The entrepreneurs of the D-8 countries were urged to gear up efforts so that the intra-trade within the group can be raised to US$1.3 trillion.
Presently, the intra-trade volume among the D-8 countries is US$129 billion.
Addressing the meeting of the D-8 entrepreneurs dubbed as D-8 Business Forum and Expo, Foreign Minister Dr AK Abdul Momen made the call saying that through collective and sincere efforts by all stakeholders, this target can be achieved.
He said the intra-trade among D-8 countries rose to $129 billion from 14 billion in the last 25 years and he believes that it can be raised by 10 folds in the next 10 years.
According to the minister, this can be done with or without FTA.
Momen also urged the entrepreneurs to invest in the southern zone of the country which offers huge investment opportunities following the recent opening of the Padma Bridge, which links the zone with the capital.
Expansion of intra-trade, food security and the ongoing global energy crisis became the focal point of the two-day D-8 meeting of the Council of Ministers which started in the city on Tuesday.
Prime Minister Sheikh Hasina inaugurated the meeting.
At the meeting, Commerce Minister Tipu Munshi urged the D-8 businesses to make joint efforts to address the challenges posed by the Ukraine war.
Prime Minister’s adviser on the private sector and industry affairs, Salman F Rahman said that present Bangladesh is a new Bangladesh, which offers tremendous opportunities for business and investments.
Despite being a populous country, Bangladesh made unprecedented progress in all sectors and became self-reliant on food, he noted.
State Minister for Foreign Affairs Shahriar Alam said Bangladesh emerged as the role model of development in the world.
In his opening remarks, D-8 CCI President Sheikh Fazle Fahim said, the expo would pave the path to expanding businesses among the member countries.
As the world is facing a severe energy crisis the upcoming meeting will devise ways and means to mitigate the crisis, officials of the foreign ministry said.
Ensuring food security will also get special attention in the D-8 meeting as after the beginning of the Ukraine war, there is an apprehension of a prolonging food crisis in the world.
The meeting will also discuss a proposal to include Azerbaijan in the grouping.
The D-8 Organisation for Economic Cooperation, also known as Developing-8, is an organisation for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.
The objectives of D-8 Organization for Economic Cooperation are to improve member states' position in the global economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at international level, and improve standards of living.
