D-8 countries economic outlook

November 24, 2012 | By More

The present volume of trade among the D-8 countries is around 129 billion dollars which is pledged to be taken to 500 billion dollars by the end of 2018. Affirm commitment of D-8 countries head of states ensuring peace, democracy, solidarity, moderation and tolerance can bring the trade to the desired level, as these are the core values that shall help forge stronger economic cooperation among the D-8 block.

There is a great potential of trade and investment among the D-8 countries which needs to be fully exploited for the well being and prosperity of the people. The private sectors of these countries should be given the opportunities to interact freely eliminating barrier to trade and investment. The direct flight connections among the D-8 block can help enhance commercial activities because of easy traveling and time savings . The trade promotion organizations have to play an active role for easy flow of information about available opportunities in different sectors.

The chambers of commerce & industry through closer cooperation and exchanging maximum number of business delegations can play a vital role in enhancing trade. The governments of these countries should greatly facilitate in grating multiple entry visas to encourage people to people contact. The economic and commercial sections of D-8 countries should play an active role in identifying trade and investment opportunities and must pass on market study reports to the respective countries to develop business linkages.

The D-8 countries should support each other in the areas of their strength encouraging technical cooperation, human resource utilization, public private partnership in energy sector which is considered backbone of economic growth and development of any country.

The signing of Preferential Trade Agreement (PTA) shall help enhance the trade and economic cooperation within the D-8 block. Bangladesh and Egypt should ratify PTA to generate greater economic activities in the D-8 countries.

This report gives the economic outlook of D-8 countries, priority areas of cooperation and Roadmap of D-8 Countries for Second Decade of Cooperation (2008-2018) that states “By the end of the Second Decade of D-8 Cooperation (2008-2018), the dynamism on the socio-economic cooperation of D-8 Community would achieve a significant level of their economic development by the increase of intra trade and social welfare”

Posted by Majid Shabbir
Moderator: Business Support Organziation Forum
Secretary General: Islamabad Chamber of Commerce & Industry

Share:

Tags:

Category: Trade & Economy

Comments (1)

Trackback URL | Comments RSS Feed

  1. waseem iqbal khattak says:

    Very nice i m a student of mechanical engineering UET Peshawar and we have a subject of entrepreneurship so these materials are very helpful for me.

    Thanks