10^th INTERNATIONAL BUSINESS FORUM CONGRESS

- FINAL COMMUNIQUE -

Issued by the Heads of Delegations

Attending the 10^th International Business Forum Congress

Istanbul, 22^nd – 25^th November 2006

In the Name of Allah, Most Gracious, Most Merciful

All praises are due to Allah for the successful conclusion of the 10^th International Business Forum (IBF) Congress. This 10^th edition of the annual event was attended by over 1700 international delegates from 55 countries.

IBF members extend their warmest thanks to the MÜSÝAD – Independent Industrialists and Businessmen's Association – for hosting and successfully organizing the 10^th IBF Congress and providing their hospitality.

We owe particular thanks and gratitude to H.E. Recep Tayyip Erdogan - Prime Minister of The Republic of Turkey – for holding this great event under his auspices and for his enlightening remarks. Also, we owe our gratitude to H.E. Abdullah Gul – Deputy-Prime Minister of The Republic of Turkey – and to H.E. Kursad Tuzmen, State Minister in-charge of Foreign Trade for their immense support in the realization of such a grand event.

We thank H.E. Ebrahim Rasool - Premier of Western Cape, South Africa -, H.E. Kursad Tüzmen – State Minister in-charge of Foreign Trade of Turkey –, H.E. Ali Babacan – State Minister in-charge of Economy of Turkey –, H.E. Dr. M. Hilmi Güler – Minister of Energy and Natural Resources of Turkey–, H.E. Rashid Mohamed Rachid – Minister of Industry and Trade of Egypt –, H.E. Abujerrah Sultani – State Minister of Algeria –, H.E. Mustapha Mechahouri – Minister of Foreign Trade of Morocco –, H.E. Enver Öztürk – Minister of Economy and Tourism of The Turkish Republic of Northern Cyprus –, H.E. Dr. Amer Housni Lutfi – Minister of Trade and Industry of Syria –, H.E. Falah Fahad Al-Hajri– Minister of Trade and Industry of Kuwait –, for their guiding and thought-provoking speeches.

We also thank for the kind presence of H.E. Altayyb Saffi – Minister of Trade of Libya -, H.E. Davood Danesh Gafari – Minister of Finance and Economics of Iran -, H.E. Tangara Djibril – Minister of Social Development of Mali -, and, H.E. Salman Sulayman – State Minister in charge of Foreign Relations of Sudan -.

We thank H.E. Prof. Ekmeleddin Ýhsanoðlu, - Secretary General of Organization of the Islamic Conference (OIC) -, H.E. Dr. Ahmed Mohammed Ali, - President of Islamic Development Bank (IDB) -, H.E. Shaikh Saleh Abdullah Kamel - President of Islamic Chamber of Commerce & Industry (ICCI) -, H.E. Abdullah Saif Al Nuaimi – Director of Privatization in Abu Dhabi Water & Electricity Authority of Abu Dhabi-United Arab Emirates –, H.E. Mazen Sinokrot – Former Minister of Economy of Palestine -,  Dr. Ghassan Ahmad Al-Sulaiman – Chairman of Ghassan Al-Sulaiman Holdings, Mohammed Bader Al-Sada – Vice-Chairman, Al-Jazeerah Satellite Network, respectively for their speeches.

We also warmly welcome and appreciate the immense support of OIC, and IDB; and, to Under-secretariat for Foreign Trade under the Turkish Prime Minister's Office (DTM) –, Small and Medium Industry Development Organization of Turkey (KOSGEB) –, Istanbul Chamber of Commerce (ITO) –, Istanbul Metropolitan Municipality (IBB) –, and Turkish Air Lines (THY) –.

We thank all 55 country delegates (45 of which are delegations) for their participation in the forum; and, especially, our partner country Syria for participating with over 220 delegates.

The 10^th IBF Congress has deliberated on the main topic of "Intra-OIC Investment: Partnering for the Global Market" which has been elaborated by the distinguished government representatives and delegate representatives of Algeria, Egypt, Kuwait, Morocco, Palestine,  Qatar, Saudi Arabia, South Africa, Syria, Turkey, Turkish Republic of Northern Cyprus, United Arab Emirates, and that of OIC and IDB respectively along with the heads of delegations and other distinguished speakers.

