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Kazakhstan made several offers to Islamic business world

08 june 2011, 17:32
0
The 7th World Islamic Economic Forum is held in Independence Palace in Astana. Photo courtesy of flickr.com
The 7th World Islamic Economic Forum is held in Independence Palace in Astana. Photo courtesy of flickr.com
Kazakhstan made several offers to the Islamic business world, a Tengrinews.kz journalist reports from the Independence Palace in Astana, where the 7th World Islamic Economic Forum (WIEF) is held.

“We propose to create a dialog platform for top ten islamic economies on the basis of the WIEF. Our country's resources allow us to create a powerful financial pool for investment cooperation. Considering that some of the Islamic countries are laging behind the leading scientific and technological trends, I propose to create an international innovations center with participation of the interested countries of the Organization for Islamic Conference,” Kazakhstan President Nursultan Nazarbayev said.

The President noted that support of small and medium-sized businesses (SMBs) requires creation of a special WIEF work group and discussion of a special SMBs fund under the Islamic Development Bank.

“We are interested in cooperation with Islamic countries and attraction of Islamic financing. According to experts, the Islamic investments inflow into Kazakhstan can potentially reach $10 billion in the coming years. Availability of transportation, communication and logistics systems is an important condition for expansion of the trade-economic cooperation of our countries. Kazakhstan is actively using its geo-economic location to develop the international transit corridor between Western Kazakhstan and Western Europe,” Nursultan Nazarbayev said.

The President offered the Islamic Development Bank to take part in financing the construction of the 963-km Kazakhstan-Turkmenistan-Iran railroad. Overall cost of the project is estimated at $1.5 billion.

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