Bangladesh urges D-8 to fast-track trade pacts, slash barriers

The meeting focused on removing obstacles to trade, simplifying trade procedures and expanding economic cooperation to unlock the potential of member countries

Bangladesh has urged the D-8 grouping to accelerate the finalisation and implementation of free trade and preferential trade agreements, expand tariff concessions and remove barriers to strengthen economic cooperation among member states.

The country's position was conveyed by Commerce Minister Khandakar Abdul Muktadir during a bilateral meeting with D-8 Secretary-General Sohail Mahmood on Monday, on the sidelines of the 42nd ministerial conference of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul, Türkiye.

The meeting focused on removing obstacles to trade, simplifying trade procedures and expanding economic cooperation to unlock the potential of member countries.

Muktadir said boosting trade and investment among D-8 members was crucial amid the current global economic situation. He called on the D-8 Secretariat to play an active role in finalising and implementing the proposed free trade agreement (FTA) and preferential trade agreement (PTA) frameworks without delay.

He also stressed the need for stronger coordination among member states to advance the agreements and facilitate greater intra-bloc trade.

Beyond trade arrangements, the minister called for institutional reforms to make the D-8 more effective, urging the grouping to adopt programmes with clear objectives and measurable outcomes.

In response, Mahmood assured Bangladesh that its proposals and interest in expanding economic cooperation and trade among member countries would receive positive consideration.

Senior officials from Bangladesh and the D-8 Secretariat attended the meeting. Muktadir is visiting Türkiye to attend the 42nd COMCEC ministerial conference.