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RESOLUTION NO. 1/25-E
ON ECONOMIC PROBLEMS FACING THE ISLAMIC COUNTRIES. The Twenty-fifth Session of the Islamic Conference of Foreign Ministers (Session for a Better Future for the Peoples of the Islamic Ummah) held in Doha, State of Qatar, from 17 to 19 Dhul Quida1418H (15-17 March 1998), Recalling Resolution No. 1/8-E(IS) adopted by the Eighth Session of the Islamic Summit Conference in Tehran; Also recalling Resolution No. 1/24-E adopted by the 24th Islamic Conference of Foreign Ministers; Further recalling Resolution No. 6/24-E of the 24th Session of the Islamic Conference of Foreign Ministers, in which Member States were invited to reinforce Sub-Regional and Regional Markets and relaunch the existing economic integration projects among themselves; Having also considered with particular attention the results of the Uruguay Round of Multilateral Negotiations concerning certain sectors of international trade; Having taken cognizance with appreciation of the studies prepared by the Statistical Economic and Social Research and Training Centre for Islamic Countries and Islamic Centre for Development of Trade on this subject; Noting that globalization and increasing liberalization have made the external environment for development crucial, particularly since OIC Member States have become more vulnerable to the fluctuations in international trade, financial and monetary flows as well as to the changes in technology; Recognizing that, as a result of the current trends of globalization and liberalization, a large number of OIC Member States are bearing a disproportionate share of the adjustment burden; Recognizing that the effective implementation of the Uruguay Round Agreements would necessitate a certain measure of adaptation in the economic and administrative structures of the member countries to safeguard their interests and to take maximum advantage of the opportunities to be created thereby. Also recognizing the need for more cooperation and coordination among OIC Member States to ensure expansion in their Inter-Islamic trade; Having taken note of the recommendations of the 21st Session of the Islamic Commission for Economic, Cultural and Social Affairs.
Having considered the report of the Secretary General on the matter, 1. Reiterates urgent need to take practical steps to ensure economic integration among the OIC Member States with the ultimate objective of establishing an Islamic Common Market or any other form of economic integration, on a step-by-step basis, among OIC member countries, in order to help overcome difficulties arising from the formation of global economic groupings and commends the efforts exerted by the Arab Economic and Social Council to create a major Arab free trade zone and other similar initiatives. 2. Underlines the need to devise ways and means to minimize the adverse effects of the international economic system on the economies of the Islamic world. 3. Calls on the international community to adopt appropriate measusres to ensure that the benefits of globalization are shared by all countries on equal basis. 4. Calls for further liberalization and increased access for the products and services where developing countries have a comparative advantage, and access to transfer of technology on concessional terms and for regimes on investment and technology. 5. Urges Member States to pursue efforts aimed at strengthening economic cooperation and economic policy coordination among them so as to maximize the complementarities in their economies and avoid further marginalization. 6. Urges also Member States to coordinate their efforts aimed at making the necessary contacts with the concerned international parties and organizations so as to safeguard the economic interests of Member States and not to prejudice their exports of various commodities and materials. 7. Calls on developed countries to create a more practical, equitable and more transparent environment enabling developing countries to implement their structural adjustment programmes to enable them to achieve sustainable development. 8. Urges Member States to support the Common Fund established by UNCTAD with a view to stabilizing raw material prices. 9. Appreciates the exchange of views conducted during the 11th, 12th and 13th Sessions of the COMCEC on "The Implications of the Uruguay Round of Agreements for the Foreign Trade of Member Countries" and "Privatization Experience of Member Countries" and "Implementation of Regional Economic Groupings, particularly the European Economic Union on the Economies of the Member States" respectively and recommends that these exchange of views sessions be taken advantage of to coordinate the positions of the Member States on important world economic issues. 10. Notes with great concern the extraterritorial application of domestic laws which adversely affect the foreign investments in other countries, including the Islamic countries and rejects all coercive measures which may target Member States intending to expand further the area of cooperation in economic and commercial fields. 11. Recognizes that if the OIC Member States are to become active participants in global economic decision-making and International Trading System, coordinated efforts would be the most effective means for mitigating losses and increasing benefits. 12. Agrees on the need to closely monitor the implementation of the Uruguay Round Agreement and requests the General Secretariat and related OIC Institutions to design and propose for implementation technical assistance programmes to assist those member countries which might have difficulties in responding to the new challenges. 13. Requests the Secretary General to submit a report to the Twenty-sixth Session of the Islamic Conference of Foreign Ministers. |