Inter-Islamic Economic Co-operation and Integration: Institutions, Strategies and Obstacles
The aim of this chapter is to discuss some problems and prospects of the efforts of the Islamic countries (member countries of the Organisation of the Islamic Conference, OIC1) to intensify their economic relations and to set up an integration scheme with the long-term goal of the establishment of an Islamic Common Market or Islamic Economic Unity. The group of Islamic countries includes some newly industrialising countries (NICs) for whom the inter-Islamic economic co-operation and integration may be seen as a specific approach for an outward-oriented industrialisation strategy. The first section of the chapter outlines the international economic environment and the institutional framework for the co-operation and integration efforts of the Islamic countries. Then, considering the experience of existing non-Islamic integration groupings where Islamic countries are members, major problems for an Islamic integration policy will be highlighted and some perspectives for the future indicated.
KeywordsTrade Liberalisation Custom Union Free Trade Area Custom Duty Islamic Country
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Notes and References
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