D-8 targets $500 bln annual trade till 2018

Developing Eight (D-8) Secretary General Seyed Ali Mousavi: "We want to create a D-8 brand. That could be in automobile, aviation, satellite, or cement sector."

D-8 targets $500 bln annual trade till 2018

World Bulletin / News Desk

D-8 Secretary General Seyed Ali Mousavi highlights the aim to increase the trade volume among D-8 countries to $500 billion till 2018.

Speaking to AA, Mousavi said the total trade of D-8 countries (Turkey, Iran, Pakistan, Bangladesh, Malaysia, Indonesia, Egypt, and Nigeria) at the end of 2012 is $1.8 trillion and it covers the 5.2% of total world trade in 2012 which was $35 trillion.

Mousavi stated the trade between D-8 countries at the end of 2012 was $150 billion and it is the 8.2% of total 1.8 trillion trade volume.

"More trade numbers would accord with for the countries having such potential. Hence according to the roadmap approved by the state's presidents in 2008, it has been aimed to increase this number to $500 billion until 2018," he said.

Highlighting that $500 billion seems like a huge amount, yet not impossible to reach, Mousavi said the private sector forms the main factor, and thanks to private sector's capability as well as the Preferential Trade Agreement entered into force in between D-8 countries, visa and customs agreement would serve positively to reach that aim.

-"Turkey has a an important role"

Secretary General indicated D-8 Presidents Meeting which will be held in Turkey in 2014 as a turning point and said, "All the member countries have made term presidency for two years. It will be Turkey's turn again. Next year Turkey will take over the term presidency. Therefore in my opinion a second period is going to start in the history of D-8."

"The main factor in reaching $500 billion target is private sector. Turkey has an important role here. We will make the private sector more active under the leadership of Turkey," Mousavi said by reminding the term presidency is not only a political chairmanship, but the private sector will also take over the presidency, so Turkish Union of Chambers and Exchange Commodities (TOBB) will conduct the chairmanship of the D-8 Union of Chambers.

-"Common brand"

The necessity of a brand found a significant place in Mousavi's highlights and he said, "We want to create a D-8 brand, that could be in automobile, aviation, satellite or cement sector." Then he added, "The point which Indonesia, Turkey and Malaysia has reached so far in aviation is very good. Indonesia is one of the leading countries in aviation industry. Turkish Aerospace Industry (TAI) has also big potential in Turkey. And satellite production by the way... Turkey produced its own satellite. Iran and Malaysia have their own satellites too. We can discuss a common satellite project. More serious partnerships can be discussed in automobile and cement sectors. The report that will be prepared in all these fields will be submitted during the meeting of Ministers of Industry."


Last Mod: 07 Kasım 2013, 15:03
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