D-8 trade exhibition: PM Ashraf stresses on increasing trade

Says it can help reduce poverty and achieve economic growth.

ISLAMABAD:

With the aim of projecting Pakistan as a popular business destination, Prime Minister Raja Pervaiz Ashraf inaugurated on Monday a trade exhibition on the sidelines of the Developing Eight (D-8) Summit scheduled for November 22.

While addressing the opening ceremony of the four-day D-8 Trade Exhibition 2012, the premier stated that the exhibition would bring the business communities of member countries closer and would help in “deepening our trade and ... open new vistas for joint ventures.”

Prime Minister Ashraf said: “Pakistan strongly believes in trade instead of seeking aid. If we remain consistent, we will be able to achieve the intra-D-8 trade target of $500 billion till 2018 and we are also committed to increasing our exports from 17% to 25% with the regional countries.”

Terming intra D-8 trade a crucial tool in reducing poverty in the region, the prime minister stated that member countries had a huge market of almost a billion people and intra-trade was the most secure and sure way to improve their economic indicators.

It was revealed that the D-8 countries’ share in global trade has already doubled from $67 billion in 2008 to $130 billion last year, and during the current event a strategy will be chalked out to increase the share by another 15%.

D-8 commission meeting

The two-day meeting of the commission of the eight developing countries and a two-day trade talk also commenced on Monday. The events were held to discuss the preparation of the summit to be held on Thursday.

Avoid speculation: Khar

Meanwhile, Foreign Minister Hina Rabbani Khar dispelled impressions regarding a refusal from Bangladesh Prime Minister Sheikh Haseena to attend the Developing Eight (D-8) Summit in Islamabad.

“There could be numerous reasons behind it, not just the ones circulating in the media. We should refrain from speculating on these things,” insisted Khar.

Published in The Express Tribune, November 20^th, 2012.