The Preferential Trade Agreement (PTA) among the D-8 member states is likely to be operational in October this year with the ratification by Egypt which will help boost intra-trade. “Seven member states other than Egypt have ratified the D-8 PTA. You will be happy to know that Egypt has announced at this meeting that they will soon ratify the D-8 PTA,” said Foreign Minister Dr AK Abdul Momen while briefing the media on the outcome of the D-8 Ministerial meeting at a city hotel on Wednesday. The volume of intra-trade among the D-8 member states at the time of establishment was $14 billion, which has now reached $129 billion. “My hope is that within the next 10 years our intra trade will increase by 10 times. That’s my hope. There is no reason that we can’t achieve it,” Momen said. While talking to UNB, D-8 Secretary General Ambassador Isiaka Abdulqadir Imam said the D-8 PTA is already there and they just need to make it operational. “We hope it will become operational by October this year.” The D-8 Preferential Trade Agreement (PTA), signed on 13th May, 2006 in Bali, Indonesia is regarded as one of the most tangible outcomes of D-8 cooperation in trade. Foreign Minister Momen said the process of finalization of the draft “Trade Facilitation Strategy” is underway with a view to speedy implementation of the D-8 PTA. The issue was reviewed in the ministerial meeting and it is expected that this draft Trade Facilitation Strategy will be accepted in the 3rd Trade Ministers meeting to be held in Bangladesh soon, he said.

Prime Minister Sheikh Hasina on Wednesday called for greater multilateral cooperation and global solidarity to bravely deal with the “looming humanitarian crisis caused by Russia-Ukraine war and subsequent sanctions and counter-sanctions.” “As the world is passing through a difficult time due to Covid-19 pandemic, conflicts, food and energy crisis, climate change and natural disasters, the need for strengthened multilateral cooperation and global solidarity deserves more attention than ever,” she said. The prime minister said this while inaugurating the 20th session of D-8 Council of Ministers at Hotel InterContinental in Dhaka. She joined the programme virtually from her official residence Ganabhaban. D-8, also known as Developing-8, is an organization for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkiye. It was officially launched in Istanbul in1997. PM Hasina said that a humanitarian crisis is looming due to the Russia-Ukraine conflict and, the subsequent sanctions and counter-sanctions that have disrupted the production and supply of food, fertiliser, energy and power and other commodities. “We should all come forward to bravely address this looming humanitarian crisis,” she said. She said that while the world was reeling from the aftermath of the Covid-19 pandemic, the Russia-Ukraine conflict has pushed the world to a fresh danger. Also read: Promote right persons in Army: PM Hasina She mentioned that countries like Bangladesh have been bearing the brunt of the impacts of the war most. “Prices of the essentials have gone beyond the purchasing capacities of the most of people,” she said. The premier said that the government in Bangladesh has taken comprehensive measures to mitigate the impacts of coronavirus pandemic on the economy and revive it to desired growth trajectory. So far, she said, the government has announced 28 stimulus packages equivalent to USD 23 billion which is 6.3 per cent of the country’s GDP. She mentioned that a total of 67.4 million people and 118,000 business entities have been benefited from these packages. “Bangladesh is one of the very few countries which have successfully vaccinated its targeted population against COVID-19,” she told the conference. She said that Bangladesh has been ranked fifth out of 121 countries and the first among the South Asian counties in COVID-19 recovery index. Talking about the advancement of the country, Hasina said that Bangladesh has made impressive progress in all social-economic sectors over the last one decade. She mentioned that poverty rate has gone down to 20 per cent with per capita income increased to USD 2,824. She pointed out that robust agricultural growth has made the county self-sufficient in food production. There is gender equality in all sectors. Enrolment at primary level has gone up to 97.81 per cent, child mortality rate significantly decreased to 28 per 1000 live-births and life expectancy increased to 72.8 years. She said that more than 98 per cent population have been brought under safe water and sanitation network. Access to government services has been made digital and easy, and 5.8 per cent of the national budget has been earmarked for social security and welfare programmes. “Our sustained efforts in all areas of socio-economic advancement have paved the way to graduating from the LDCs,” she said. The prime minister said that last month, she opened the longest bridge in Bangladesh, the Padma Bridge, which is an engineering marvel built entirely with the country’s own funds. She said that the bridge is expected to contribute 1.23 per cent to the annual GDP. She mentioned that mega projects, including Metro rail, Rooppur Nuclear Power Plant, Payra Seaport, Karnafuli tunnel, Elevated Expressway, 100 Special Economic Zones and High-Tech IT parks, are being implemented. “These will be crucial to realize our vision to build a developed and prosperous Bangladesh by 2041,” the PM said. However, she said, there are many challenges for Bangladesh in its endeavours to be a developed country. In this regard she said that global warming and climate change has posed tremendous threat to the country’s existence.   “Having located in a unique hydro-morphological system in the largest delta of the world and with a densely populated coastline, the impact of climate change is extreme for Bangladesh,” she said. The prime minister said that the D-8 countries with more than one billion population have enormous potentials for economic cooperation. She mentioned that Bangladesh has been attracting investment through its liberal, friendly investment policies and arrangement of linkages between foreign and local businesses. She said that the export earning has increased from USD 18 billion in 2010 to over 52 billion in the last fiscal year. In this regard, she said Bangladesh, currently the 41st largest economy in the world, is set to become the 25th by 2035. “We look forward towards new partnerships to attain our shared vision of prosperity for the people keeping in mind the guiding focus in the implementation of the 2030 Agenda.” She called upon the D-9 countries to celebrate the 25th anniversary of the grouping with new focus on some specific areas for the next decade. The areas are: Preferential Trade Agreement or PTA, D-8 Economic Zone, ICT, diversified agriculture to ensure food security and alternative energy sources. Regarding the finalisation of the D-8 Preferential Trade Agreement, she said, it will help harmonise the intra-country trade, liberalize the barriers, and stimulate trade and economic cooperation among the member states. The premier said that the 25-year-old D-8 is now poised to deliver its goal of economic development through creating synergies. “This is possible through political commitment and meaningful cooperation of our public and private sectors. The immense possibility that we have, if realized properly, will heighten our power as an economic bloc,” she told the meeting. She urged the member countries to “work together to provide the impetus for harnessing our potentials towards a prosperous future.” Foreign Minister Dr AK Abdul Momen, D-8 secretary general Ambassador Isiaka Abdulqadir Imam, State Minister for Foreign Affairs Ministry Md Shahriar Alam, President of D-8 Chamber of Commerce and Industries (D8CCI) Sheikh Fazle Fahim and Foreign secretary Masud Bin Momen also spoke at the programme. A documentary on the D-8 and its 25 years journey was screened at the programme.

