ANKARA, Jan 21: President Pervez Musharraf has called upon Muslim countries to focus on internal reforms and socio-economic development.

Addressing a banquet hosted in his honour by Turkish President Ahmet Necdet Sezer on Tuesday night in Ankara, he said: "Muslim countries face myriad challenges in the wake of 9/11. The gap of misunderstanding between the West and the Islamic world is widening".

The president said "Muslim countries should focus on internal reform and renewal through socio-economic development". They should shun extremism and promote moderation in their own interest, he added.

In Istanbul, speaking at a meeting hosted by the Foreign Economic Relations Board and Turkish-Pak Business Council on Wednesday, President Musharraf said that with a raft of positive economic indicators and its strategic location, Pakistan was fast emerging as the 'economic crossroad' of Gulf, South and Central Asia, and offered foreign investors a profitable outlet for their capital.

He said Pakistan was poised to benefit from its strategic location and become an attractive and secure destination for foreign investors and businessmen.

He asked prospective investors to take advantage of Pakistan's investment-friendly climate that promised huge returns on their investment. The president referred to the excellent political and diplomatic ties between Pakistan and Turkey, but added that these were not in consonance with their economic ties, with bilateral trade just around $200 million.

He gave the investors a bird's eye view of Pakistan's economy and the incentives it offered to foreign investors. Referring to the four years of economic reforms, he underlined improved governance and the country's sustained economic policies that offered most liberal investment regime in the region.

Listing salient features of the region's most de-regulated economy, he stated that foreign investors were allowed to hold 100 per cent ownership.

There were no restrictions on remittance of profits, dividends and repatriation of capital, he said, adding that special care had been taken to remove delays and red-tapism. He said the country had a well-qualified work-force to multiply dividends on such investment.

"The (country's) economy is at a take-off point," he said. On efforts to improve the country's investment climate, he said Pakistan had improved its regulatory framework and all the regulatory bodies had been given autonomy.

He said the country had strong laws to ensure protection to the foreign investment and in its 55-year of history, no investors had ever left Pakistan on account of lack of protection. He assured investors of the government's commitment for the security of investment, saying Pakistan had always met its obligations.-Agencies