Iran proposes to create a single market of Muslim countries

Almaty. November 13. Silkroadnews - Islamic Republic of Iran (IRI) has proposed to create a single market of the Muslim countries, reports the Iranian News Agency (IrTAG).
This statement was made by Minister of Industry and Commerce of Iran Mohammad Rizo Nematzade during his speech at the international conference of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC - structure of the Islamic Development Bank), which was held yesterday in the Jordanian capital - Amman.
According to the Iranian minister, the creation of such a market among Muslim countries will contribute to the development of their national economies, creating real conditions for the growth of the welfare and prosperity of the peoples of these countries.
"Islamic countries occupy 25% of the land on earth, but they account for no more than 12% of world trade. At the same time, much of the energy and hydrocarbons discovered on the territory of these countries, but only a small fraction of the total volume of world trade is carried out in these resource-rich countries", - he said.
According M.Nematzade, Muslim states must seriously study the issue of harmonization of legal acts and tariff policy in regard to foreign trade and economic relations.