The Fifth World Biz and Muslim World Biz Exhibition and Conference got underway, unofficially, here on Monday with participation of Kuwait’s Ministry of Commerce and Industry and a large number of Kuwaiti companies and authorities.
The Kuwaiti Ministry has set up a special pavilion at the fair ground, promoting its activities, key projects and enterprise in the Gulf country. Organizers affirm that its participation in the major Islamic event is significant, particularly with respect of boosting commercial exchanges with other member countries of the Organization of Islamic Cooperation (OIC).
Government departments, companies, conglomerates and factories from 35 states are taking part in the conference-fair event, scheduled to proceed till November 14.
Official inauguration of the event is scheduled on Tuesday. The inaugural ceremony will be attended by Malaysian Prime Minister Najib Razak, OIC Secretary General Iyad Madani and other prominent Islamic personalities.
According to organizers, 40 memoranda of understanding will be signed during the event. Value of transactions, forecast to be worked out during 30 sessions, are estimated at USD 300 million.
The forum is designed to showcase Malaysia as a regional hub for debating development in the Islamic world, aiding the OIC member states hike economic growth, hopefully by 20 percent (USD 250 billion) by 2015. Other objectives are exploring new joint investment opportunities and domains, bolstering inter-Islamic trade cooperation and hiking commercial exchanges among these states.
Its agenda is long, encompassing diverse issues such as air and land cargo, logistical matters, developing higher education and tourism.
Source : KUNA Kuwait News agency
