By KUNA,
Kuwait : Delegates of the Fourth World Islamic Economic Forum (WIEF) applauded Thursday “the generous commitment” of USD 100 million by His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for the establishment of a food security fund to assist the poorest within the Muslim.
In the “Kuwait Declaration” issued by the forum, the delegates said the initiative of His Highness the Amir of Kuwait could serve to alleviate hunger in the Muslim countries, build their capacity to achieve sustainable long term food security y investing in the production, storage and distribution of basic foodstuff.
It acknowledged the “gracious hospitality” of the Kuwaiti government for “hosting and ensuring the success of the Fourth WIEF.” The declaration affirmed belief that the spirit and objectives of the WIEF remained the effective promotion of sustainable economic development, growth and prosperity of the Muslim ummah by fostering cross-cultural business linkages and public-private partnerships and alliances both within the Muslim business community and with the rest of the world.
It noted the need for a shared vision of “hope, tolerance and mutual respect” in which the whole of the Muslim ummah would work to “seize the opportunity” to create a “fair economic partnership” between richer and poorer communities to “eradicate poverty, hunger and illiteracy.” It stressed the importance of “unlocking the unmet potential” of our markets by working together to “harmonize business, trade and investment regulation and practices.” It noted that achieving the Muslim countries’ “rightful place within the global economy” depended “not only on our natural resources but also on human resources,” adding that there was a need to promote secure, stable and safe environment for business investment.
Moreover, it said that there was a need to work with other to better use existing energy resources and to contribute to the development of more sustainable and environmentally friendly new energy resources.
As for values, it highlighted the need to “demonstrate in everything we say and do our Islamic values and work together to promote integrity and good governance.” The declaration confirmed support for and commitment to WIEF projects: the WIEF-UiTM International Center and its training, education and research and development programs; the WIEF Young Leaders Network, and the WIEF Businesswomen’s Network.
The delegates further agreed to support efforts of Kuwait Chamber of Commerce and Industry and the Islamic Chamber of Commerce and Industry to enhance linkages between the chambers of commerce and industry in the OIC countries with their counterparts in the Muslim world.
They also supported the initiatives of Kuwait Banking Association proposed at its inaugural forum for the development of Islamic banking and Takaful insurance in both Muslim and non-Muslim countries.
Furthermore, the declaration recognized the importance of public-private dialogue and partnering to realize these aspirations and call upon the governments of the OIC countries and the Muslim ummah to work with their private sectors to ensure the successful implementation of the practical ideas and programs identified during the forum and to develop specific projects strengthening the vibrant SME sector.
They thanked the Malaysian government for its generous grant for the establishment of a permanent WIEF Secretariat and accepted the gracious offer of Indonesia to host the Fifth WIEF.