D8 wants trade among members doubled

Karachi, Pakistan | May 20, 2007 by D-8 Secretariat

A roadmap for trade between members of D8 organisation is being prepared to double the intra-group trade to over $60-70 billion within 10 years.

Secretary General D8 organisation Dr Dipo Alam said this while addressing the Karachi Chamber of Commerce and Industry here.The present global trade of the eight countries is over $750 billion and the combined population is over 900 million, he said.

Dr Alam, who is from Indonesia and on a short visit to Karachi, said this decade-old organisation is primarily on a government-to-government level, but the new thinking is to involve the private sector and make D8 more private sector-oriented.

He said that the eight Muslim countries, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey, have signed a Preferential Trade Agreement among themselves, although they have not yet ratified it.

He said that D8 countries could soon take advantage of trade with ASEAN countries through Malaysia and Indonesia. He said visa, customs and shipping agreements have already been reached within the D8 membership.

Dr Alam, accompanied by senior Indonesian diplomat Hikmat Moeljawan, also stated that a process of sectoral dialogue is being initiated such as jewellery development, fruits and fisheries, large-scale manufacturing investment, etc through 15 working groups.

Earlier, Majyd Aziz in his presentation called for setting up a designated group of the largest chambers in each country and that this Chambers’ Group could become the focal point in each country and set up a D8 Cell in each chamber.

He said that common exhibitions, position papers, and proposals could be done through this Group. Moreover, a continuous flow of information and exchanges of delegations could be undertaken. He offered the services of Karachi Chamber of Commerce and industry in this regard. He also presented the progress of the My Karachi exhibition, which would be held by KCCI from June 01-03.

Dr Alam appreciated the proposal of KCCI and advised that the Chamber should present a formal proposal that would be deliberated upon in the D8 headquarters and a decision to this effect might be taken soon.

Hikmat Moeljawan assured KCCI that the Indonesian Consulate General in Karachi would continue to provide maximum cooperation and support to KCCI and that is why Indonesian firms have been the first to reserve stalls and participate in the My Karachi exhibition.

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