Bangladesh will host the 20th session of the Council of Ministers of D-8, also known as Developing-8, on 27 July. The country already invited the foreign ministers of D-8 members. Foreign Minister Dr AK Abdul Momen said he had another chance to request during his recent visit to Kigali, the capital of Rwanda. While talking to reporters at his office on Sunday evening, Momen said some countries are yet to confirm their participation while few countries have already confirmed. He said he had a discussion with the Nigerian President and his Malaysian counterpart during his stay in Kigali. Momen also said Indonesia and Pakistan are yet to confirm while Turkey’s participation has been confirmed.  D-8 is an organisation for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. Bangladesh will also host the 45th session of the D-8 Commission from 25 to 26 July. The establishment of D-8 was announced officially through the Istanbul Declaration of Summit of Heads of State or Government on 15 June, 1997. It is a global arrangement rather than a regional one, as the composition of its members reflects. Read: D-8 Commission’s two-day meeting begins Monday

Bangladesh has said the D-8 has the responsibility to not only deal with intra-regional inequalities but also global ones through pro-active deliberations and associations. Secretary (West and ICT) at the Ministry of Foreign Affairs Shabbir Ahmad Chowdhury made the observation while inaugurating the 44th Session of the D-8 Commission. Bangladesh, as the current Chair of Developing Eight Organization for Economic Cooperation (D-8), hosted the two-day 44th Session of the D-8 Commission meeting that ended on Tuesday in Dhaka. Also read: Intra-D-8 trade: Transport connectivity gets focus in Summit Chaired by the D-8 Commissioner of Bangladesh and Director General (International Organizations) of the Ministry of Foreign Affairs of Bangladesh, Wahida Ahmed, the meeting was attended by the D-8 Secretary-General Ku Jaafar Bin Ku Shaari and Commissioners/delegates of the D-8 Member States. The meeting focused on issues related to the six priority areas of cooperation of D-8- trade, agriculture, food security, industrial cooperation, energy and minerals, transportation and tourism. In his welcome remarks, the D-8 Secretary-General urged the D-8 Commissioners to focus and work on the implementation of the currently available mechanisms of the Organization such as the PTA and Visa and Customs agreements. The Chairperson, and D-8 Commissioner of Bangladesh briefed the meeting about the lucrative incentives offered by the Government of Bangladesh to set up Special Economic Zones (SEZs), and invited the meeting to invest in Bangladesh. The Commission welcomed her proposal to host the inaugural meeting of the relevant authorities of the Member States on the D-8 Special Economic Zones in 2022 in Bangladesh. The D-8 Commissioners reviewed the concept note drafted by Bangladesh on forming a Working Group to tackle the economic adversities of COVID-19 pandemic among the D-8 Member States, and committed to come up with pragmatic proposals to boost the vulnerable sectors under this adhoc Working Group. Prime Minister Sheikh Hasina is the current Chair of the D-8. Also read: D-8 Summit: Hasina for building a better future together She assumed the Chairmanship of the D-8 from the President of Turkey on April 8, 2021 at the 10th D-8 Summit.   The D-8 Organization for Economic Cooperation, also known as Developing-8, is an organisation for development co-operation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

