MATRADE BAGS IDB'S ISLAMIC SOLIDARITY PRIZE

KUALA LUMPUR, Oct 24 (Bernama) -- Malaysia External Trade Development
Corporation (Matrade) has been awarded the Islamic Development Bank's (IDB)
Islamic Solidarity Prize for its efforts in promoting trade among Organisation
of the Islamic Conference (OIC) member nations.

In a statement here Friday, Matrade said the prize was "to recognise,
reward
and encourage any activity of outstanding merits in promoting works in Islamic
economics, banking and finance towards the realisation of the Islamic
value".

Matrade is Malaysia's national trade promotion agency which functions as a
focal point for exporters and foreign importers to source for
information.

Matrade chief executive officer, Noharuddin Nordin, who accepted the award
in Istanbul Thursday, said it was an endorsement of its commitment to
promote trade between OIC members as well as trade based on Islamic
precepts.

"To boost trade and promote Islamic trade and commerce, Matrade has set up
a
secure foundation of strategic programmes that will realise both these
goals.

"Our efforts in promoting halal products and services globally, our ongoing
series of marketing missions to the Middle East and a programme to unlock the
trade potential between OIC nations has enabled Matrade to position itself as a
role model and champion of global Islamic trade," he said.

Noharuddin said the agency was also involved in training officials from OIC
countries under the Malaysian Technical Cooperation Programme and in
collaboration with the Islamic Development Bank.

For the first eight months of this year, Malaysia's total trade with the
OIC member nations rose by 36.1 per cent to RM81.19 billion (US$22.7
billion)compared with RM59.67 billion (US$16.6 billion) in the corresponding
period in 2007.

Malaysia's exports to OIC members increased by 36.3 percent to RM45.53
billion (US$12.6 billion) from RM33.41 billion (US$9.3 billion) in 2007.

Imports increased by 35.8 per cent to RM35.66 billion (US$9.9 billion) from
26.26 billion (US$7.3 billion) in 2007.

Malaysia's top three trading partners within the OIC were Indonesia, United
Arab Emirates and Saudi Arabia, recording trade worth RM31 billion (US$8.6
billion), RM13.6 billion (US$3.8 billion) and RM7.68 billion (US$2.1 billion)
respectively.

Exports to OIC member nations include electrical and electronic products,
chemicals and chemical products, palm oil, machinery, appliances and parts as
well as processed food while imports comprise crude petroleum, chemicals and
chemical products, refined petroleum products, palm oil and manufacture of
metal.

Since its establishment in 1988, Matrade is the first institution to win
the prize under the category of trade promotion among OIC member states.
Apart from Matrade, only three other institutions have been awarded the
prize in the past -- Malaysia's Tabung Haji (Pilgrim Fund), Saudi Arabia's King
Abdul Aziz University's Centre for Research in Islamic Economics and Pakistan's
International Institute of Islamic Economics.

The prize was awarded at a special ceremony during the 24th Ministerial
Session of the Standing Committee for Economic and Commercial Cooperation of the
OIC.
Turkish President, Dr Abdullah Gul, presented the award.
-- BERNAMA