Pakistani PM urges developing nations to promote trade

Pakistani Prime Minister, Raja Pervez Ashraf, on Monday urged a group of Muslim developing countries to promote trade and give equal access to each other's market. The Prime Minister was speaking at the opening ceremony of D-8 (Developing Eight) trade exhibition at the Pak-China Friendship Centre, in Islamabad as part of the summit to be held on Thursday. The D-8 developing Muslim countries included Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. Iranian President Mahmoud Ahmadinejad along with Presidents Mohamed Morsi of Egypt, Susilo Bambang Yudhoyono of Indonesia, and Goodluck Ebele Jonathan of Nigeria and Prime Minister Recep Tayyip Erdogan of Turkey will attend the summit. Malaysia and Bangladesh are likely to be represented by their deputy Prime Ministers. Officials attending the exhibition will formulate a strategy to enhance their share in global trade by 15 percent by 2018. Raja Pervez Ashraf said that the D-8 convention took significant measure to promote bilateral trade and this exhibition will also play an important role in enhancing the bilateral trade. "By 2018 we can achieve the target of 500 billion U.S. dollars trade among the D-8 countries," he said. He said the D-8 countries have the potential to boost the industrial sector, adding the group should come forward towards sustainable commercial cooperation for peace and development in the region. "Let us work together and cease this opportunity for the peace of the region," said the prime minister. He added that Pakistan will continue to play its role in achieving the D-8 objectives. Pakistani Commerce and Trade Minister Makhdoom Amin Faheem told the meeting that the exhibition would provide a solid platform at which public and private sectors of D-8 countries will showcase their trade potential. He said that it should be made an annual event adding that Pakistan is open for trade and business. The Prime Minister visited stalls of the member countries at the trade exhibition and lauded the products displayed there. The PM interacted with the organizers of the stalls and hoped the exhibition will help all member countries to project their products.