Report on the15 th Private Sector Meeting for the Promotion of Trade and Joint Venture Investment among Islamic Countries

and7 th Forum for Businesswomen in Islamic Countries

Tehran, Islamic Republic of Iran28 th - 30 th October 2013

Theme: Role of OIC Countries in Global Development

Overview:

The Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) has been organizing the Private Sector Meetings and Businesswomen Forums on an annual basis. ICCIA has organized fourteen Private Sector Meetings and six Businesswomen Forums in various OIC Member States in collaboration with the Islamic Development Bank Group, Member Chambers and Businesswomen Associations as well as other international organizations.

These events have been successful in gathering a large number of entrepreneurs, traders and industrialists and businesswomen from Islamic Countries for bilateral contact and discussions, particularly, economic and business issues. Apart from being a platform for bilateral contacts, these meetings also address issues which the private sector from the OIC countries is facing. Notable speakers and experts are invited to address the issues and find possible solutions through knowledge sharing and best practices. These events have been providing opportunities to the entrepreneurs / institutions to discuss the possibilities of cooperation with the private sector in common areas of interests, such as finding new markets for their products, financing new projects, setting up partnerships in joint ventures and applications for trade financing. Through these meetings, greater awareness has been created among OIC business community regarding the available opportunities for collaboration in industrial ventures as well as for expansion of trade and investment among OIC Member States.

15 th Private Sector Meeting for the Promotion of Trade and 7 th Forum for Businesswomen in Islamic Countries:

The 15th Private Sector Meeting for the Promotion of Trade & Joint Venture Investment among Islamic Countries and the 7th Forum for Businesswomen in Islamic Countries, both events were held jointly in Tehran – Islamic Republic of Iran from 28th to 30th October 2013 under the theme of “Role of OIC Countries in Global Development”. Islamic Chamber 1

As per the recommendation the COMCEC, the Private Sector Meeting was held concurrently with the 14th Trade Fair of OIC Countries.

The events were organized by the Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) in collaboration with the Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA) and the Islamic Development Bank Group (IDB) and was held under the kind patronage of H.E. Dr. Hassan Rowhani, President of the Islamic Republic of Iran and was inaugurated and attended by H.E. Eng. Eshaq Jahangiri, First Vice President, Islamic Republic of Iran and H.E. Eng. Mohammad Reza Nematzadeh, Minister of Industry, Mines and Trade, Islamic Republic of Iran.

The events were attended by 200 participants from 25 OIC Member Countries, representative of H.E the OIC Secretary General, representative of the Islamic Development Bank Group namely ICD, IRTI, ICIEC, ITFC, representatives of COMCEC Coordination Office, ICDT, UNIDO, MUSIAD and ISESCO.

Inaugural Session:

The Inaugural Session was started with the recitation from the Holy Quran.

H.E. Dr. Mohammad Nahavandian, President, Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA) welcomed the participants of the 15th Private Sector Meeting and the 7th

Forum for Businesswomen. He stated that in the face of the global economic downturn the OIC as a bloc, recorded an average growth rate of 6.2 per cent in their real GDP in 2012 compared to the previous year. He said the IDB with its various affiliates such as ICD/ICIEC/IRTI and ITFC can play a significant role in development of intra OIC trade, investment and assistance to the LDC member states. He further emphasized the need for more economic and commercial cooperation and to jointly improving the efficiency of the trade facilitation procedures and processes as well as standardization and simplification of customs documentation and procedures; and introducing Electronic Data Interchange (EDI) and IT facilities at land and sea ports; simplify testing procedures and certification.

In his speech, H.E. Rifat Hisarcıklıoğlu, Vice President of the Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) and President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) highlighted some economic indicators that show the huge gap between the developed and underdeveloped Islamic countries and underlined the necessity for more economic, industrial, commercial and technical cooperation among the OIC Member States. He said with the understanding of equal partnership among the Islamic countries, we should establish the mechanisms that will provide utmost economical cooperation, develop our vision, and create strong partnerships. He added that oil and natural gas prospers only our states. The resources prospering people are qualified workforce, investment and commerce. He further said for this purpose we should firstly improve business and investment environment in our countries and we should eliminate the bureaucratic impediments in many field such as visa, custom procedures and work permits.

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Message of H.E. Prof. Dr. Ekmeleddin Ihsanoglu, Secretary General of the Organization of Islamic Cooperation (OIC), read out by Ambassador Mouhamadou Doudou Lo, Director General (Economic Affairs), OIC. H.E. thanked the Islamic Republic of Iran for hosting the Joint Forum and the Trade Fair and highlighted the OIC efforts in the past years have continued to produce desired results. The intra-OIC trade exchanges have continued to increase from 14.44% in 2004 to 18.21% in 2012. This ratio translates in monetary terms to a dramatic increase from a total volume of US$ 205.07 billion in 2004 to US$742.74 billion in 2012. He said that the foregoing measures towards improving the legislative and regulatory climates for intra-OIC trade, the OIC has also encouraged the development of the real sector of its economies in order to improve competitiveness and productivity, which are necessary for increased trade exchanges and economic growth.

