REPORT & RESOLUTIONS ON THE ECONOMIC AFFAIRS

TO THE FIFTH ISLAMIC SUMMIT CONFERENCE

(SESSION OF AL-QUDS AL-SHARIF, CONCORD AND UNITY)

HELD IN KUWAIT, STATE OF KUWAIT

Resolution No .l/5-E(IS)
on conduct of activities of the Standing Committee for Economic and Commercial Cooperation.
Resolution No. 2/5-E(IS)
on the Standing Committee on Scientific and Technological Cooperation(COMSTECH).
Resolution No. 3/5-E(IS)
on the implementation of the Plan of Action to Strengthen Economic Cooperation among the Member States.
Resolution No .4/5-E(IS)
on the establishment of a Longer-term Trade Financing Scheme within the Islamic Development Bank.
   

RESOLUTION No. 2/5-E (IS)

ON THE STANDING COMMITTEE ON SCIENTIFIC AND TECHNOLOGICAL COOPERATION (COMSTECH)

The Fifth Islamic Summit Conference, the Session of Islamic Solidarity, held in Kuwait, The State of Kuwait, from 26-29 Jumada Al Oula, 1407H corresponding to 26-29 January, 1987;

 
Recalling Resolution No.2/4 -ORG (IS) adopted by the fourth islamic summit held in casablanca , kingdom of morocco , 1n 1984 , approving the COMSTECH S&T plan of action and mandating IFSTAD to carry out feasibility studies of the projects approved by COMSTECH and calling upon member states to fulfill their pledges to IFSTAD ;

 
Noting the report of the proceedings of the third meeting of COMSECH held a Islamabad from 15-18 Rabi-Al Awal 1407H (19 - 22 November, 1986 under the Chairmanship of H. E. President Mohammad Zia-ul-Haq of the Islamic Republic of Pakistan which reviewed activities of the relevant OIC Institutions progress of the implementation of COMSTECH Plan or Action and recommended proposals for future action for the achievement of the objectives of the COMSTECH Plan of Action;

Taking note of the report presented by the Chairman, COMSTECH, H. E. President Mohammad Zia-ul-Haq of the Islamic Republic of Pakistan and resolutions and recommendations or the third fleeting of COMSTECH;

Noting with satisfaction the concrete steps taken and progress achieved towards the implementation of the approved Plan of Action plan including:
a) the establishment or the Islamic Academy of Sciences,. appreciating the offer of the Hashemite kingdom of Jordan to provide the Headquarters as well as auxiliary support for the Academy;
b) The designation of IFSTAD as Secretariat of the Islamic federation of Research Institutes of OIC Member States (IFRI) which does not. entail any additional. financial obligations on the part of Member States;

Taking into consideration the need to avoid new financial obligations on the part or Member- States ;

