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10 February 2020

14th World Islamic Economic Forum to be held in Qatar in October

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IMO News Service

The 14th World Islamic Economic Forum (WIEF) will he held in the State of Qatar in October this year. A MoU was signed between Qatar’s Ministry of Commerce and Industry and Kuala Lumpur-based World Islamic Economic Forum.

The MoU signing was attended by Nasser Mohammed Al-Mohannadi, Director of the Financial and Administrative Affairs Department at the Ministry of Commerce and Industry and Syed Abu Bakr Al-Mahdar, Managing Director of the World Islamic Economic Forum Foundation, Qatar News Agency (QNA) reported.  

The WIFE was established in 2005 in Malaysia’s capital Kuala Lumpur with the prime objective of enhancing the economic well-being of Islamic peoples and communities in different countries of the world by facilitating and expanding trade and investment exchanges among them. The WIFE also offers itself as a platform to encourage dialogue and strengthen cooperation between businessmen around the world and to strengthen bridges of communication between the Islamic countries and others for achieving peace and prosperity for the whole world.
The 14th session of World Islamic Economic Forum will be bringing together heads of government, managers of global companies, businessmen, specialists, regional experts, academics and researchers for discussing opportunities to build new business partnerships between Muslim and non-Muslim societies around the world. The WIFE is also constantly endeavoring for reaching a consensus on practical and innovative methods in order to meet the social and economic needs affecting Islamic and non-Islamic societies.

The intra-trade between Islamic countries has expanded significantly in the past years. The volume of the Islamic economic market is expected to exceed USD 3 trillion in 2023. The economies of Islamic countries offer tremendous growth opportunities because of their huge size and increasing purchasing power.

The 14th session of the WIEF will be held amid a sensitive and delicate global scene confronted with a host of major challenges, such as growing disputes over international trade policies, the tightening of global financial policies, economic risks and decision-making, and destabilizing technology for markets.

The 14th session of the World Islamic Economic Forum will be held for three days, and prominently feature several bilateral meetings and complementary programs, as well as an exhibition showcasing brands and products by the participating countries and entrepreneurs.

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