"This is necessary to promote and protect our individual and collective interests," she told the Organisation of Islamic Conference (OIC) Business Forum at Putrajaya Mariot Hotel last night.

The Bangladesh prime minister was speaking at the dinner session hosted by the business forum on the opening day of its two-day meeting.

Co-organised by Asian Strategy and Leadership Institute (ASLI), Malaysia's Ministry of Foreign Affairs, the OIC and Malaysian South-South Association, the two-day meeting will discuss opportunities for business collaboration and smart partnerships.

Government leaders, captains of industry, regional experts, and corporate managers are attending the business meet.

Malaysian Prime Minister Mahathir Mohamad presented a keynote address on "Toward a Renewed OIC: An Agenda for Peace and Prosperity" during a special session in the afternoon.

Sudanese President Omar Hasan Ahmad Al-Bashir, Malaysian Foreign Minister Syed Hamid Albar, OIC Secretary General Abdelouhed Belkeziz, Egyptian Minister for Foreign Trade Youssef Boutros-Ghali, Malaysian Deputy Prime Minister Abdullah Bin Haji Ahmad Badawi and Islamic Development Bank President Ahmad Mohamed Ali also spoke in different sessions yesterday.

The dinner session titled "Islam versus Modernisation: A challenge for the Muslim Societies" was also addressed by Indonesian Presi-dent Megawati Soekarnoputri, Algerian President Abdelaziz Bouteflika, Malaysian Defence Minister Haji Mohd Najib Bin Tun Haji Abdul Razak, Turkish Deputy Prime Minister and Minister for Foreign Affairs Abdullah Gul and ASLI President Mirzan Mahathir.

The business forum would form a platform to promote multilateral support that would ultimately help enrich member countries.

The forum will also address the multiple challenges confronting the Muslim societies, such as globalisation, bridging the digital divide, smart partnership between public and private sectors, the dynamics of Islamic financial instruments and their global potential, harnessing media and communications technology, managing risks and diversity, as well as promoting economic integration for the benefit of the Muslim world.

Khaleda said many countries in the Islamic world today are striving to apply Islamic laws for regulating their business and remain engaged in fair and just trade.

Regretting that intra-OIC trade remains negligibly low, the Bangladesh leader said, "We must intensify cooperation amongst ourselves with the ultimate objective of establishing the much-cherished Islamic Common Market."

She said Islamic nations must look at themselves closely and ask how much the Muslims have done for one another.

Referring to trade negotiations under the umbrella of WTO, Prime Minister Khaleda said what the developed and developing countries are negotiating today had been clearly outlined in the Holy Quran and the Sunnah more than 14 centuries ago.

Khaleda said trade and commerce have always been a part of Islam, which also clearly defines the business ethics. All Muslims are urged to be fair and equitable in conducting trade.