28 Jun 2011 10:28

Nazarbayev proposes drafting economic development strategy for OIC

ASTANA. June 28 (Interfax) - Kazakh President Nursultan Nazarbayev has proposed adopting an economic development strategy for the Organization of the Islamic Conference's member-states in order to make Muslim states more competitive and to redistribute earnings more fairly.

"We propose drafting an integrated economic development strategy for the OIC member-states," Nazarbayev told the organization's Foreign Ministers Council in Astana on Tuesday,.

The OIC states control 70% of the global energy resources, but account for only 7.5% of global GDP and 11% of the world's trade turnover," he said. "This is absolutely unacceptable, I think. We need to make each member-state and the Muslim community as a whole more competitive," he said.