D-8 can raise their trade volume to $110b: Speakers
Speakers at the Business Forum of D-8 said the trade volume between the members countries could be raised to $700 billion, from the existing $110 billion.
Established in Istanbul in 1997, the D-8 is the economic group of eight Muslim countries - Turkey, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, and Pakistan.
They were speaking The D-8 Business Forum was organized virtually by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in partnership with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and D-8 Chamber of Commerce and Industry (D-8 CCI) on the sideline of the 10th D-8 Summit on Monday.
Bangladesh Foreign Minister Dr. A. K. Abdul Momen, MP was the chief guest while Bangladesh Commerce Minister Tipu Munshi, MP and Turkey Trade Minister Ruhsar Pekcan were the special guests at the forum.
D-8 Business forum commemorated the Birth Centenary of Father of the Nation of Bangladesh Bangabandhu Sheikh Mujibur Rahman.
During the Plenary Session of the D-8 Business Forum, the Bangladesh term of chairmanship of D-8 CCI was handed over to Sheikh Fazle Fahim.
Following the Plenary Session, three Breakout Sessions namely 'Integration of Technology and Innovation among D-8'; 'Youth, MSMEs and Startup Ecosystem, for inclusive growth' and 'Blue Economy, Marine Biotechnology and Resources' were held.
Chamber leaders of different countries including Fazle Fahim from Bangladesh, Ibrahim Mahmoud El Araby from Egypt, Shinta W Kamdani from Indonesia, Dr. Mohammad Reza Karbasi from Iran, Tan Sri Datuk Ter Leong Yap from Malaysia, Hajiya Saratu Iya Aliyu from Nigeria, Nasser Hyatt Magoo from Pakistan and Rifat Hisarciklioglu from Turkey addressed.
They discussed, science, research, business and investment opportunities and cooperation among the member countries.
Bangladesh Commerce Minister Tipu Munshi stressed on more assertive level for enhancement among the D-8 countries of Trade, Services, Investment and establishment of Industry, Small and Medium Enterprises, Entrepreneurship, Agriculture, Intra-Regional Tourism etc. Bangladesh Foreign Minister Dr. A. K. Abdul Momen, MP, emphasied on cooperation and collaboration among the private sectors of the D-8 countries.
Indonesian Vice Minister of Trade, Indonesia emphasized on establishing more reliable and sustainable supply chains, sharing common concerns and seeking commitment to ensure flow of goods and services among D-8 countries.
In the current Covid-19 situation, D-8 Business Forum stressed on developing an innovative collaboration mechanism among D-8 member states particularly in health sector. The Business Forum also agreed for extensive collaboration for sharing best practices, lessons learned, knowledge and technology.
The D-8 aims for Economic Cooperation to improve member states' position in the global economy, to diversify and create new opportunities in trade relations, to enhance participation in decision-making at the international level, and to improve standards of living.
At the forum FBCCI President Sheikh Fazle Fahim has assumed the term of the chairmanship of D-8 CCI from TOBB President Rifat Hisarciklioglu.