20000203

Islamic world

trade organisation

proposed

RECORDER REPORT

FAISALABAD: Pakistan Light Industrial Products Development Forum (PLIPDF) has demanded establishment of Islamic world trade organisation to provide equal opportunities to the underdeveloped and developing Muslim states to compete with the developed western countries in the international markets.

In a statement issued here on Wednesday, Hamad Sultan, convenor, PLIPDF, said that Muslims form 35 percent of the total world population with 65 percent of the mineral resources. Their share in world trade has dwindled from 15 percent in 1980 to seven percent in 1998 in spite of the fact that Malaysia and Indonesia have emerged as industrial giants in Asia.

He lamented that the share of the Muslim states stand at 4.4 percent of the world GDP whereas it is bearing the 25 percent load of the world debt.

Hamad Sultan was critical of the attitude of developed countries towards developing countries and said that under a deep-rooted conspiracy the Islamic countries are denied modern technologies. Out of 500 multinational companies none-belongs to Muslim World.

He was also critical of the measures to introduce zero rated tariff by the superpowers with ulterior motives to convert small developing countries into their markets and said that the Muslim World must take a unified stand to frustrate their evil designs.

In this connection, he proposed IWTO to pressurise developed countries to transfer new technologies to the developing countries.