In his Keynote Address H.E. Eng. Mohammad Reza Nematzadeh, Minister of Industry, Mines and Trade, Islamic Republic of Iran, said that Iran is strategically located on North South Corridor, making it an ideal for OIC and neighboring countries to transport their goods. The Honorable Minister called for enhancement of joint investments among OIC Member States, which would further cement the solidarity among the Islamic Ummah. He welcomed the participants from various OIC Member states and wished them pleasant stay in Tehran and successful deliberations of these important economic gathering.  

In his Inaugural Speech, H.E. Eng Eshaq Jahangiri, First Vice President, Islamic Republic of Iran, said that the Islamic Republic of Iran attaches great importance to the development of its economic and trade ties with Islamic countries. The Honorable First Vice President, expressed hope that developing ties between OIC member states could play an important role in accelerating the growth of the economies of the Islamic countries. He emphasized on the need for stronger economic and commercial links among OIC Member States for the advancement of their socio-economic development.

H.E. Eng Eshaq Jahangiri, First Vice President, Islamic Republic of Iran, inaugurated the 15th

Private Sector Meeting; the 7th Forum for Businesswomen in Islamic Countries and the 14th

Trade Fair of OIC Countries. The Fair was visited by the dignitaries, all the foreign participants, Ambassadors, Diplomats as well as members of the business community of the Islamic Republic of Iran.

Keynote Session:

After the inaugural session, the Keynote Session on the “Challenges Faced by OIC Countries in Enhancing Economic Cooperation” was held; where following speakers made their presentations. The Keynote Session was chaired by Dr. Sabah Zangeneh, Advisor to the ICCIMA President:

H.E. Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI)

Dr. Mehdi Fakheri, Director General of Islamic Chamber Research and Information Center(ICRIC)

Mr. Mustafa Adil Sayar, COMCEC Coordination Office

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Islamic Development Bank Group (IDB)

Dr. Abdelrahman Elzahi, IRTI

Mr. Eren Kelekci, Program Manager-Asset Management, Islamic Corporation for the Development of the Private Sector (ICD)

The Keynote Session addressed the major challenges that are facing OIC Member States in enhancing their economic cooperation and the expert speakers shared their perceptions from different angles, each in his domain. The IRTI of IDB Group pointed out that the lack of the basic infrastructure facilities creates non-conducive trade environment, raises the cost and risk of trade financing and decrease the competiveness of the SMEs. It was mentioned that the governments and IDB as a multilateral bank, need to exert more efforts to provide sustainable and enabling environment for Islamic finance to give effective support to SMEs. The ICD representative highlighted the role of his institution in the development of the private sector with special focus on SME Funds. The panel concluded by underlining the need for resolute political will to overcome all hindrances that impede the economic cooperation at multilateral level.

Technical Sessions:

The joint Forum was enriched by eight Technical Sessions, covering all aspects of the theme from different angles. The expert speakers have been invited to deliver their presentations on various topics of the theme. Each session was followed by an interactive Questions / Answers session, which added more value to the presentations.

The Technical Session-1 on the “Role of Financial Institutions and OIC Institutions in Developing Intra-Islamic Trade” was chaired by Dr. Mehdi Fakheri, Director General of Islamic Chamber Research & Information Center (ICRIC) and the following speakers made their presentations:

Mr. Imad Alfatih, Head, Claims and Recovery Division, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), IDB Group

Dr. El Hassane HZAINE, Director General, Islamic Centre for Development of Trade (ICDT)

Dr. Akbar Komijani, Vice Governor (Economic Affairs); Central Bank of I.R Iran

Mr. Ilhan Soylu, Member, Board of Directors, Istanbul Chamber of Commerce.

The Session thoroughly addressed the subject theme and the expert speakers shared their views on the role of the Financial Institutions and OIC institutions in developing of Intra-OIC trade, and the best ways and means to effectively contribute to realizing this objective.

The Technical Session-2 was held on the “Role of Islamic Banks and Finance in Promoting Intra-OIC trade” and the following speakers made their presentations. The session was chaired by Dr. Abdelrahman Elzahi, IRTI:

Dr. Parviz Aghili Kermani, Chairman of Bank Khavar Miyaneh.

