The D-8 workshop organised by the Small and Medium Enterprise Development Authority (SMEDA) on “Data Collection, Classification and Management of SMEs” concluded here with a consensus to develop a Common Data Bank for helping SME development process in the member countries.

Murat Alper Ozturk, Expert, Turkish Ministry of Commerce, Dr Noor Mohammad Larik, Consultant Comsats and Iftikhar Hussain, General Manager (Central Support), SMEDA addressed the two working sessions, whereas Mohammad Waheed-ul-Hassan, Director-General (EC), Ministry of Foreign Affairs, wrapped up the whole deliberations during the two-day proceedings.

The delegates unanimously suggested pooling the best practices being exercised in the D-8 countries for development of SME sectors.

They were of the opinion that all such information and data should be made available online for ready reference and utilisation of member countries. Later, Mohammad Waheed-ul-Hassan, Director General (EC), Ministry of Foreign Affairs, in his address, observed that the two-day proceedings of the current D-8 workshop had paved a strong way for future cooperation amongst the member countries to achieve tangible economic gains through SME development process.

He said that D-8 forum would soon result into the Preferential Trade Agreements (PTA) to be signed in between the member countries. Once the Rules of Origins are set PTAs would start emerging, he said adding that High Level Trade Officials (HLTO) meeting in this regard is expected to take place on May 3-4, 2007.

Earlier, a report, presented by the organiser, revealed that D-8 comprising eight countries; Indonesia, Iran, Malaysia, Turkey, Pakistan , Bangladesh, Nigeria and Egypt were covering 13 per cent of the world’s population.

But, their share in the global trade was limited to 4 per cent only. Hence, total trade of the D-8 member countries with rest of the world amounts to $400 billion.

Given these facts, the report claimed that D-8 countries had a potential to increase this figure manifold through promotion of small and medium enterprises.

State Minister for Foreign Trade Kürşad Tüzmen has said the trade volume among the “Developing Eight” (D-8), an economic group of eight large Muslim countries, has already reached $11 billion and that Turkey is gearing up to help that figure grow still further.

Tüzmen received D-8 General-Secretary Dipo Alam, who is in Turkey for an official visit, in his office at the Undersecretariat of Foreign Trade in Ankara yesterday. Before the talks Tüzmen and his guest answered questions from the press.

The reason for Alam’s visit was to discuss possibilities for improving foreign trade, assisting the citizens of G-8 member countries in contracting projects and regulating Eximbank to ease trade, said Tüzmen. The first target is to increase the trade volume to $15 billion in the mid-term, Tüzmen noted, and added: “We have to do everything we can to reach this aim. The contribution of D-8 countries to trade among themselves is very low, despite their dynamic foreign trade. We will certainly increase it.”

Alam also noted the high potential for trade within the group and said evaluation of this potential was of crucial importance.