l- Approves the enlargement of the membership of COMSTECH so as to enable all Member States of the OIC to participate in the work of the Standing committee 
2.-Commends the desire of interested Member States to establish Inter-Islamic Networks in the following six areas; these Networks shall be financed by the Participating states;
(i)Oceanography ,with headquarters in Turkey.
(ii)Bio-technology, with headquarter in Egypt.
(iii)Tropical Medicine, with headquarters in Malaysia.
(iv) Water Resources, with headquarters in Jordan.
(v) Space Research Technology and Applications, with headquarters in Pakistan
(vi) Renewable Energy Resources, with headquarters in Pakistan.
and asks IFSTAD to assist in their implementation as proposed by expert; group meetings.
3-Welcomes the proposal for co-operation between COMSTECH and COMCEC in the areas of common interest to Member States.
4. Praises the desire of interested Member States to establish an Islamic Countries Research Activation Agency (ICRAA) to be financed only by the participating Member States with a view to promoting co-operation among Islamic Countries in the advance technology fields and mandates IFSTAD to expedite necessary action on it.
5- Approves the proposal concerning cooperation aimed at enhancing the scientific and technological capabilities of the least developed Islamic countries and requests IFSTAD to provide technical assistance in making a survey of the scientific and technological needs of the least developed Islamic countries and to, elaborate a scenario for providing assistance to these countries, to be submitted to the OIC Member States wishing to participate in the project, and invites the Secretary General to provide assistance to this program. 
6- Invites the Islamic Development Bank to consider the. establishment of ah Islamic Information Center in Jeddah appropriately linked through terminals with Member States of the OIC.
7- Requests the Islamic conference of Foreign Ministers to review and adopt appropriate amendments to the Charter of IFSTAD so as to take due consideration of the experience gained and the actual need for cooperation in the fields of science, technology and training among Muslim countries.
8-Welcomes initiative of the Republic of Turkey and the Islamic Republic of Pakistan in opening the facilities of some of their R & D Institutes to other Member States for advice, training and research and expresses the hope that other Member States will also take similar initiatives to increase co-operation among the OIC Member States.
9-Expresses concern over the fact that only US$ 1.340 millions (One million three hundred and forty thousand US dollars) have been contributed by Member States as against the amount of US$ 25 million (Twenty five million US dollars ) approved by the Fourth Islamic Summit Conference and calls upon Member States to come forward with their contributions to enable COMSTECH to discharge its mandate.
10-Also calls upon the Islamic Development Bank to favorably consider requests for funding S & T projects which are eligible under the rules framed for disbursement from the special fund and expresses its appreciation to the countries that contributed to the financing of the activities of the Standing Committee. 
11-Requests the Member States to extend all possible moral and material assistance to the Executive Committee of COMSTECH and IFSTAD to enable them to accelerate the pace of implementation of the COMSTECH Plan-or Action.
12.-Expresses its profound gratitude to H.E President Mohammed Zia-ul-naq of the Islamic Republic of Pakistan, the Chairman of COMSTECH for his sustained interest and patronage in implementing the Plan of COMSTECH and his devotion to the cause of promoting science and technology in the Islamic world.

RESOLUTION NO. 3/5-E(IS)

ON THE IMPLEMENTATION OF THE PLAN OF ACTION TO STRENGTHEN ECONOMIC COOPERATION AMONG THE MEMBER STATES OF THE OIC

The Fifth Islamic Summit Conference, the Session of Islamic Solidarity, held in Kuwait, The State of Kuwait, from 26-29 Jumada Al Oula, 1407H corresponding to 26-29 January, 1987;

Recalling Resolution No. 1/3-E(IS) of the Third Islamic Summit Conference held in Makkah Al Mukarramah, , Kingdom of Saudi Arabia, in 1981 adopting the plan of Action to Strengthen Economic Cooperation Among Member States, which at the same time assigns the General Secretariat the task of taking all necessary steps to follow-up the implementation or its recommendations and arranging meetings on periodical basis at ministerial level as often as deemed necessary, in order to;
(a) review the progress on work done
(b) set out guidelines
(c) solve problems, and
(d) formulate policies and plans for future action;

Recalling Resolution No. 13/3-P(IS) of the Third Islamic Summit Conference, establishing the Standing Committee for Economic and Commercial Cooperation and the Standing Committee on Scientific and Technological Cooperation with the mandate ;
i) to follow-up the implementation of the resolutions adopted, or to be adopted, by the OIC in relation to economic and commercial cooperation and scientific and technological cooperation;
ii) to study all possible means of strengthening cooperation among Member States in the relevant fields; 
iii) to draw up programs and to submit proposals designed to increase the capacity of the Member States in economic, commercial, scientific and technological fields.

Recalling Resolution No. l/4-EF(IS) adopted by the Fourth Islamic Summit Conference held in Casablanca, Kingdom of Morocco in 1984, on the Plan of Action to Strengthen Economic Cooperation among Member States;

Appreciating the efforts exerted by the General Secretariat in following up the implementation of recommendations contained in the Plan of Action and the commendable progress achieved thereby;

Also appreciating the efforts and assistance by the Statistical, Economic and Social Research and Training Center (SESRTCIC), Islamic Center for the Development of Trade (ICDT), Islamic Foundation for Science, Technology and Development (IFSTAD), Islamic Chamber of Commerce, Industry and Commodity Exchange (ICCICE), Islamic Center for Vocational and Technical Training and Research (ICTVTR), Islamic Development Bank (IDB) in the implementation of the Plan. of Action;