The IBF Board of Governors (BOG) is pleased to announce the strengthening of member organizations internally in particular Algeria, Australia, Germany, Iran, Jordan, Lebanon, Morocco, The Netherlands, Pakistan, Palestine, Saudi Arabia, South Africa, Sudan, Syria Turkey, and Yemen and welcomes the admission of Abu Dhabi – United Arab Emirates with an observer status. Also numerous successful business ventures among member businesspeople have been noted with great excitement since the last Congress in 2005.

The 10^th Annual IBF Congress has also provided unique opportunities for participating businessmen and businesswomen from all over the world to pursue their individual trade and investment interests. MÜSÝAD has organized platforms to facilitate interaction among attending business people, namely, the congress (i.e.: intellectual discussion on industrial partnering, project financing and financial investing in Intra-OIC), international trade fair, country seminars, and sectoral business matching sessions.

The IBF, launched in Lahore, Pakistan in 1995 and chaired by MUSIAD in Turkey since then, being rotationally organized in Turkey and other member country, has proven to be making a considerable progress on its long-cherished goal of achieving enhanced cooperation and economic links among Muslim Nations, thus contributing to the economic and social development among member countries.

Cognizant of the new opportunities as well as threats arising out of new multilateral mechanism and globalization as led by the developed countries, the IBF strongly calls on the respective OIC governments to aim at achieving more economic integration which will result in better understanding and cooperation among business communities in all domains.

IBF members felt encouraged by the acknowledgement of the leading representatives of governments and institutions such as OIC and IDB that mainstreaming of private sector in policy making and economic relations is crucial for sustaining growth.

The 10^th IBF Congress has resolved to;

• Encourage OIC member states to plan and develop collectively their own monetary fund and common market, so as to strengthen their financial exposure in international transactions
• IDB to seek necessary measures and work for establishing a rating system for OIC member state banks and companies
• Mobilize the means to support Palestinian economy via brand awareness of Palestinian products, fairs and "Buy Palestinian Goods" campaign
• Urge the member governments to facilitate giving visa quickly by means of several measures (e.g.: membership certificate or letter from respective chamber)
• Member states providing "Supplier's Credit" for their exports to other member countries
• Support the signing of preferential customs agreement proposed in COMCEC meetings
• Highlighting and diverting resources for more investment in information technologies, logistics, forwarding and transportation in consideration with their crucial and catalyzing role in development,
• Urge OIC member states to encourage IDB and its affiliate organizations to conduct business with private sector directly, and to prefer arbitration mechanisms to courts due to its simple procedure
• Continue its efforts to provide opportunities for networking, information sharing, and interaction through its conferences and exhibitions resulting in mutually beneficial relations in the form of exchange of goods, services and new investments,
• Pursue capitalization of intellectual property resources through establishment of strategic research centers, and investment in education, human resources development and capacity building measures
• Strongly advocate removal of impediments and restrictions such as non-tariff barriers, double taxation, direct/indirect transportation, institutional deficiencies, and lack of harmonization of regulations domestically and internationally to allow for maximum growth
• Earnestly advise financial and banking institutions infrastructure to sensibly and urgently respond to the needs of business sector for the promotion of manufacturing and commerce by taking measures to facilitate accreditation of financial institutions, forming trade and financial instruments, financing of joint-venture projects, and fund transfers
• Promote the cause of greater support to SMEs so that they can play their pivotal role in accelerating growth, providing employment, mobilizing local resources for global competitiveness
• Encourage investment by business community in certain mega projects in order to carve a noticeable share of market in technology-bounded products.
• Continuously remind the business community of the importance of remaining fully concerned with eradication of poverty, social injustice, environmental degradation, as well as the need to contribute towards human development and well-being.

It has been resolved that the forthcoming 11^th IBF Congress will be elected from four bidding candidate IBF Chapters; namely, Syria, Algeria, Morocco and Abu Dhabi-U.A.E; will be held in November 2007. Member organizations have committed themselves to participate in the 11^th Congress with a larger representation of businessmen and businesswomen from each country.

Erol Yarar

President

International Business Forum

Istanbul, 24^th November, 2006