Dr. Sabah Zangeneh, Advisor to the ICCIMA President

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Dr. Hashim Hussain, Head UNIDO Bahrain

Dr. Shayan Arani, IRTI Board Member

The Session comprehensively addressed the theme and the knowledgeable speakers shared their insights on the role of Islamic Banks and Finance in Promoting Intra-OIC trade, and called for full utilization of the Trade Preferential System of OIC Member States (TPS-OIC) in developing the current rate of commercial exchanges among member states.

The Technical Session-3 was held on the “Role of Women in achieving Sustainable Development - Capacity Building and Poverty Alleviation: A Way to self-reliance” and was chaired by Mrs. Attiya Nawazish Ali, Asst. Secretary General, ICCIA. The following were among the speakers:

Engr. Nahla Nagmuldin, Businesswomen Secretariat in the Sudanese Businessmen & Employers Federation

Mrs. Eng. Azadeh Danandeh, Chairperson of Tehran ICT guild organization Directing manager of Baharan co

Ms. Fauzia Kerai Khan, Chief Consultant, i&b Consulting, Pakistan

Dr. Fatemeh Mohajerani

Dr. AbdelGadir Warsama Ghalib, Legal Advisor to the Kuwait-Bahrain Bank

The Session discussed the role of women in achieving Sustainable Development - Capacity Building and Poverty Alleviation. The expert speakers shared their views on the subject and emphasized on the significant and proven role undertaken by women entrepreneurs in promoting the socio-economic development of the OIC Member States.

The Technical Session-4 was held on the “OIC Priority Areas : Health, Tourism , Food Security / Role of IT on Food and Medicine” and the following speakers made their presentations. The session was chaired by Dr. Mohammad Reza Karbasi, Director General of ICCIA in Iran Chamber:

H.E.Ambassador Mouhamadou Doudou Lo, Director General (Economic Affairs), OIC

Dr. Mohammad Jahangiri; Deputy Chairman, Medial Council of I.R Iran and Iranian International Healthcare Association (IIHA)

Ms. Aeyesha Gulzar, Coordinator, Pakistan Agribusiness Forum

Dr. Mohammad Hossein Shojaei, Standing Scientific Committee of ICRIC and Advisor to the President of Iran National Standards Organization

Mrs. Shabnam Bahrami, Chairperson of the ICCIMA Tourism and Services Commission

Dr. Morteza Pir Ali. Counselor - Deputy of Biotechnology - Center for Innovation and Technology Cooperation (CITC) .I.R Iran

Dr. Mrs. Fatemeh Hashemi, Head ,Charity Foundation for Special Diseases.The session discussed the priority areas of OIC, in particular pivotal sectors such as Health, Tourism, Food Security as well as the Role of Information Technology on Food and Medicine. Islamic Chamber 5

The Speakers shared their opinions on the said subject and stressed on the significance of OIC prioritization of these substantial areas.

The Technical Session-5 was held on the “The Role of Women in Economic Growth and Prosperity” and the following speakers made their presentations. The session was chaired by Dr. Mrs. Fatemeh Hashemi, Head, Charity Foundation for Special Diseases:

Mrs. Zahra Akhavan Nasab, Iran Businesswomen Association (IBWA)

Mrs. Selima Ahmad, Founder President, Bangladesh Women Chamber of Commerce & Industry (BWCCI)

Mrs. Feryal Mostowfi, Managing Director , KDD Group

Dr. Asna Fall Ndiaye, Senior Economist/Gender Specialist, PROXIDEV, Senegal

Dr. Abbas Sadri; Director of ISESCO Regional Office in Tehran.

The session discussed the Role of Women in economic growth and prosperity. In their presentations, the Speakers shared their perceptions on the said subject and stressed on the necessity for giving further support to women so that they can play their due role.

The Technical Session-6 was held on the “Investment Opportunities in OIC Countries” and the following speakers made their presentations. The session was chaired by Dr. Abdulhasan Al-Dairi, President, Bahrain SMEs Society:

Dr. Abdulhasan Al-Dairi, President, Bahrain SMEs Society

Dr. Muhammad Syafii Antonio, Rector and Chairman of Tazkia University College of Islamic Economics, Indonesia

Eng. Seyed Hossein Salimi, ICRIC Board Member in Charge of Investment Projects

The session discussed the abundant investment opportunities that are available in OIC Member Countries. On their part, the expert Speakers shared their insights on the said subject and highlighted the need for institutionalized support for optimum exploitation of the existing natural, material and human resources that are available in the OIC member states.

