NSTnation: “There is a lot we can benefit from, if we increase trade among Muslim countries.
Economic Affairs Minister Datuk Seri Azmin Ali said foreign direct investment within Muslim economies would stimulate wealth creation of Muslim economies.
Azmin also urged richer and better-resourced Muslim countries to mobilise their resources to help in the development of human capital of the less-developed Muslim countries. “With a combined population of 1.7 billion Muslims around the world, not only are we rich in resources, but we are also rich in human capital,” he added.
Although some Muslim countries are rich in natural resources, Azmin said reliance on resource-based industries had resulted in under-developed economies where resources were not exploited efficiently and productivity remained stagnant. “We also look towards enhancing our cooperation with Turkey, which has an advanced defence industry and now produces over 70 per cent of its own military equipment,” he said, adding that Turkey was one of the four most advanced drone manufacturers in the world.
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