UPDATE WITH INDONESIA PRESIDENT REMARKS **
By Islamuddin Sajid
ISLAMABAD (AA) – Pakistani Prime Minister Shehbaz Sharif urged the D-8 member countries on Thursday to work together to strengthen economic ties and improve transportation connectivity between them.
Speaking at the D-8 summit in the Egyptian capital of Cairo, Sharif said his Cabinet has already approved the implementation of D-8 preferential trade agreement and its dispute settlement protocol.
The D-8 Organization for Economic Cooperation, also known as D-8, was founded in 1997 in Istanbul by Türkiye, Egypt, Nigeria, Pakistan, Indonesia, Bangladesh, Iran, and Malaysia.
"We need to explore the possibilities of developing and enhancing transport connectivity among the eight member states for building efficient intra-trade corridors and reliable supply chains," the prime minister stressed.
He urged member countries to prioritize transport connectivity, suggesting the Istanbul-Tehran-Istanbul road corridor as an excellent project for high-speed connectivity.
The premier said his country spends and invests in youth, which is critical for their socioeconomic development and progress, as more than 60% of the population is under the age of 30.
Bangladesh Chief Adviser Muhammad Yunus said in his address that Dhaka has worked hard to advance D-8 cooperation despite quite challenging circumstances since taking over the D-8 Chairmanship in April 2021.
"We first battled the limitations and constraints in the wake of the COVID-19 pandemic; and then the poly crisis that afflicted many of our countries, in so many ways," Yunus was quoted by BSS News.
He also handed over the D-8 chairmanship to Egyptian President Abdel Fattah El Sisi.
Indonesia President Prabowo Subianto also addressed the summit, emphasizing the importance of strengthening trade and economic ties among the D-8 countries.
He proposed to establish more efficient and simplified customs procedures for intra-D-8 trade, according to the state-run Antara News.
"We must also create a halal value chain through a strengthened D-8 halal economic network," President Prabowo said.
He added that if D-8 member countries fulfill and implement these agreements, this economic bloc will be able to have a significant impact on the global economy.