Trade>>HLTO

The world economy is emerging as an integrated, inter linked and interdependent economy. Creation of new multilateral trading system under the WTO regime has given further impetus to this globalization process. However, recurrent challenges in WTO negotiations has affected the developing countries efforts for greater access to the developed markets.

The developed countries’ stances on farm subsidies and tariff reductions have left no option for developing countries but to construct regional trading blocs and adopt common positions to secure favorable trade terms viz-a-viz developed countries. D-8 member countries also need to devise innovative approach and means to promote their trade. The PTA provide such a means. It can also provide a stepping stone for its eventual integration into multilateral trading system. 

The objectives of D-8 are to improve the developing countries’ position in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living.

During the D-8 Summit held at Bali, Indonesia, in May 2006, the Heads of State and Government underlined the crucial importance of intra-trade for the development of D-8 cooperation and the vital role of the private sector in this context; and welcomed the conclusion of two agreements i.e. Preferential Trade Agreement and the Customs Cooperation Agreement. 

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-11th High Level Trade Officials (HLTO) -- 9-10 October 2010, Istanbul-Turkey

Member Countries agreed to submit their revised Offer Lists with necessary corrections including the full product descriptions at all heading and subheading levels in their Offer Lists to D-8 Secretariat in order to bring clarity to facilitate the implementation of PTA. 

The meeting agreed and underscored that all Member Countries need to ratify PTA as soon as possible. After notification of the ratification of PTA by one more member, it will legally enter into force for all four countries and the rest of the countries will join them as soon as they are ready (Update: PTA has now been officially set into force as per 25 August 2011). Meeting encouraged the remaining countries, which have yet to ratify PTA, to do so as soon as possible.

The subsequent meeting was the 1st Supervisory Committee Meeting, which was successfully held in Istanbul on 22 March 2012.

  • -Commencement of Supervisory Committee of Preferential Trade Agreement (SC-PTA)

With the provisions of Article 34 of the “Preferential Trade Agreement (PTA) among D-8 Member States”, PTA officially entered into force between Iran, Malaysia, Nigeria and Turkey on 25 August 2011, to be followed by Indonesia on 4 October 2011 and Pakistan on 08 February 2012 - hereinafter referred to as the Contracting Parties.As per Article 27 of PTA, a Supervisory Committee should be established in order to prepare the grounds for the actual implementation of the Agreement.
the First Meeting of the Supervisory Committee of the PTA (SC PTA) was held on 22 March 2012 in Istanbul, Turkey. In this regard, the work of HLTO was finished, and subsequently substituted/continued by the SC-PTA.

The work of HLTO was finished. Subsequently, the work of this group has been substituted by the SC-PTA since 22 March 2012. 


D-8 Secretariat

Buyukdere Cad. No:100-102
Maya Akar Center K:22 D:87
Esentepe 34394 Istanbul
Turkey
Email: secretariat@developing8.org
Website: http://www.developing8.org
Tel : +90 212 356 18 23-24
Fax: +90 212 356 18 29


-7th Meeting of High Level Trade Officials of D-8 Countries (18-19 December2006 Islamabad- Pakistan) -Held

-8th Meeting of High Level Trade Officials of D-8 Countries (3-4 May 2007, Islamabad-Pakistan) - Held

-9th Meeting of High Level Trade Officials of D-8 Countries (27-28 March 2008, Islamabad-Pakistan) - Held

-10th Meeting Of High Level Trade Officials Of D-8 Countries (3 July 2008, Kuala Lumpur-Malaysia) - Held

-11th Meeting Of D-8 High Level Trade Officials of D-8 Countries (9-10 October 2010, Istanbul-Turkey) -Held