A strategic trading block for Muslim nations under the auspices of the Organisation of the Islamic Conference (OIC) is possible, provided they are united.
Speaking at the Muslim World Biz 2011 gala dinner here in Kuala Lumpur, Minister in the Prime Minister’s Department, Tan Sri Nor Mohamed Yakcop, said despite being endowed with much of the world’s economic resources, Islamic countries are still poor and left behind.
OIC countries generate just 7.2% of the world’s GDP and 10.4% of global exports.
“We must take cognizance that the past lacklustre performance of Islamic nations had, to a large extent, been due to the failure to develop consensus and teamwork.
“In this respect, we welcome the increasing connectivity and collaborative partnerships through economic cooperation platforms,” he said. (source)