Foreign Minister Dr AK Abdul Momen on Wednesday said Bangladesh will take all pragmatic initiatives to open new avenues of cooperation among the D-8 Member States with the aim of making this Group even more vibrant, active and effective.  In order to minimise the worsening effects of Covid-19 on the world economy, Dr Momen said, Bangladesh wants to explore all avenues for economic recovery through collaboration among the D-8 Member States.  Also Read: Bangladesh proposes postponement of Dhaka D8 Summit "Bangladesh believes in a free and equitable access to markets for not only products but also services. It would obviously facilitate D-8 governments and private sectors to come together to highlight how D-8 Member States can deepen connectivity, networking and collaboration in light of experiences of the Covid-l9 era," he said. The Foreign Minister was addressing the D-8 19th Council of Ministers (COM) as Chair of the COM.  Foreign Ministers of D-8 Member States including immediate past chair and Turkish Foreign Minister Mevlut Cavusoglu and D-8 Secretary General Ambassador Ku Jaffar Ku Shari joined. Since the overall objective of the global organisation is to improve Member States’ life and livelihood situation through multiple approaches, Dr Momen hoped to create a D-8 digital marketplace, and create a suitable-for-all resilient post-pandemic cooperation model to ensure the common interests of all member states.  Also Read: DDhaka to host 10th D-8 Summit virtually in Dec or Jan "As the whole world is experiencing an unprecedented global public health and economic crisis caused by the COVID-19 pandemic, I personally feel the urge that, we, the D-8 Member States need to stand together more than ever," he said.  After chairing the D-8 Organisation for Economic Cooperation for two years during the period of 1999 – 2001, Bangladesh is going to hold the Chairmanship of the D-8 for the second time after two decades.  "This is happening at a time when we are celebrating the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and we are also observing the Golden Jubilee of our independence," he said.  Moreover, Dr Momen said, recently Bangladesh has fulfilled the UN criteria for graduating from the LDC Group of countries.  "We are indeed honoured and happy for having the opportunity of chairing the D-8 at this historic moment," he said. Prime Minister Sheikh Hasina will lead the Bangladesh delegation at the 10th D-8 Summit on Thursday to be participated by the leaders of Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. Turkish President Recep Tayyip Erdogan will hand over the Chairmanship of the D-8 to Prime Minister Sheikh Hasina. The theme of the D-8 Summit is “Partnership for a Transformative World: Harnessing the Power of Youth and Technology” and the Summit will adopt two documents “D-8 Decennial Roadmap 2020-2030” and “Dhaka Declaration 2021.” Bangladesh is hosting the 10th D-8 (Developing-8) Summit virtually in the context of COVID-19 new normal scenario that will focus on trade, investment, mineral resources, tourism, ICT, climate and Rohingya issues. “These are the things we’ll try to focus on through dialogue and discussions,” said Foreign Minister Dr Momen. He said they will seek support from all for a “durable solution” to the Rohingya crisis and address the challenges posed by climate change. On trade issues, he said there is a lot of potential to boost trade among the D-8 member states which remained untapped.  Prime Minister Sheikh Hasina attended the first D-8 Summit held in 1997 and Dhaka successfully hosted the second D-8 Summit in 1999. The D-8 aims for Economic Cooperation to improve member states’ position in the global economy, to diversify and create new opportunities in trade relations, to enhance participation in decision-making at international level, and to improve standards of living. Meanwhile, the 43rd Session of the D-8 Commission was held on April 5-6. On April 5, D-8 Business Forum and first D-8 Youth Summit were held on the sidelines of the Summit. The Summit will put emphasis on strengthening of intra-trade among D-8 member states and in that context will urge the member states to ensure benefits from the D8 Preferential Trade Agreement (PTA) through its proper implementation.  

