of action on economic and commercial cooperation remained a source of "great concern" to the organization. He called for the creation of an Islamic common market to accelerate cooperation, and said fierce competition under the World Trade Organization and the instability in world financial markets further aggravated the economic problems of Muslim countries.
"We are all concerned and preoccupied with the slow progress in implementing the economic plan aimed at strengthening economic and commercial cooperation among our member countries," Belkeziz told the delegates attending the meeting of the OIC commission for economic, social and cultural affairs.
The commission, made up of member sates and OIC affiliate bodies, draws economic, cultural and social plans for OIC leaders to adopt at their summits. It began four days of meetings yesterday to review the progress of cooperation in these areas and endorse its plan of action for the next year.
The secretary-general underlined the role of Muslim women in economic, social and cultural development and called for the protection of the young through a united stand to combat subversive trends.
The delegates will review a number of working papers and reports on the economic situation in member states, including one discussing provision of economic assistance to some countries. The activities and financial status of subsidiary, specialized and affiliated institutions will be reviewed. They will also discuss the cultural strategy and plan of action for the Islamic world during the 21st century.
On the agenda is a proposal for the establishment of an international Islamic stock exchange union which will seek to coordinate, monitor and develop the stock markets of member states.
Another proposal calls for the establishment of a world authority for the Holy Qur'an whose objective would be tabligh (conveying) of meanings of the Holy Book and its tafsir (commentary) to the entire people in their local dialect and the establishment of worldwide Qur'an centers in capital cities for monitoring, printing, distribution and study purposes.
In a 50-page report on economic situation of OIC countries, the secretary-general said the extraterritorial application of domestic laws adversely affects foreign investments in other countries including the Islamic states. He rejected what he called coercive measures by some countries saying such practices impede economic cooperation.
The report noted that out of the 48 countries listed by the United Nations as least developed, 21 are Muslim countries with the problem further compounded by the fact that some of these OIC members are landlocked states.
The meeting will review a plan of action for science and technology that focuses mainly on food and agriculture, health, manpower, research and development, developing current and future technologies, energy and protection of the environment.
