ISTANBUL, 26 November 2004 — Turkish president, Ahmet Necdet Sezer, stressed the need for Muslim countries to have a fair participation in world trade to minimize the income differences.
He blamed the world economic order for denying developing countries getting their share from the growing and diversifying world trade, but also said developing countries should know how to utilize their resources efficiently, reform and adopt good governance.
Addressing the last day of an economic conference hosted by his government to look into means for boosting trade exchanges among member countries of the 55-nation organization of the Islamic Conference, he called on the developed countries to revise their trade policies by observing the conditions prevailing in developing countries.
One of the most serious structural problems of the global economic system is that the developing countries can not get their fair share from the growing and diversifying world trade. At the root of this structural problem is also the inability of these countries to efficiently use their own resources.
The elimination of welfare differences between our countries and the developed ones requires that we change our administrative approach and adopt good governance which refers to a contemporary and participatory administration as our fundamental principle.
Almost 90 percent of bilateral trade of the OIC members is not done with fellow Muslim countries but with other world trade partners, with only 10 percent being trade exchanges among OIC members.
Stressing the need for fairer participation by Muslim states in world trade to minimize the income differences, combat poverty and ensure welfare and peace at the global level, the Turkish president said this would only come by these states focusing on bilateral trade and investment issues.
The conference was jointly organized by the Turkish government and the Turkish Chamber of Commerce and Industry to commemorate 20 years of the creation of the OIC Standing Committee on Economic and Commercial Cooperation (COMCEC) which is headed by the Turkish president.
Emphasis during the conference has focused on the establishment of a framework agreement for a Trade Preferential System among the OIC member states as the first comprehensive initiative toward liberalization of trade among these countries.
Viewed by OIC secretary-general, Dr. Abdeloushed Belkeziz, as a tool for opening up a new vista of opportunities for Muslim countries to come together for closer economic cooperation, the agreement has now seen the launching of trade negotiations among member countries. Belkeziz urged OIC members to sign and ratify the agreement as early as possible.
The president of the Turkish Chamber of Commerce and Industry, Rifat Hisarciklioglu, said Muslim countries are unable to develop and progress because the private sector has been marginalized in the decision making process and that for a greater part these countries have failed to come up with innovative locally designed solutions to their economic problems and relied on imported solutions.
“The economic performance of our countries does not reflect our aspirations. Muslim states have many opportunities and economic potentials but have failed to take a new shape because the business members are not being involved in the decision making process. The business sector should have been the owner of economic reform and progress. If Muslim countries are to progress they and should devise and implement their own solutions and not depend on outside ones that are not successful in the long run. It is time we stop complaining and come up with new and innovative ideas to overcome our problems,” he said.