KUALA LUMPUR, Sept 20: The World Islamic Economic Forum, an inaugural gathering of political and business leaders being held here next month, is aimed at boosting economic links among Muslim communities, organizers said on Tuesday.

Indonesia’s President Susilo Bambang Yudhoyono and Pakistan’s Prime Minister Shaukat Aziz are slated to attend the event, which is being billed as the “Davos of the Muslim world” after the World Economic Forum held in Switzerland.

“The forum will allow the world to take notice of the potential which lies within the resources and capabilities of the Muslim markets,” organizing committee co-chair Mirzan Mahathir told reporters.

“This has the potential to become the mini-Davos for the Muslim world,” he said of the forum which will run for three days from October 1.

The reference to Davos, a gathering of global opinion leaders, reflects organisers’ hopes of building more business and finance cooperation among nations from the 57-member Organization of the Islamic Conference (OIC).

Mr Mirzan said non-OIC countries such as Australia and Britain have also been invited in a bid to market the potential of Muslim countries.

“The WIEF comes at a critical juncture in the history of the Muslim world. At a time when Muslim solidarity is urgently needed, there is also a vital need to reach out to the non-Muslim world and forge dialogues and partnerships,” he said.

Malaysia’s deputy foreign affairs minister Joseph Salang Gandum called for more alliances between Muslim nations to counter poverty and the disadvantages of the global trading system.

“While many countries have benefited from the multilateral trade talks under the ambit of the WTO, many in the developing world, including most of the Muslim countries, continue to be lagging behind,” he said.

“By forging stronger alliances between Muslim nations and with strong participation from the private sector from the wealthy Muslim nations, we could help the less developed or low-income Muslim nations develop their economies.”

A declaration from the forum on economic and business issues is expected to be handed to the OIC, which is currently chaired by Malaysia.

“Increasingly the OIC is not just looking at political issues but the state of the ummah (Muslims) from an economic standpoint,” Mr Mirzan told reporters.

“This is an opportunity for the business community, the Muslim business community particularly, to give their input,” he said.

The concept of a World Islamic Economic Forum emerged from an OIC meeting of business leaders held here in 2004 and organizers are hoping to make the event an annual affair, they said.

Organizers include the OIC, Malaysia’s foreign affairs ministry, Pakistan’s Islamic Chamber of Commerce and Industry, and Morocco’s Islamic Centre for Development and Trade.—AFP