DHAKA: On the occasion of the 17th anniversary and the upcoming 9th D-8 Summit in 2014, the D-8 needs to underline and formulate new strategies, policies and measures to enhance effectively D-8 cooperation with joint efforts at overcoming basic problems and to achieve economic development, particularly by increasing D-8 intra-trade.
This is in addition to the countries’ efforts to provide employment, reducing poverty, increasing investments, upgrading industrial and infrastructure development, hence progressing economic development and social welfare.
The call came from a press release on the occasion of the 17th Anniversary of the Establishment of the D-8 Organization for Economic Cooperation to be observed at Istanbul of Turkey.
The Advancement Cooperation Conference, held in 22 October 1996 in Istanbul at the initiative of late Professor Necmettin Erbakan, then Prime Minister of Republic of Turkey, initially started the formation of the D-8 Organization for Economic Cooperation with eight developing countries namely Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
On June 1997, with the participation of Heads of States from the D-8 Member States in Istanbul in Ciragan Palace, the D-8 was officially established and its establishment was declared through historic Istanbul declaration.
The D-8 founders set up the objectives of the Organization to improve its member states’ positions in the world economy diversify and create new opportunities in trade relations and provide better standard of living.
Since its establishment, the D-8 has achieved several outstanding progresses in formation of principal organs namely the Commission, Council and Summit.
The D-8 Organization was also able to finalize several Legal Documents and D-8 Agreements in the last decade including the adoption of the Charter during the 8th Summit back in December 2012 was one of imperative achievements for the Organization.
The organization has also produced D-8 Roadmap and D-8 Global Vision, which played a vital role as the guideline for practical approach.
The entries into force of the Visa Agreement, Customs Agreement and Preferential Trade Agreement (PTA) also served an important role to facilitate and promote actual cooperation among the Member States, particularly in the field of trade sector.
It is expected that these agreements enhance the intra-D-8 trade volume from around US$ 133 billion or 7.4 percent of the total trade with the world in 2013 to around US$ 500 billion or 10-15 percent by the year 2018, as envisaged by the Roadmap.
In order to achieve this target, the Organization has identified several areas of cooperation, which would in fact has direct and indirect influence on the level of D-8 intra-trade.
These areas such as trade, agriculture & food security, industry & SMEs, transportation, energy, communication and information, finance, banking and privatization, science and technology, poverty alleviation and human resources development, environment, health, tourism, and culture. Among these areas, the Organization has given priority to five areas of cooperation, name Trade, Agriculture & Food Security, Industry & SMEs, Transportation and Energy due to its high impact on the D-8 intra-trade.
Member States shall explore different opportunities to promote, develop and strengthen relations and projects among themselves through related working groups, task forces and workshops as well as at Ministerial meeting level.
The D-8 organization will be completing the first phase of its life cycle after the inception of the Organization by the 9th Summit in 2014 in Turkey.
BDST: 1634 HRS, JUL 01, 2014
