Iftikhar Ali Malik stresses urgent need to strengthen economic ties among OIC states

LAHORE, Aug 30 (APP): Former President of the SAARC Chamber of Commerce and Industry (SCCI), Iftikhar Ali Malik, on Sunday stressed the urgent need to strengthen economic cooperation among Organization of Islamic Cooperation (OIC) member countries, focusing on investment, trade, education, skills development, and human capital.

In a press statement issued here, he noted that the collective economic strength, resources, vast consumer markets, and rich human capital of OIC states offered immense opportunities for mutually beneficial investment partnerships and sustainable growth.

He said Pakistan’s private sector was eager to deepen economic engagement with brotherly Islamic nations by promoting cross-border investments, joint ventures, business-to-business (B2B) linkages, and technology sharing.

Iftikhar Ali Malik emphasized that robust institutional mechanisms were required to connect investors across OIC markets, facilitate smooth capital flows, and unlock new avenues for regional economic development.

He asserted that economic collaboration among Islamic countries must extend beyond traditional trade to cover investment in education, innovation, artificial intelligence, digitalization, and emerging technologies.

Highlighting the rapidly changing global economic landscape, he remarked that OIC nations could gain a competitive edge by sharing expertise, launching joint ventures, and investing heavily in knowledge-based industries.

He further called for strong partnerships between governments, financial institutions, universities, and private enterprises to align education and technical skills training with the demands of modern investors.

Concluding his statement, the veteran business leader highlighted that Pakistan’s strategic geographical location, young population, abundant natural resources, and expanding investment avenues present exceptional opportunities for investors from across the Islamic world.