Os­in­bajo tasks D-8 coun­tries on peace, jus­tice for bet­ter pro­mo­tion of trade

The Guardian (Nigeria) - - NEWS - From An­thony Otaru, Abuja

VICE Pres­i­dent Yemi Os­in­bajo has said that the D-8 coun­tries must re­main a po­tent force for peace and jus­tice at all times to be able to en­hance and pro­mote good trade re­la­tion­ship.

He said they must also be ob­ser­vance of fun­da­men­tal free­dom at all times to achieve the feat.

Os­in­bajo spoke while declar­ing open the sixth D-8 (also known as De­vel­op­ing-8 con­sist­ing of Bangladesh, Egypt, In­done­sia, Iran, Malaysia, Nige­ria, Pak­istan and Turkey) min­is­te­rial meet­ing on in­dus­trial co-op­er­a­tion yes­ter­day in Abuja. Ac­cord­ing to him, main­te­nance of peace and jus­tice in the D-8 coun­tries was nec­es­sary, es­pe­cially with the so­cial up­heavals, con­flicts and ten­sions flar­ing up ev­ery­where.

He told the min­is­ters that though it was a time of great chal­lenges, it was also a time of enor­mous op­por­tu­ni­ties.

The Vice Pres­i­dent, who noted that it was time to lever­age on the clear vi­sion of the founders of the or­gan­i­sa­tion for eco­nomic co-op­er­a­tion by ad­vanc­ing the po­si­tions of de­vel­op­ing coun­tries in the world econ­omy, said the or­gan­i­sa­tion must be­gin to make con­crete plans for col­lab­o­ra­tion and part­ner­ships for ar­eas it had marked for co-op­er­a­tion by us­ing its strengths and com­par­a­tive ad­van­tages to ad­vance the good of one and all of its na­tions. In his ad­dress, the D-8 Sec­re­tary-gen­eral, Dr. Seyed Mousavi, said that trade was the back­bone of the D-8 mem­ber-states co-op­er­a­tion and it needs to be im­proved sub­stan­tially.

He stated that though the value of the D-8 in­ter-trade in­creased from $50 bil­lion in 1997 to around $100 bil­lion in 2015, the rev­enue was still be­low the tar­get set at $500 bil­lion.

Mousavi said there was room for im­prove­ment and to achieve the tar­gets set by the found­ing lead­ers, par­tic­i­pa­tion of mem­ber-coun­tries was very im­por­tant. He said net­work­ing among small and medium en­ter­prises (SMES) in the D-8 or­gan­i­sa­tion was also very vi­tal, adding that all firms must have ac­cess to knowl­edge and ex­per­tise.

The three-day meet­ing is sched­uled to end to­mor­row.

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