PUSHING MIDDLE EAST TRADE OPPORTUNITIES WITH ICT PLATFORM

B2B Resurgence May Herald Overall Economic Recovery - OICnetworks Believes Malaysia Can Generate USD500 Million If ICT Techniques Are Adopted Quickly

(PRWEB) January 22, 2003

KUALA LUMPUR --- As optimistic reports from research firms hail the revenue potential of the fast growing business-to-business (B2B) market, OICnetworks Sdn Bhd is pushing for Malaysian entrepreneurs, SMIs and SMEs to adopt a new mind set to trade using the ICT platform http://www.oictrade.com.

A report from the GartnerGroup has projected that worldwide B2B e-commerce revenues will reach USD7.3 trillion by 2004 with Asia generating USD1 trillion. OICnetworks believes Malaysia can generate USD500 million if ICT techniques are adopted quickly.

“Creating and implementing the technology needed for B2B e-commerce is the easy part. The challenging element of the equation is moving the buyer-seller relationship onto the web,” said Dr Ishkandar Baharin, president and chief executive officer of OICnetworks Sdn Bhd.

In promoting OIC trade, the company is organising a series of seminars and workshops to cultivate the use of ICT as the competitive trading advantage in global markets with emphasis in the OIC (Organisation of Islamic Conference) countries where a 1.3 billion population, the size of China and one-third of the world’s population, exists.

OICnetworks, a joint-venture between MIMOS and the Islamic Development Bank of Jeddah, is aiming at a 4,000 take up on subscription for the OICtrade ICT platform by year 2005.

“This year, our immediate focus will be subscribers from Malaysia, Indonesia, Bahrain, Saudi Arabia and the United Arab Emirates. We are working closely with the Islamic Chamber of Commerce and Industry, the respective governments as well as the network of the Islamic Development Bank,” he added.

Two more countries with appointed country representatives will be incorporated this year, namely, Iran and Pakistan, the statement said.

Malaysia’s diverse range of products and services at competitive rates and quality, are highly attractive to the 57 OIC markets that currently buy from the Western countries.

The need to tap these markets have not reached its full potential and it would be to the advantage of Malaysian entrepreneurs, SMIs and SMEs to explore opportunities leveraging on business intelligence, networking, reduced risks, financial facilities from IDB and the OICtrade modules.

“We are more than just a B2B website as OICtrade provides modules in trade information, promotion, transaction, implementation, trade closure, system accessibility and operational support,” he said.

A number of OICtrade seminars and workshops are planned for 2003 with the first in early March this year at a leading hotel in Kuala Lumpur. The OICtrade modules will be offered at discounted rates to those who sign up early.

“We aim to work with the associations of SMIs, SMEs and FMM to boost Malaysia’s trade with the 57 OIC member countries,” he added.

Speakers for the forthcoming OICtrade seminar include Mr Waleed A J Addas, country representative for the Islamic Development Bank who will provide insights into trade financing where a USD2 billion revolving fund from the IDB is available to Malaysians. He will also speak on leveraging IDB’s facilities, reputation, experience and networks in the OIC countries.

Those keen to participate can contact Norhayati Sulaiman-Adzhar, Adam Fahmy Shamsudin and Normah Ibrahim at OICnetworks Sdn Bhd at 03 22601180.

NEWS RELEASE PREPARED AND ISSUED ON BEHALF OF OICNETWORKS SDN BHD BY PUBLIC RELATIONS CONSULTANT FIRM GHAZALIE RAFEAH ALI & ASSOCIATES SDN BHD. FOR MORE INFORMATION, PLEASE CONTACT –

• NORHAYATI SULAIMAN-ADZHAR (OICNETWORKS) 6 03 2260 1180 / 6 012 3246303

• SHAFIRA D KAMARUDZAMAN (GRA PR) 6 03 7660 9950 / 6 012 6982006

• NAFISA AMEEN (GRAPR) 6 03 76609950