D-8 Organization is scheduled to meet for 9th HLTO in March 2008
Islamabad, Pakistan | February 29, 2008 by
D-8 Organization is scheduled to meet for the 9th HLTO (High Level Trade Official) in Islamabad, Pakistan, in March 27-28, 2008 to discuss the finalization of Rules of Origin (RoO).
It is expected that this meeting will be the last round to discuss RoO, so that the PTA which has been signed by head of states in Bali, Indonesia, in May 2006 can be fully ratified. D-8 Secretary General, Dipo Alam, believes that once RoO is implemented and PTA is ratified, the intra-trade volume among D-8 countries will soar. It is expected that within 10 years of time, the total trade volume of D-8 shall increased from 750 billions US$ to nearly 1 trillion US$ — considering that the average growth of D-8 countries is above 5%. Thus, the intra-trade among D-8 can reach around 15-20%. This success will hopefully accelerate the growth of intra-trade among other member states of OIC (59 states), which in turn will be a propelling success to the increase of South-South trade, since the population of D-8 of more than 800 million peoples represent the majority of developing countries.
D-8 Organization is known to have close trade arrangements among her member states. Turkey, for example, has FTA with Egypt, Indonesia, Malaysia (through ASEAN FTA); and soon Indonesia will also have FTA with Pakistan.
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