Globalization, Building Strong Private Sector Dominate D-8 Summit
The D-8 summit opened Sunday in Cairo with leaders of eight developing countries preparing to address the challenges of globalization and the importance of building a strong private sector, said AFP.
The D-8 group comprises Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
Leaders are expected to formally adopt the "Cairo declaration", which hails the vital and fundamental role of the private sector in realizing the goals of the D-8 countries, said AFP.
“The D-8 perceives itself as serving as a collective front for developing Islamic nations in working together to face the problems posed by globalization,” said Egyptian Foreign Minister Amr Moussa, who attended the proceedings for the countries' foreign ministers on Saturday.
In addition to Egyptian President Hosni Mubarak, who will chair the meeting, other attendees will be Bangladeshi Prime Minister Sheikha Hasina Wajed, Indonesian President Abdurrahman Wahid, Nigerian President Olusegun Obasanjo, Pakistani leader Pervez Musharraf and Turkish President Ahmet Necdet Sezer, said the agency.
Malaysia will be represented by its Deputy Prime Minister Abdullah bin Ahmad Badawi and Iran by Foreign Minister Kamal Kharazi who has already arrived in Cairo.
Mubarak will deliver a speech calling on members to launch more cooperation in economic and trade fields and encourage investment to redress the world trade imbalance, reported ArabicNews.com.
The president will also review the economic steps launched by Egypt and the incentives and guarantees available for foreign investments, and the necessity to have the advanced countries help the developing countries modify their financial structures and ease the burdens of debts on them, according to the news service.
The D-8's chamber of commerce will submit Sunday a recommendation to the D-8 heads of states for a uniform custom levy for D-8 members, added ArabicNews.
The D-8 leaders are also planning to approve the creation of an international company for trade and marketing based in Cairo, Moussa said.
The D-8 was created in 1997 at the initiative of Turkey.
Turkey envisioned the grouping together of the eight Muslim countries with the collective weight of their economies and their diplomatic policies as a potentially strong force in the world – Albawaba.com
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