The Technical Session-7 was held on the “Developing the Culture of Entrepreneurship” and the following speakers made their presentations. The session was chaired by Dr. Asna Fall Ndiaye, Senior Economist/Gender Specialist, PROXIDEV, Senegal:

Mrs. Eng. Seyedeh Fatemeh Moghimi, Advisor to President ICCIMA in Businesswomen and Women Entrepreneurship Affairs

Ms. Uzeiye Hadijah, Development Manager of Akiba International Ltd. Uganda Dr. Zahra Nejhadbahram, Director Establishment of the Renovation Services Office, Tehran.

The session discussed the importance of developing the culture of Entrepreneurship as vigorous means to bring about prosperity and economic progress by providing job opportunities to numerous unemployed young and women. The Speakers shared their insights on the subject and highlighted the need for further promoting Entrepreneurship Culture in all OIC Member States.

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The Technical Session-8 was held on the “Role of SMEs in Global Development” and the following speakers made their presentations. The session was chaired by Mrs. Fatemeh Shabani; Director of the Board, Women Entrepreneur Institute.

Ms. Damira Mirzakhalilova, Senior specialist on SME Development, Business Women Association of Uzbekistan;

Ms. Maya Orazmuradova, General Director, Economik Society (Chapak).

Mr. Mir Jamal Seyedrasouli, Independent Industrialists and Businessmen Association (MUSIAD)

Mr. Ali Ihsan AKSU, General Manager, Aksuestetik, MUSIAD Tabriz Member.

Ms. Katayoun Sepehri, Director for International Affairs in Association of Iranian Women Entrepreneurs.

The session discussed the important role played by Small and Medium Enterprises in Global Development at large. In their presentations the capable Speakers, shared their perceptions on the subject and highlighted the significant role assumed by SMEs sector in OIC Member States in particular and the international arena at large.

The Networking Session was held and the following speakers made their presentations.

Mr. Baghdadi, Director General of Intelligence Persian Consultants Co. (IPC)

Mr. Shokr Khodaei, Director General of Parsian Houshamnd Group Co.

Dr Jamshid Edalatian Shahryari, Chairman of the Board of Directors of Iran Kompass / Dr. Max Eduard Neuenschwander, President of Kompass Co.

Mr. Baghdadi, Director General of Intelligence Persian Consultants Co. (IPC) made presentations on the 3rd Muslim Excellence and Competitiveness Award Ceremony. Mr. Shokr Khodaei, Director General of Parsian Houshamnd Group Co. spoke on the Islamic Countries Credit Rating System Project and Dr. Jamshid Edalatian Shahryari, Chairman of the Board of Directors of Iran Kompass / Dr. Max Eduard Neuenschwander, President of Kompass Co. briefed on the Islamic World Trade Directory and its utilization. The participants shown keen interest in the above presentations and raised various queries and the Honorable Speakers provided them the first hand information.

Outcome:

The events provided an excellent opportunity of networking to all the participants including businessmen, representatives of Banks and Financial Institutions, Project Sponsors and

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Investors as well as Traders. They met with each other and with the representatives of the IDB Group and COMCEC Coordination Office and discussed possibilities for further expansion of their business ties. The overall result of these events is satisfactory since a number of bilateral and multilateral agreements were made among the participants and knowledge was shared and success stories were discussed and best practices were exchanged.

The Sessions provided the participants, with insight knowledge and opportunities to discuss the possibilities of cooperation with each other in common areas of interests, such as finding new markets for their products and services, financing new projects and expansion of the existing ones as well as setting up joint ventures. Numerous interests were expressed between the participants and deals were agreed upon among their counterparts from the various participating Member States. Closing Session:

The closing session was held on 30th October 2013 under the Chairmanship of H.E. Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI). The Rapporteur, Dr. Mohammad Reza Karbasi, Director General of ICCIA in Iran Chamber read the Tehran Economic Declaration, which were unanimously adopted.

H.E. Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) in his closing remarks thanked all the delegates for not only attending the Meeting in Tehran, but also by actively participating in discussions and bilateral meetings. He also thanked Islamic Chamber of Commerce, Industry & Agriculture (ICCIA), Islamic Development Bank Group (IDB) and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) for organizing these successful events in Tehran.

In his closing remarks, Dr. Abdul Sattar A. Eshrah, Advisor to the President, Federation of Egyptian Chambers of Commerce thanked all the participants for coming to attend these events in Tehran and wished that they through this meeting would have achieved some considerable results.

Thereafter, Mr. Elsadig Gadallah Mukhayer on behalf of ICCIA thanked the Government and people of the Islamic Republic of Iran for their warm hospitality and welcome extended to all the delegates since their arrival and throughout their stay in Tehran. He also extended thanked on behalf of the Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) to the Islamic Development Bank Group (IDB) and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) for coorganizing these successful events in Tehran. He concluded by expressing best wishes to all the delegates for a safe journey back home and thanked the media personnel for the coverage of the Meetings.

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