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MAKKAH, Dec 8 (UNB) : Prime Minister Khaleda Zia Wednesday called for striking a framework agreement for establishing a Preferential Trade System among the OIC member-states that could lead to a Free Trade Area (FTA) for economic integration of the trouble-stricken Muslim world.
Addressing the inaugural session of a two-day Extraordinary Summit of OIC at Al Safa Palace, she urged the member-states to sign and ratify urgently the existing agreements to promote trade and investment.
" We believe that the target of intra-OIC trade reaching 20 per cent of the total trade of the OIC countries by 2015 is achievable given our sincere efforts," Khaleda told the leaders of both rich and poor Muslim countries.
The Prime Minister felt that establishment of International Islamic Trade Finance Corporation and the wider use of the Islamic Corporation for Insurance and Export Credit would contribute to the expansion of intra-OIC trade. The resource base of IDB also needs to be expanded, particularly in the field of trade promotion.
Seeking urgent cooperation in three key areas of capacity building, poverty alleviation and disaster relief, she called for a strong support to the programme of Capacity Building for Poverty Alleviation in the least developed and low-income states in the forum.
Khaleda also made a number of other proposals, including establishment of a concessional fund with sizeable resources for poverty alleviation, OIC Emergency Relief Fund, International Zakat Fund and strengthening Islamic Solidarity Fund.
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