D8 IS ON RIGHT TRACK - IRAN F/M

KUALA LUMPUR, Nov 2 (Bernama) -- The Group of Eight Developing Islamic
Countries (D-8) is moving on the right track to enhance cooperation in various
areas, especially trade and economy, said Iran Foreign Minister Dr Manouchehr
Mottaki.

Speaking to Bernama here Sunday, he said the Preferential Trade Agreement
(PTA), as well as the Customs Cooperation Agreement and Visa Agreement
signed by member countries, provided a platform for future cooperation and
expansion between member countries.

The PTA was signed in Bali in 2005, and when it comes into force, it would
be a catalyst to increase D-8 intra trade which now stood at US$1.2 trillion
last year.

Mottaki said the target for D-8 countries to increase intra-trade among
them from five per cent of the total global trade to 15-20 per cent by 2018, was
a realistic one as member countries had all the resources and capacity.

"With all these, I am sure (D-8 will progress further)," said the minister,
who is here to attend the D-8 Foreign Ministers meeting here Monday.

D-8 was established on June 15, 1997 in Istanbul, Turkey and comprises
Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

-- BERNAMA