Prime Minister Sheikh Hasina will lead the Bangladesh delegation at the 10th D-8 Summit on Thursday to be participated by leaders of Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. Turkish President Recep Tayyip Erdogan will hand over the D-8 Chairmanship to Prime Minister Hasina. Before the Summit, the 19th D-8 Council of Ministers will be held virtually on Wednesday. Foreign Minister Dr AK Abdul Momen will lead the Bangladesh side. The theme of the D-8 Summit is “Partnership for a Transformative World: Harnessing the Power of Youth and Technology” and the Summit will adopt two documents “D-8 Decennial Roadmap 2020-2030” and “Dhaka Declaration 2021”. Also read: D-8 Youth Summit: Dhaka for achieving SDGs engaging youth Bangladesh will host the 10th D-8 (Developing-8) Summit virtually in the context of COVID-19 new normal scenario that will focus on trade, investment, mineral resources, tourism, ICT, climate and Rohingya issues. “These are the things we’ll try to focus on through dialogue and discussions,” said Foreign Minister Momen. Dr Momen said they will seek support from all for a “durable solution” to the Rohingya crisis and address the challenges posed by climate change. On trade issues, he said there is a lot of potential to boost trade among the D-8 member states which remained untapped.  Prime Minister Hasina attended the first D-8 Summit held in 1997 and Dhaka successfully hosted the second D-8 Summit in 1999. Also read: Dhaka for promoting intra-trade, investment in innovation among D-8 members Through the 10th Summit, Bangladesh will assume the chairmanship of D-8 for the term of two years from Turkey which will create a new avenue for Bangladesh to share its development success story globally and will help expand its relations with the outside world, Dr Momen said. The D-8 aims for Economic Cooperation to improve the member states’ position in the global economy, to diversify and create new opportunities in trade relations, to enhance participation in decision-making at international level, and to improve standards of living. Meanwhile, the 43rd Session of the D-8 Commission was held on April 5-6. On April 5, D-8 Business Forum and first D-8 Youth Summit were held on the sidelines of the Summit. The Summit will put emphasis on strengthening of intra-trade among D-8 member states and in that context will urge the member states to ensure benefits from the D8 Preferential Trade Agreement (PTA) through its proper implementation.

Bangladesh will host the 10th D-8 (Developing-8) Summit on April 8 virtually in the context of Covid-19 new normal scenario that will focus on trade, investment, mineral resources, tourism, ICT, climate and Rohingya issues. “These are the things we’ll try to focus on through dialogue and discussions,” Foreign Minister Dr AK Abdul Momen told reporters in a virtual media briefing on Wednesday. Foreign Secretary Masud Bin Momen, among others, was present. Responding to a question, the Foreign Minister said they will seek support from all for a “durable solution” to the Rohingya crisis and addressing the challenges posed by climate change. On trade issues, he said there is a lot of potential to boost trade among the D-8 member states which remained untapped. Prime Minister Sheikh Hasina will lead the Bangladesh delegation at the Summit to be participated by the leaders of Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. The Prime Minister attended the first D-8 Summit held in 1997 and Dhaka successfully hosted the second D-8 Summit in 1999, said the Foreign Minister. Also read: Dhaka to host 10th D-8 Summit virtually in Dec or Jan The theme of the D-8 Summit is “Partnership for a Transformative World: Harnessing the Power of Youth and Technology” and the Summit will adopt two documents “D-8 Decennial Roadmap 2020-2030” and “Dhaka Declaration 2021.”

The Developing-8 Organization for Economic Cooperation has intensified solidarity and cooperation among its Member States to identify constraints and bottlenecks for tackling coronavirus and developing a mechanism to build post-pandemic resilient health systems.