Solidarity through trade<\/p>\n
With little fanfare, the Islamic Chamber of Commerce and
\nIndustry and private sector groups concluded their week-long
\nmeetings in Jakarta yesterday calling for greater trade among the
\n52 members of the Organization of Islamic Conference (OIC).<\/p>\n
The call, stipulated in the Bandung Declaration, so called
\nbecause the declaration was hammered out in the West Java city,
\nbrings home the sad truth that Islamic countries do not trade
\nwith one another as much as they could, and should.<\/p>\n
The chamber, a private sector organization under the OIC,
\nbelieves that through trade and investment facilitation, and even
\nsome measures of trade liberalization between the OIC countries,
\ntrade among Islamic countries in the world could truly blossom.<\/p>\n
There is also an increasing realization among OIC governments
\n-- apparent from addresses by Indonesian officials during the
\nchamber's conference -- of the need to find trade allies in the
\nface of increasing global economic competition. OIC could be one
\nsuch forum to forge alliances. Liberalization, once considered a
\ndirty word and a monopoly of the western world, is now an
\ninternational catchphrase and a key to economic survival.<\/p>\n
Some might dismiss the Bandung Declaration as ambitious. On
\nthe face of it, the 52 OIC economies appear to have little in
\ncommon and most find it more beneficial to trade with the West
\nand non-OIC countries. To date, economic interests have taken a
\nbackseat in the OIC's 25 years of existence. Although the OIC's
\nraison d'etre was the promotion of Islamic solidarity, the
\norganization has been more concerned with politics.<\/p>\n
But anyone who suggests that trade and Islam don't mix is
\nwrong. Prophet Muhammad grew up a successful trader before he
\ntook up the call of God when he turned 40 years old. Islam was
\nbrought to this part of the world by traders, who mixed commerce
\nwith religious propagation. Propagation through trade was very
\nmuch the name of the game then. Today, we should revive that
\nspirit of entrepreneurship among Islamic people, though the game
\nshould perhaps be more appropriately called solidarity and
\nbrotherhood through trade and economic cooperation.<\/p>\n
This is because not only is there immense profit to gain from
\ntrading among Islamic countries, there is also the religious call
\nto help less fortunate brethren, especially poor OIC countries in
\nAfrica. Among the 52 OIC countries are some of the richest and
\npoorest nations in the world. This calls for solidarity. Among
\nthe OIC members are countries that have succeeded in their
\nindustrialization programs, like Malaysia and Indonesia. This
\nshows growing potential for trade because they offer a greater
\nrange of tradable goods, than simply raw materials which
\nrestricted trade in the past.<\/p>\n
While aid from wealthy petrodollar countries may be an
\nattractive proposition to assist poor OIC members, it can never
\nreplace trade. Besides being longer lasting, trade relations are
\nfounded on the principles of mutual benefit and equal
\npartnership. There are no donors and recipients in such
\nrelations. Few in the OIC are in the position to extend financial
\naid to fellow members; but given the chance, all OIC members can
\ntrade with one another, and benefit immensely from such
\nrelations.<\/p>\n
There are of course many obstacles to overcome, but these are
\nnot grounds to dismiss the Bandung Declaration as ambitious.
\nThere is the problem of financing for intra-OIC trade, which so
\nfar has been provided only by the Islamic Development Bank. There
\nis also the problem of transportation, as exemplified by the fact
\nthat many Indonesian products finding their way to Islamic
\ncountries are actually exported by Singapore.<\/p>\n
These and all the other problems obstructing intra-OIC trade
\nneed to be addressed, not only by the Islamic chamber, but also
\nby the OIC governments. The OIC ministerial meeting which Jakarta
\nwill host in December is a good opportunity for OIC governments
\nto show goodwill by backing the chamber's call for more trade.
\nThe Bandung Declaration may be a small step, but it is a step in
\nthe right direction.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/solidarity-through-trade-1447893297",
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"sponsor": "Okusi Associates",
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