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D-8 conference opens in Tehran

Tehran, July 10, IRNA -- The Group of Eight Developing Nations (D8) opened a two-day conference in Tehran on Saturday to follow up the decisions the grouping took in the its previous summit held in Tehran last February.

Deputy foreign ministers for economic affairs from Iran, Turkey, Pakistan, Egypt, Indonesia, Malaysia, Nigeria and Senegal are to discuss ways of accelerating trade among the member states.

Iran has assumed rotating leadership of the eight developing nations for two years.

Iranian Deputy Foreign Minister for economic affairs Mohammad Hossein Adeli told reporters that the summit of the leaders had assigned the deputy foreign ministers of the member states to hold meetings twice a year in order to follow up the decisions they made on trade cooperation ranging from customs facilities to establishment of free trade zones by the D8 member states.

He said that the meeting is aimed at studying practical steps towards implementing the decisions.

Adeli said that the meeting will also focus on encouraging the private sector from the member states to boost trade among them.

"The alliance has planned to foster economic cooperation in the field of industry, agriculture, environment, science and technology and anti-poverty campaign. The central banks of the member states are also expected to develop baking cooperation to accelerate trade," Adeli said.

He said that the meeting would offer proposals to the foreign ministers of the member states and hoped that it would be effective in putting into practice the decisions made by leaders of the member states.

Adeli said that trade among the member states has increased by 50 percent to dlrs 21 billion.

Asked about whether the formation of regional alliance would have positive impact on getting membership of the World Trade Organization (WTO), he said that economy of the developing nations are interdependent and cooperation in the form of alliances would make them well prepared to join the WTO.

... Payvand News - 7/10/04 ... --

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