Developing 8 countries (D8) are set to focus more attention to boost trade and economic cooperation among its member countries. This was at least one cooperation D8 foreign ministers or representatives sought to push ahead since they met Kuala Lumpur earlier Sunday.
Spurring intra-trade was one of cooperation areas that the D8 Secretariat expects in the next two years, D8 Secretary General Dipo Alam said when the 11th Session of D8 Council of Ministers kicked off here.
"Strong commitment to the implementation of the first two-years of D8 Roadmap 2008-2018 (would) focus on some economic sectors that support the increase of intra trade, including services such as tourism," Dipo said.
Malaysian Foreign Minister Dais Yatim said that D8 foreign ministers late Sunday approved the 10-year roadmap for economic cooperation among member countries at the council meeting.
The two-phased roadmap envisaged increased intra-trade from the current 5 percent to between 15 and 20 percent of the grouping's total global trade by 2018, he said.
"By end of 2018, we want intra-trade to grow to 571.5 billion U.S. dollars or 15 to 20 percent of the total D8 global trade, " he told a press conference.
"The roadmap will also provide the framework for enhancing cooperation, the guide and formula to implement D8 programs and projects, assist in mobilizing resources from governmental and non-governmental sectors."
Earlier Sunday, Dipo said that D8's global trade value had reached 1 trillion U.S. dollars in 2007 from 750 billion U.S. dollars in 2006.
Its intra-trade value had increased to 60 billion U.S. in 2007 from 34 billion U.S. dollars in 2006, Dipo said.
The intra-trade value only accounted for 5 or 6 percent of its total global trade value in 2007, Dipo said.
D8 will focus more attention to boost the ratio to 15 to 20 percent in future, he added, believing the target would be achievable as the modalities for cooperation were there.
On Sunday, Indonesian Foreign Minister Hassan Wirajuda also said that the formulation of the text of the grouping's Roadmap 2008-2018 was one of major achievements since Indonesia took over D8's chairmanship two years ago.
The roadmap formulated D8's vision and mission, goals and objectives, guiding principles, and key programs, which would well guide the grouping during its second decade of cooperation, Hassan said when he handed over Indonesia's chairmanship of the council to Malaysia.
The roadmap will unroll in two phases, Dais said on Sunday.
The roadmap for 2008-2013 will focus on the full implementation of D8's Preferential Trade Agreement (PTA), which some D8 member countries are pushing for the final approval of the document by D8.
D8 member countries reportedly had signed the PTA in 2006 in Bali, Indonesia, but so far, only Malaysia and Iran ratified it.
The document reportedly needed ratification by at least four member countries before it could take effective.
The second phase, between 2013-1018, will mainly target at pushing the grouping's trade value to account for 15 to 20 percent of the grouping's total global trade value.
The roadmap mapped out various cooperation promotion areas among D8 members, from trade, customs and visa facilitation, to capacity-building, science and technology, tourism, and involvement of the private sector.
Dais said that D8 foreign ministers Sunday had agreed to facilitate visa procedures for genuine businessmen from D8 countries.
Dipo also said that other strong commitments that D8 has in the next two years include the implementation of all signed agreements, including those signed by companies of D8 countries, focusing on trade.
The grouping also will be committed to stepping up their cooperation to face the uncertainties of high oil and food prices.
D8 was formed in 1997 with its secretariat based in Turkey. It currently comprises eight developing Muslim nations -- Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
Its principal organs include the Summit, the Council of Ministers and the Commission.
The Summit, the supreme organ of the grouping, consists of the heads of state or government of member countries. it convenes once every two years.
The Council of Ministers consists of the ministers in charge of foreign affairs of member states and it is the political decision-making organ of D8.
While, the Commission is the executive body of D8 and consists of senior officials appointed by the governments of member countries.
D8 is an arrangement for development cooperation among the eight countries with the objectives to their position in the global economy, diversify and create new opportunities in their trade relations, and enhance their participation in decision-making at international level.
Source:Xinhua
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