Addressing the inaugural session, Adviser to the Prime Minister on National Security and Foreign Affairs urged the D-8 to initiate a substantive co-operation phase by operationalising the agreements related to removing barriers in trade and business, particularly the Preferential Trade Agreement. He proposed to the member countries to evolve a mechanism of cooperation in the energy sector, as energy crisis is becoming a daunting challenge. He informed the session that Pakistan was in the process of organising the first meeting of D-8 Energy Forum in Islamabad.
He suggested that the member countries can take initiatives for cooperation in capacity building, transfer of technology, transfer of capital, labour, energy and food security, Islamic banking, and Halal sector development. He said although the D-8 has made efforts to bring the countries closer to each other, but there is still need to further expand trade relations among the member states. The advisor pointed out that the D-8 can play effective role in dealing with economic and social challenges facing the member countries.
Highlighting economic revival as a high priority of the PML-N government, the adviser said the decision to join the D-8 was taken by Prime Minister Nawaz Sharif over 15 years ago after attending the first historical summit of the organisation in Istanbul in June 1997.
Later in a meeting with the D-8 Secretary-General Dr Syed Ali Mohammad Mousavi, the Adviser to the Prime Minister proposed ways and means to fast track the implementation of trade and visa agreements. He expressed the hope that the D-8 Preferential Trade Agreement will be implemented soon. The D-8 Secretary-General thanked the Adviser for organising the commission meeting and appreciated Pakistan's active role in the D-8 activities.
He assured support of his organisation in expediting the implementation of D-8 agreements which envisage current intra-D-8 trade of $150 billion to increase to $500 billion by 2018. The two-day meeting concluding today (Tuesday) is reviewing progress on intra-D-8 co-operation in several areas in the context of a roadmap of co-operation from 2008 to 2018.
It is expected that the session will issue a joint statement today (Tuesday) at the conclusion. Pakistan is hosting the session in its capacity as the current head of D-8 organisation for economic development. The organisation reflects combined population of one billion and a market of about $1 trillion. The member countries envisage increasing intra D-8 trade to over $500 billion by 2018.