Noting with- satisfaction the activation of the OIC Standing Committee on Economic and Commercial Cooperation under the Chairmanship of H. E. President Kenan Evren of the Republic of Turkey, and. the Standing Committee on Science and Technology under the Chairmanship of His Excellency Mohammed Zia-Ul Haq, President of the Islamic Republic of Pakistan, in pursuance of the decision of the fourth Islamic Summit Conference to promote and strengthen economic cooperation among Member States in implementation or the Plan of Action;

Noting with appreciation that the First and Second Meetings of the Standing Committee on Economic and Commercial Cooperation were convened in Istanbul Republic of Turkey in November, 1984 and March, 1986 respectively;

Noting also with appreciation that the Standing Committee on Science and technology has, in it, three meetings, elaborated a comprehensive Action Program for fostering cooperation among Member States in the field of Science and technology;

Expressing thanks and appreciation to the Republic of Turkey for hosting the Ministerial Conferences on Trade, Industrial Cooperation and Food Security and Agricultural Development, which provided necessary guidelines for the implementation of the Plan of Action, in these three vital sectors;

Taking note of the report submitted by the General Secretariat highlighting the stages reached in the implementation of the Plan or Action;

Further noting with satisfaction the program of meetings and other activities planned by the Standing Committee for Economic and Commercial Cooperation and the Standing Committee on Science and Technology up to 1990 in implementation of the Plan of Action which would require full and constant material and technical support by the Member States to attain the objectives. set out in the Plan of Action;

Also noting with concern the constraints which have impeded the implementation of .the Plan of Action in certain sectors, due to financial limitations., lack of data and-information, and the slow response of Member States;

Noting that the Standing Committee on. Economic and Commercial cooperation and the Standing Committee on Scientific and Technological Cooperation have adopted as the basis of their activities the implementation of the Plan of Action to strengthen Economic , Commercial, Scientific and Technological cooperation among the Member States with special emphasis on the priority areas as designated by the Fourth Islamic Summit Conference;

1- Requests the Member States. to render necessary assistance to the Standing Committee on Economic and Commercial cooperation and the Standing Committee on .scientific and technological Cooperation to expedite the implementation of the Plan of Action in order to strengthen economic and technical cooperation among Member States 
2- Welcomes the establishment of the Longer-Term Trade Financing Scheme under the Islamic Development Bank and urges all Member States to participate in this scheme as soon as possible to facilitate its optimum .utilization.
3- Welcomes the offer of the Government of the Islamic Republic of Pakistan to host the Third Ministerial Conference on Food Security and Agricultural Development.
4- Notes with satisfaction the holding of the first meeting of the OIC Ministers of Transport and Communications in September 1987 simultaneously with COMCEC-III and decides to convene a meeting of the Group of Experts to consider the possibility of pooling the resources and capacities including maintenance, repair and training services among the aviation companies, of Member States. 

RESOLUTION NO. 4/5-E (IS)

ON THE ESTABLISHMENT OF A LONGER TERM TRADE FINANCING SCHEME WITHIN THE. ISLAMIC DEVELOPMENT BANK

The Fifth Islamic Summit Conference, Session of Islamic Solidarity, held in Kuwait,. the State of Kuwait, from 26-29 Jumada Al Oula 1407H, corresponding to 26-29 January, 1987;

Cognizant of the important role played by the Islamic Development Bank in the financing of the projects conducive to economic, social and technological development of the Member States;

Noting with satisfaction the Trade Financing Operations of IDB which provides impetus for the efforts to expand intra-OIC trade;
Appreciating the timely completion of various studies referred to IDB by the General Secretariat of the OIC, especially by the Standing; Committee for Economic and Commercial Cooperation and the Standing Committee on Scientific and Technological Cooperation;

Noting with particular satisfaction the invaluable efforts exerted by IDB during the establishment of the Longer Term Trade Financing Scheme under it, aiming to promote non-traditional exports among Member States of the OIC

1-Notes with appreciation the establishment of the Longer-Term Trade Financing Scheme under the Islamic Development Bank and the approval by IDB. of the Regulations and operational Guidelines of the Scheme;
2.-Urges Member States to complete the necessary formalities that will enable their participation in the Scheme at an early date. 
3. Also urges Member States to make timely payment of their subscriptions to the capital of the Islamic Development Bank so that it can continue to function effectively for the benefit of Member States.