D-8 Set Off the 27th Session of the Commission Meeting in Kuala Lumpur, Malaysia
Kuala Lumpur, Malaysia | October 31, 2009 by
The 27th Session of the Group of Eight Developing Countries (D-8) Commission deliberated on various issues and matters concerning the grouping, among them private sector participation and economic cooperation in Kuala Lumpur, Malaysia in 30-31 October 2009
The 27th Session of the Group of Eight Developing Countries (D-8) Commission deliberated on various issues and matters concerning the grouping, among them private sector participation and economic cooperation in Kuala Lumpur, Malaysia in 30-31 October 2009, reports the Malaysian News Agency BERNAMA.
Speaking to Bernama at the end of the two-day closed session, the D-8 Commissioner of Malaysia Zainol Abidin Omar said that other matters discussed were the presentation of the Report of the D-8 Secretariat by the grouping’s Secretary General Dipo Alam and consideration and adoption of the calender of events for 2009/2010 and adoption of reports.
Zainol Abidin said the organisation could be considered as quite new, about 12-years only and as such the first few years were devoted to areas such as organisational matters.
He said under Malaysia’s chairmanship since last year, efforts had been put to find ways to promote economic cooperation and enhance the participation of the private sector in D-8.
“At the moment we do not have any mechanism where the private sector will be involved,” he said.
In this context Zainol Abidin said that the D-8 was trying to identify suitable and implementable projects that would attract private sector participation.
Zainol Abidin who chaired the meeting said that also discussed were the activities for member countries, consideration of the offer lists under the D-8 Preferential Trade Agreement (PTA) and the ratification status of the PTA as well as Visa Agreement and Customs Cooperation Agreement.
The PTA was signed in Bali in 2005 and when it comes into force, the D-8 would see greater intra-trade among the members.
Tomorrow, discussion would focus on several other matters, such as on the draft D-8 charter and consideration of the priority list of areas of cooperation.
The Commission is the executive organ of the D-8.
D8 was established on June 15, 1997, in Istanbul and members comprise Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
Malaysia took over the chairmanship of D-8 last year. Its member countries have a combined population of about 900 million and are rich in economic resources.
The grouping aims to be the mechanism for cooperation in the economic sector through sharing of expertise in order to improve the position of member countries in the global economy.
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11:01 pm on November 20th, 2009
According to statement by D-8 Commissioner of Malaysia Zainol Abidin Omar, “At the moment we do not have any mechanism where the private sector will be involved,” he said.Basically, it might be have an options to attract private sector involve directly on PTA. The most an important idea is that to understand in depth content of products offer by member states it self neither it really significance within other member states need and want.Why need learn and hear from them? Generally, every states they have their capability and resources should be explore neither by those states or assistance by other member states. Means that PTA not only focusing about trade itself but also indirectly related with FDI (out and in). For example if country like Bangladesh they have huge fisheries resources but they lack of expertise in fisheries science and technology, so Malaysia and Indonesia had experienced in deep sea fisheries should be work hand in hand to develop through investing at Bangladesh.Hence organisation, company and research institute could invest in term of technical assistance, skills and research as well as capital if it necessary to do.
In term of Institution, my opinion amongst the members states this is the right time for them to invite D-8 member states Business Council to co-operate amongst themselves on Data base such exchange data base of company in specific area. Hence, at least their counterparts could share information for further joint venture, cooperation, FDI etc. which it absolutely will be enhancement private sector to joint any activity related to trade and business. Means role by member states Business Council must be clear uderstand by the Commision and domestic actor as well and vis versa. Here, every each respective Commision and Agency in particular sector and industry must be aware what are demanded by their counterparts related to products and goods. Indirectly it will attract SMEs and MNCs for respective memberstates to invlolve what ever community bsuiness and trade event. Further I hope D-8 will be enhancement by cooperation between G to G ad well amongst private comapny in D-8.Insyallah , D-8 will be nice plan when each actor and player understand their plan and strategy.
Madzli bin Harun, PhD in International Trade Policy and Law, BELGIUM.