News Desk: There are many opportunities to increase trade and investment among the member countries of the International Alliance for Development (D-8). But this opportunity is not working. When the Covid-19 catastrophe strikes, the D-8 member states can work together to address the challenges facing the economy.
These were the words of the speakers at the working session of the D-8 Business Forum held in Dhaka on Monday. The event was jointly organized by D-8 Chamber of Commerce and Industry (D-8 CCI) and Bangladesh Federation of Industries and Merchants (FBCCI).
The 10th D-8 Conference 2021 started in Dhaka from yesterday. One of its collaborating events is the D-8 Business Forum. A similar conference was held in Dhaka in 1999.
FBCCI President Sheikh Fazle Fahim delivered the welcome address at yesterday’s working session. FBCCI Chief Executive Officer (CEO) Mohammad Mahfuzul Haque conducted the function.
Speaking as the chief guest on the occasion, Foreign Minister AK Abdul Momen said, “We want strong ties between the members of D-8 for business, communication and cooperation.” In this unfortunate situation of Covid-19, it needs more. He called on the member states to be more responsible in tackling the challenge. Abdul Momen believes that D-8 CCI can play an important role in increasing inter-trade among member countries.
Speaking as the special guest, Commerce Minister Tipu Munshi said, “Information technology, blockchain, innovation, artificial intelligence are all ahead.” By exchanging these with each other, the members of D-8 have to move forward. Calling for investment in the 100 economic zones announced by Prime Minister Sheikh Hasina, the Commerce Minister said more and more trade dialogues should be organized between the member countries.
Another special guest at the event, Turkish Commerce Minister Rushar Pekan, said the D-8 is an immense alliance of economic potential. Every economic opportunity must be created for future generations.
Among the distinguished guests, Indonesian Vice Minister (Trade) Jerry Sambuaga said the strategic partnership needed to boost trade. And at this time the mutual cooperation of information technology is needed.
“The whole world is facing a challenge now,” said Dato Ko Jafari Ko Shahari, the D-8’s secretary general. However, I firmly believe that the commitment of the D-8 member states to co-operate will be able to deal with the crises caused by the epidemic of Covid. ”
Three separate sessions were held yesterday after the main action session. These include the technological and innovation connectivity of D-8 member countries, the role of youth and small businesses in financial inclusion, and the maritime economy. The first one was conducted by FBCCI CEO Mohammad Mahfuzul Haque and the last two sessions were conducted by Syed Farhat Anwar, Director, Institute of Business Administration, Dhaka University.
Bangladesh, Pakistan, Indonesia, Malaysia, Turkey, Egypt, Iran and Nigeria — these eight countries are the Economic Economic Development Alliance (DE-8). The D-8 launched in June 1997 with the Istanbul Declaration. The purpose of the organization was to strengthen its position in the world economy, increase mutual trade relations and benefits, and increase participation in decision-making at the international level.
