ISLAMABAD, Nov 4: The second session of the three-day World Islamic Economic Forum (WIFE) will open here on Sunday with the theme of “unleashing the potential of emerging markets”.

The forum, being organised by the government of Pakistan and the Asian Strategy and Leadership Institute, is bringing together heads of state, business leaders, political elite, etc.

WIFE, founded in 2003 as the OIC Business Forum, is an independent organisation committed to improving the state of the Muslim communities by engaging leaders to shape the future world, ensure social and economic development and integrate Muslim communities into global economy. Renamed as WIEF in 2004, the forum has its secretariat in Kula Lumpur.

President Pervez Musharraf is scheduled to address the forum.

Prime Minister Shaukat Aziz, Malaysian Prime Minister Dato Seri Abdullah Ahmad Badawi, Sri Lanka’s former president Chandrika Bandaranaike Kumaratunga, former premier of Australia Bob Hawke and Saudi Arabia’s Petroleum and Natural Resources Minister Ali Al-Naimi will be other prominent participants of the forum.

The forum will discuss challenges facing the Muslim leadership, opportunities in infrastructure development, public-private partnerships, information, telecommunications outsourcing.

Organisers said that owing to its ‘strategic’ investment location and geopolitical role, Pakistan has emerged as an important player. They added that measures taken by the government such as economic reforms and privatisation process had created exciting opportunities for foreign direct investment in the country and boosted investor confidence, making Pakistan an ideal venue for the forum.