Home Economy Sixth D-8 summit ends on high note

Sixth D-8 summit ends on high note

By KUNA,

Kuala Lumpur : The Group of Eight Islamic Developing Countries (D-8) summit concluded here late Tuesday on a high note with leaders agreeing to practical projects in efforts to increase trade and investment.

Malaysian Prime Minister Abdullah Ahmad Badawi said to this end, the private sector must be deeply involved in the programmes outlined in the roadmap agreed to by the leaders for the next 10 years (2008-2018).

Badawi, who hosted the one-day summit, told a joint media conference that the D-8 Roadmap, which was accepted and approved by the leaders of the member states, aims to foster a pragmatic and results-oriented approach to strengthen operation among member states.

The roadmap includes calls for the ratification of Preferential Trade Agreement (PTA) by D-8 members as soon as possible and the setting up of an energy database and a proposal for a working group on mining and minerals.

Under the roadmap, the D-8 countries would strive to increase agricultural production of major crops in an effort to reduce import bill, as well as promoting fisheries and livestock development.

They would also strategize for the production and the input of services to eliminate current constraints of agricultural inputs such as fertilizers, seeds, and agro-chemicals.

There would also be exchange of experiences and information on producing, labeling, and marketing “halal” food among D-8 member countries besides leaders agreeing to ease visa requirements to facilitate hassle-free travel for businessmen in efforts to boost intra D-8 trade.

Also present at the media conference were Iranian President Mahmoud Ahmadinejad, Bangladeshi chief adviser to the government Dr Fakhruddin Ahmed, and Pakistani Prime Minister Syed Yousof Raza Gilani.

At this year’s summit, Malaysia took over the chairmanship of the D-8 from Indonesia.

The D-8, set up in 1997, comprises Bangladesh, Egypt, Indonesia, Iran, Nigeria, Malaysia, Pakistan, and Turkey.