The D-8 Business Forum was organized virtually, as a sideline event of the 10th D-8 Summit, by the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) in partnership with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and D-8 Chamber of Commerce & Industry (D-8 CCI) on the sideline of the 10th D-8 Summit today, April 5, 2021, Dhaka.
H. E. Dr. A. K. Abdul Momen, MP, Hon’ble Foreign Minister, Government of the People’s Republic of Bangladesh attended the meeting as the chief guest while H.E. Tipu Munshi, MP, Hon’ble Commerce Minister, Government of the People’s Republic of Bangladesh and H.E. Ruhsar Pekcan, Hon’ble Minister of Trade, Republic of Turkey were the special guests at the forum.
Furthermore, H.E. Md. Shahriar Alam, MP, Hon’ble State Minister, Ministry of Foreign Affairs of Bangladesh, H.E. Jerry Sambuaga, Hon’ble Vice Minister of Trade, Republic of Indonesia, H.E. Ambassador Dato’ Ku Jaafar Ku Shaari, Secretary General of D-8 addressed the business forum as Guest of Honour.
In this auspicious occasion, Mr. Sheikh Fazle Fahim, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has assumed the term of the chairmanship of D-8 CCI from Mr. Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
Foreign Minister Dr. AK Abdul Momen emphasized that D-8 Member States should leverage the commonalities and aim to promote intra-trade, investment in innovation, minimize tariff and non-tariff barriers. He added “We need common investment policies, guidelines, and strategies including diaspora investment opportunities; and work for minimizing tariff and non-tariff barriers,” he said at the Forum.
Speaking at the D-8 Business Forum, Trade Minister of Turkey Ms. Ruhsar Pekcan stressed that Turkey is well aware of the economic synergy that could be generated with its fellow countries of shared historical, economic, social, and cultural foundations. “Our involvement with the D-8, along with Economic Cooperation Organization and the Organization of Islamic Cooperation is a solid outcome of this belief,” Pekcan noted.
Bangladesh Commerce Minister Tipu Munshi told the forum that the member states of D8 will be able to overcome the challenges of COVID through the effective functioning of the D-8 business platform. He hoped that the D-8’s Chamber of Commerce and Industry will work at a more assertive level for enhancing trade, services, investment, small- and medium enterprises, tourism, and agriculture.
Ambassador Dato Ku Jaafar Ku Shaari, Secretary General of the D-8, urged member states to continue to enhance cooperation in the upcoming period. “We want to diversify and create new opportunities in trade relations, we want to improve developing countries’ position in the world economy,” he added. He also highlighted that the total trade volume of D-8 is $1.6 trillion of which 6.5 per cent stemmed from intra-D8 trade.
Talking about his role as a new Chair of the D-8 Chambers of Commerce and Industries, Mr. Fahim said they are committed to improving connectivity and trade relations “among our nations” and reach the goal of high economic growth and prosperity. “We reach out to our D8 members for support wherever applicable and look forward to our future engagements to drive impact among member states,” he noted.
There were 3 breakout sessions where distinguished Speakers stressed on involvement of technologies to facilitate trade, investment, production and supply. Present technology trends are dominated by areas such as Fin-tech, Ed-tech, Clean-tech, Health-tech, Agri-tech, e-commerce, etc. amongst others. Capacity building and Skills development through collaboration among training institutes among D-8 Member States will have a significant impact on industries in the region.
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Joint Declaration of D-8 Business Forum
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The D-8 Business Forum held on 5th April 2021