Momen for common investment polices among D-8 members

Foreign Minister Dr AK Abdul Momen

today called for common investment policies, guidelines, and

strategies to promote intra-trade and investment innovation among the

D-8 member states.

“Leveraging the commonalities, D-8 Member States should aim at

promoting intra-trade and investment innovation,” he said while

virtually addressing the D-8 business forum held today on the side

line of the upcoming D-8 summit.

The foreign minister said the D-8 need to create diaspora

investment opportunities and work for minimizing tariff and non-tariff

barriers expediting trade among the member states.

Momen said the D-8 also need to create funds for development, R&D,

technology transfer, capacity building and support for institutions

and centres of excellence, including the SME and blue economy

sectors,” he said.

“We would like to particularly stress on the area of innovation and

mainstreaming them in our developmental strategy circuit,” he said.

Noting that the total GDP of the D-8 Member States is around 4.9% of

world GDP, the foreign minister said this is manifestation of the

region’s consumer base for both service and commodities along with its

inherent growth potentials.

To tap into that, he said, D-8 CCI could play the key role through

effective collaboration and partnership with their government sector

in addition to their self networking mechanism.

During the event the Chairmanship of the D-8 Chamber of Commerce and

Industries (D-8 CCI) was handed over to the Federation of Bangladesh

Chamber of Commerce and Industries (FBCCI) from the Union of Chambers

and Commodity Exchanges of Turkey (TOBB).

TOBB president Rifat Hisarciklioglu handed over the D-8 CCI

chairmanship to FBCCI president Sheikh Fazle Fahim.

D-8 Organization for Economic Cooperation, also known as

Developing-8 consists of 8 developing Muslims countries- Bangladesh,

Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

Bangladesh is set to hold the 10th D-8 Summit virtually on April 8

aiming to seek more investment and trade from the member states.

Prime Minister Sheikh Hasina will lead the Bangladesh delegation

while her counterparts of the rest seven D-8 member states will head

their respective sides at the summit.

“After the summit, Bangladesh will chair the D-8 for next two years

that creates opportunity to project Bangladesh’s tremendous economic

and development success in front of the world,” foreign minister Dr AK

Abdul Momen told reporters at a virtual media briefing today.

At the summit, Turkey, the current chair of D-8 will hand over the

chairmanship to Bangladesh for the next two years.

At the end of the summit, the “D-8 Decennial Roadmap 2020-2030” and

“Dhaka Declaration 2021” are likely to be adopted to make the D8

platform more effective and functional for realising full potential of

economic cooperation among its member states, Momen said earlier.

Source: Bangladesh Sangbad Sangstha (BSS)