The world has divided into different trading blocs to adopt common positions on matters of interests and secure favourable trading terms for their respective countries, but D-8 countries, despite having abundant natural resources and comparative advantages, have yet to forge strong unity and economic integration.
This was said by Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry on Friday while chairing a meeting of D-8 diplomats at ICCI, which was called to discuss different proposals for agenda of forthcoming 8th D-8 summit scheduled to be held at Islamabad from November 19-22, 2012. Representatives of Ministry of Foreign Affairs and Trade Development Authority of Pakistan were also present in the meeting.
He stressed that D-8 countries should strengthen economic cooperation and develop inter-connectivity to promote intra-trade and improve living standards of their people. He said D-8 countries should remove trade barriers and connect private sectors for promoting trade and economic relations.
ICCI President said that developed countries have achieved phenomenal economic progress by developing high value brands. He stressed that D-8 should also focus on developing world class brands to get better market share in international market.
Ms. Roubina Taufiq Shah, Director, TDAP gave a run-down of commercial activities to be undertaken for the forthcoming D-8 summit. She informed that a D-8 exhibition will be organized at Islamabad from Nov: 19-21, 2012 to display agro/halal products, engineering goods and textiles products of D-8 countries. All D-8 countries will be provided space for country pavilions to display their products.
TDAP will provide the foreign exhibitors logistics facility to and from the exhibition centre. She said TDAP has already written letters to Trade Promotion Organizations (TPOs) of D-8 countries to nominate exhibitors from their countries. An Event Management Company will be hired to manage the exhibition in a professional manner.
Director TDAP said that a seminar will also be held on 20th Nov: 2012 involving over 200 participants from business community of D-8 countries, universities and trade bodies. TPO of each D-8 country will be provided 15 minutes for country presentation to highlight the trade potential of different sectors.
She stressed that meetings of D-8 TPOs should be held on regular basis to explore the possibilities of creating more business opportunities in D-8 countries.
