Staff Reporter :
D-8 alliance of Muslim countries have agreed to extend their cooperation in energy considering the rising global concern of all countries about the energy crisis.
Upon this issue, the D-8 partners have decided to hold the first D-8 Ministerial Meeting on Energy, Foreign Minister Dr AK Abdul Momen said in a press conference in a city hotel on Wednesday of the occasion of the 20th D-8 Council of Ministers.
“The D-8 members have talked on energy, trade, agriculture and food security, industrial cooperation, transportation, and tourism to extend cooperation. The members have realised the cooperation in energy sector amid the ongoing global energy crisis. So they have agreed to hold a meeting in this regard,” he added.
However, the Foreign Minister said the date of the meeting on energy has not been fixed yet and it will be done by the alliance secretariat.
He also said that D-8 is an economic alliance and has been working relentlessly to expand mutual trade expansion.
“Initially the trade volume among the member states was $14 billion and currently it is $129 billion. All members except Egypt have nodded for D-8 Preferential Trade Agreement (PTA). But this time Egypt agreed to do so,” Dr Momen said.
“In order to make PTA effective, a final process is continuing. We hope the Draft Trade Facilitation Strategy will be adopted in the third Trade Ministers Meeting here in October,” he said.
Being the President of D-8, Bangladesh held the hybrid 20th D-8 Council of Ministers where Prime Minister Sheikh Hasina joined virtually. Abdul Momen also said that the silver jubilee of D-8 was celebrated this time. In addition, Azerbaijan applied for its membership and the matter has been discussed in the meeting.
Dr Momen also said that Bangladesh has again been elected as the President of the Alliance for one year.
Earlier in the meeting, Momen said that the PTA is going to be fully operational by October 2022 which will create immense opportunity for Intra-D-8 trade.
The D-8 countries are home to about 13 percent of the world population and it accounts for almost four trillion dollars of GDP, 1.5 trillion dollars of export, he added.
“We cannot ignore this huge market and the positive impact it can have on our economy. It is now time to concentrate on trade and investment more intently,” he added.
About the energy crisis, he said, “The present world crisis has shown us the importance of food and energy security. While alone we may have to struggle to find solution, together we can be winners and overcome these temporal difficulties,” he emphasised.
“If the D-8 leaders sincerely commited themselves for a better future for its people, I have a hope and a dream that we are sure to be winners and no one can derail our development process and stability, let it be our goal for coming years,” he said.
