- News code: 16529
The Sharjah Chamber of Commerce and Industry (SCCI) has announced that the Emirate of Sharjah will be hosting the 13th Islamic Trade Exhibition and the 14th Islamic Countries' Private Sector Consortium simultaneously from April 24 to 29, 2011 under the patronage of H.H. Sheikh Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Federal Council and Ruler of Sharjah . The announcement was made during a press conference held recently at the Chamber's headquarters and was attended by SCCI Deputy Chairman H.E. Saeed Bin Obeid Al Jarwan; Board Member H.E. Mohammed Salem Al Mashrakh; Director General H.E. Hussein Mohammed Al Mahmoudi; and H.E. Saif Al Midfa, Director General of Expo Center Sharjah. Media were informed of preparations being made for the exhibition and how it complemented the directives of H.H. the Ruler of Sharjah to promote economic collaboration and sustainable growth through partnerships among businessmen, thus benefiting the entire Islamic Nation .Both events attract wide interest from Islamic Countries and are well-timed as current global economic shifts call for more investments, new job opportunities and the maintaining of high growth rates in developing countries .SCCI Chairman Ahmed Mohammed Al Midfa explained how such events reaffirm Sharjah's stature as a capital for Islamic culture and its role in economic and investment activities, which in turn reflect the UAE's positive regional and international standing . Al Midfa said: "The Exhibition in tandem with the Consortium provides a special platform for introducing and promoting the products and services of participating countries to the Arab region. It also facilitates discussions on new policies and products and investment partnerships that serve Arab interests. In addition, it enables countries to discuss the best ways to bridge gaps in commercial and investment ties among the private sectors of Islamic states as well as the inter-regional transfer of Arab capital" . There is a high potential and strong capability for trade among Islamic countries and yet the current status does not reflect their joint ambitions. We need to attain Islamic economic consolidation to create a balance with global integration. There are many investment opportunities available in Islamic countries that can easily attract capital from around the world," he added . Commenting further on Islamic trade, the SCCI Chairman said: "It is important to reinforce Islamic trade all over the world and introduce diversified commercial products, Islamic funding and banking, and halal foodstuff. These all comply with Islamic Sharia which has gained greater global prominence" .Al Midfa also pointed out how the international financial crisis has shown the potential of the Islamic funding and banking sector, explaining that the Islamic economic system prevents recurring crises and did not contribute to the current global downturn as it does not allow trade in debt, interest rates, and short-term and marginal sales, among others Islamic banking institutions are some of the largest and most aggressively growing in the world, with more than 400 members handling well over a trillion US dollars. This system does not require the use of many traditional banking tools such as linking debts to inflation indices or exchange rates in times of crisis," he revealed .The SCCI Chairman thanked UAE President H.H. Sheikh Khalifa Bin Zayed Al Nahyan for hosting the event in the UAE and H.H. Sheikh Dr. Sultan Bin Mohammed Al Qassimi for his generous patronage of the exhibition which was previously hosted by Sharjah in 2002. He also thanked all supporting and participating parties such as the Islamic Chamber Association, the Federation of UAE Chambers of Commerce and Industry, the Ministry of Economy and the Ministry of Foreign Affairs .Al Midfa presided the first meeting of the Supreme Organizing Committee of both the 13th Islamic Trade Exhibition and the concurrent Consortium. Attendees included representatives from the Department of Economic Development, the Media and Culture Department, the Touristic and Commercial Development Authority, the Association of UAE Chambers of Commerce and Industry, the Ministry of Foreign Trade, the Sharjah Municipality, and the Sharjah Police. The session discussed arrangements for hosting the events and saw the appointment of various committees to oversee related works. Suggestions and opinions were exchanged to ensure the success of the event, provide significant benefits for participants, and make sure that the activities reflected the good stature of the Emirates .Saeed Obeid Al Jarwan, General Coordinator of the Organizing Committee, announced that the three-day exhibition would be held at Expo Center Sharjah in cooperation with the SCCI, the Ministry of Commerce and Industry, Federation of UAE Chambers of Commerce and Industry, and the Islamic Center for Trade Development. He noted that the exhibition aims to develop sustainable economic partnerships between the Organization of Islamic Countries' (OIC) member states. He added that participants would include businessmen from neighboring states as well as from East Africa, India, and Central Asia . Al Jarwan also stated that significant efforts have recently been made to promote this major Islamic event and the UAE's and Sharjah's honorable position as its host for the second time around. He revealed that invitations were sent to all OIC member states while the promotional committee visited countries with Muslim populations such as China and India .Islamic trade should be reinforced further to penetrate markets catering to Muslim consumers and to all consumers in general," said Al Jarwan .Al Jarwan also commented on the exceptional ability of Islamic financial institutions in UAE and GCC region to compete with their peers around the world and build a distinguished international reputation. He noted that these institutions have been conferred several awards and honors for delivering high quality products and services.Mohammed Salem Al Mashrakh, Head of the Consortium Committee, said that the consortium will be hosting prominent UAE businessmen and will be informing them of local investment opportunities, trends and incentives; commercial prospects in OIC countries; prospective capital funding of economic partnerships in developing markets; and challenges and opportunities across all sectors .Sessions held during the consortium will discuss the potential for cooperation between businessmen, banks, financial institutions, and project funders and dealers. They will also unveil possibilities for penetrating new markets, funding new projects and expanding existing ones," said Al Mashrakh .SCCI Director General Hussein Al Mahmoudi, said that the event highlights the Chamber's full support for the international Islamic business community as it reinforces regional and global trade. He noted that the exhibition running parallel to the Consortium focuses on the development of high-quality Islamic financial services and products vital to the realization of the Islamic goals aspirations. He added that the event will be an opportunity to discuss and address obstacles to the sustainable growth of Islamic commerce .Saif Al Midfa noted that the invitation to the exhibition extends from Islamic nations to countries with Muslim residents such as India and China ..The success of our previous hosting of the exhibition in 2002 was a strong motivation for us to double our efforts for this year's edition. The 2011 exhibition will enable us to highlight the excellent standing of Sharjah and its role in enhancing the UAE's global economic stature," said Al Midfa ..Finally, Al Midfa pointed out the key role played by Expo Center Sharjah in promoting commercial exchange between participating states. He explained that the Center provides a platform for enterprises and entrepreneurs to conduct deals and enter into agreements .
