DHAKA: Prime minister Sheikh Hasina on Thursday called upon the D-8 countries to stimulate cooperation in development sectors removing the barriers for active trade and economic cooperation among the member states.
“Bangladesh is examining the Multilateral Agreement among D-8 member states in customs matters to reduce obstacles to trade and boost capacity. For development, trade is an important component. Trade among the members has been disappointing despite a combined market of nearly a billion people,” the prime minister while addressing the D-8 Summit on the opening day on Thursday in Abuja, capital of Nigeria.
Sheikh Hasina said the obstacles have been due to lack of harmonization in standards, uniform and sets of criteria in testing of quality. These have been responsible in increasing tariff and para-tariff barriers and thus hindering trade expansion.
“These obstacles must be removed for active trade and economic cooperation among D-8.
The theme “ Enhancing Investment Cooperation among D-8 countries” is most appropriate and timely for out summit’s deliberation, Hasina said, adding that the recent global economic turmoil has revealed how globalized our world was. A negative economic impact anywhere can easily have been severe adverse effect worldwide. However, some economies were able to weather the storm and Bangladesh was one of them.
Sheikh Hasina said despite the crisis, Bangladesh’s annual GDP growth was around 6 per cent. She said she believed the D-8 countries, through sharing of experiences, potentials and enhancing trade and investment, could better overcome susch crises in future.
The prime minister said Bangladesh’s success in overriding the crisis is largely due to the investment in food security and agriculture. She said this was possible despite increasing frequency of natural disasters resulting from climate change.For real development within D-8, it was now imperative that the member states cooperate and assist each other also on climate change issues within the group and all international forums.
Sheikh Hasina said establishment of democracy is also an important factor in overcoming the crisis. She said the credible elections of December 2008 that restored democracy, contained corruption and terrorism, ensured food security, restored law and order and create climate for economic activity, including trade and investment.
Prime Minister Sheikh Hasina also stressed the need for women’s participation for economic stability. In Bangladesh, women are being recruited in all professions, including in bureaucracy and armed services.
She said her government has set a goal to make Bangladesh a middle income country by 2021, and also to achieve “digital Bangladesh”.
Sheikh Hasina said in recent times emerging developing countries have made breakthroughs in business ideas, models, innovations and technologies. Hence they are attracting large flow of investment and achieving growth. Some of the D-8 members belong to the group and Bangladesh has been attracting investment. This has become possible due to liberal, friendly policies..
The prime minister said D-8, which was established twelve years ago, is now poised to deliver its goal of economic development through optimizing the synergies. With proper recipe for trade and investment and a market of a billion people, the D-8 can achieve 10-15 per cent of intra-D-8 trade by 2018.
She however called upon the D-8 members to be serious and sincere in the commitment and provide the impetus for harnessing combined potentials for prosperous future.
BDST/EH/1830
