11 November 2013
D-8 targets $500 billion intra-trade until 2018
D-8 targets $500 billion intra-trade until 2018
Developing Eight (D-8) Secretary General, Seyed Ali Mousavi: "We want to create a D-8 brand. That could be in automobile, airlines, satellite, or in cement sector." 

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

Speaking to Anadolu Agency, Mousavi said the total trade of D-8 countries (Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey) at the end of 2012 was $1.8 trillion and it covered the 5.0% of total world trade in 2012, which was around $36 trillion.

Mousavi also expressed that trade between D-8 Countries at the end of 2012 was almost $150 billion and it was 8.2% of the total 1.8 trillion trade volume.

"Increased trade numbers would accord 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 the fact that $500 billion is a huge amount, yet not impossible to reach, Mousavi said the private sector forms the main factor, thanks to private sector's potential as well as the Preferential Trade Agreement (PTA), visa and customs agreements, which are already entered into force. These agreements would serve positively to reach that aim.

"Turkey has a an important role"

Secretary General indicated the D-8 Summit, 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, the second life-cycle of D-8 is going to start in the history of the Organization."

"The main factor in reaching $500 billion target is the activities of the 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 that the term presidency is not only a political chairmanship, but an opportunity for Turkish Union of Chambers and Exchange Commodities (TOBB) to take over the presidency of private sector and facilitates its activities while accelerating them.

"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, which could be in automobile, airlines, satellite or cement sector." Then he added, "The point which Indonesia, Turkey and Malaysia have 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. In addition, satellite production can be considered as well. Turkey produced its own satellite. Iran and Malaysia have their own satellites, too. We can discuss on a common satellite project. More serious partnerships can be discussed in automobile and cement sectors. A report will be prepared on all the fields mentioned here and can be submitted during the Ministerial Meetings on Industry."

News related to this visit in local media can be found from the below links:

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