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Posted On: 13 December 2019 09:35 am
Updated On: 3 March 2020 12:00 pm

Qatar to host 14th World Islamic Economic Forum next year

Abdullah Amir
Abdullah Amir
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The State of Qatar will host the 14th session of the World Islamic Economic Forum (WIEF) in October next year, according to an agreement signed today between the Ministry of Commerce and Industry and the Forum that was established in Kuala Lumpur in 2005.

The agreement was signed by Nasser Mohammed Al-Mohannadi, Director of the Financial and Administrative Affairs Department at the Ministry of Commerce and Industry, while it was signed for the International Islamic Economic Forum Foundation, by Syed Abu Bakr Al-Mahdar, Managing Director of the World Islamic Economic Forum Foundation (WIEF).

The Forum aims to enhance the economic well-being of Islamic peoples and communities in different countries of the world by expanding the movement of trade and investment exchanges among them, as well as encouraging dialogue and strengthening cooperation between businessmen around the world, in order to contribute to strengthening bridges of communication between Islamic countries and others to achieve peace and prosperity for the whole world.

The Forum brings together heads of government, businessmen, researchers, academics, regional experts, specialists and managers of global companies to discuss opportunities to build new business partnerships between Muslim and non-Muslim societies around the world.

The Forum also seeks continuously to reach a consensus on practical and innovative methods that help meet the social and economic needs that affect Islamic and non-Islamic societies.

On this occasion, Nasser Mohamed Al-Mohannadi, Director of Financial and Administrative Affairs Department at the Ministry of Commerce and Industry said: "We are pleased to host the 14th session of the World Islamic Economic Forum, which is one of the most important international platforms aimed at consolidating cooperation between all countries of the world and uniting their efforts towards achieving sustainable and comprehensive development. "

He added that "the State of Qatar hosting this global event reflects the position that our country has assumed as one of the most important parts of the Islamic economy in the region and the world, and we look forward to the forum's contribution to establishing strong and solid joint economic projects that support the intra-trade between Islamic countries, especially in light of the increasing expansion witnessed by the Islamic economic market. globally, where its volume is expected to exceed $ 3 trillion in 2023.

For his part, Musa Hitam, Chairman of the World Islamic Economic Forum Foundation, expressed his pleasure in hosting the 14th session of the World Islamic Economic Forum in Doha, at a time when the State of Qatar is achieving rapid growth, making it the most attractive destination for direct investment among the countries of the Gulf Cooperation Council.

He also noted that the economies of Islamic countries offer great opportunities for growth due to their enormous size and growing purchasing power.

"This session of the forum comes amid a sensitive and delicate global scene facing a host of major challenges, such as disputes over international trade policies, the tightening of global financial policies, economic risks and decision-making, in addition to what is known as destabilizing technology for markets," Hitam added.

The 14th session of the World Islamic Economic Forum is scheduled to witness, over three days, the organization of a number of bilateral meetings and complementary programs, in addition to organizing an accompanying exhibition that will, in turn, allow participating parties an opportunity to promote their brands and provide their products and services to visitors and participants.

Source: QNA
Image Credit: Qatar Tribune