JEDDAH, 24 January Riddled with foreign debt and unable to benefit from the economic strength experienced by the world economy during the past two years, Muslim countries face significantly weakened prospects for future growth and need to integrate their economies to protect them from the negative aspects of globalization.
The proposal was contained in a report that has been the subject of debate by the Islamic Commission for Economic, Cultural and Social Affairs, a division of the 55-nation Organization of the Islamic Conference.
The commission yesterday concluded four days of meetings in Jeddah after discussing a host of issues. They ranged from economic aid to member countries and Muslim communities to cooperation in the field of tourism and environment.
The meeting also drew up a cultural strategy and plan of action for the Islamic world to initiate a meaningful dialogue among civilizations.
The recommendations will be forwarded to the annual conference of OIC foreign ministers in the Sudanese capital Khartoum next June.
OIC Secretary-General Dr. Abdelouahed Belkeziz, who submitted the report, said he was not comfortable with the slow pace of economic growth among OIC member countries.
He called for "rectifying inter-Islamic affairs before moving to counter external threats" and said Muslim states should strengthen their solidarity and interdependence to be able to confront domestic and outside challenges.
The report noted with concern the extraterritorial application of domestic laws which adversely affect foreign investments in other countries. It said Muslim states with external debt, especially heavily indebted low-income countries, remain a source of great concern.
Six out of the top 20 heavily indebted poor countries in the list of the World Bank and the International Monetary Fund (IMF) are OIC members.
The majority of the OIC member countries have already failed to achieve the target of economic growth projected by the IMF for the second year straight.
Out of the 48 countries listed by the United Nations as the least developed, 21 are Muslim countries — a problem further compounded by the fact that some of these are landlocked states.
The delegates reviewed the economic problems facing the Palestinian people under Israeli occupation and assistance to member countries stricken by drought and natural calamities.
The meetings underlined the role of Muslim women in the economic, social and cultural development of society and considered the convening of a conference of ministers in charge of women’s affairs in member countries to identify avenues for closer coordination and cooperation.
Member countries have been asked to take all necessary steps to protect children from dangers of the mass media and to direct them to programs that promote higher cultural and moral values.
