In a bid to boost connected trading opportunities between members of the 57-strong Organisation of Islamic Conference (OIC), Malaysian technology joint venture OICnetworks launch of the 'OICtrade' trade facilitation platform.
The inauguration of the website-based trading and commercial facilitation system by Acting President of the Islamic Chamber of Commerce and Industry, Abdulla Bin Rashid Al-Kharji, took place at the 9th Islamic Trade Fair 2002 in Sharjah.
According to a 2001 World Bank report, current trade levels among OIC member countries in 2000 stand at $813 billion representing a far cry of only 6.4 percent of OICnetworks aims to strengthen OIC trade volumes among member countries by eight billion dollars by 2005 through the inculcation and effective use of its Information and Communications Technology (ICT) infrastructure.
Incorporated in Kuala Lumpur through a joint venture between the Islamic Development Bank of Jeddah and MIMOS Berhad a Malaysian government-owned ICT company, OICnetworks offers value-added facilities to ensure the success of its trade platform.
More than 30,000 trade visitors from both OIC and non-OIC states are attending the trade fair from December 21-26 where the OICtrade platform is being shown for the first time in the Middle East. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
