05.04.2021 Ankara
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu said in his speech at the D-8 Business Forum held online, that the D-8 member countries, almost all of which are Muslim countries, managed to export close to $1.5 trillion. “However, our trade with each other is only $110 billion. That's not enough. We need a better trade and investment environment between our countries. We need to expand the scope of our preferential trade agreement.”
TOBB
President M. Rifat Hisarcıklıoğlu and Trade Minister Ruhsar Pekcan participated
in the D-8 Business Forum held online within the scope of the 10th
D-8 Dhaka Summit in cooperation with TOBB, Bangladesh Federation of Chambers of
Commerce and Industry (FBCCI) and D-8 CCI. Bangladesh Trade Minister Tipu
Munshi and Bangladeshi Foreign Minister Abdul Momen were also present.
TOBB
President Hisarcıklıoğlu reminded that Commerce Minister Ruhsar Pekcan has
always been a strong advocate for women trying to develop women's
entrepreneurship, and underlined that Pekcan has also been the leader of TOBB
Women Entrepreneurs Council for many years.
Hisarcıklıoğlu
reminded that the idea of cooperation between developing Muslim countries was
proposed by Necmettin Erbakan 24 years ago, noting that after 24 years, the D-8
Organization has improved and helped deepen and strengthen relations between
Turkey and the participating countries.
- “We must grow our $110 billion
trade”
Hisarcıklıoğlu
underlined that the well-being of the population of more than 1 billion D-8
countries depends on economic power, and emphasized that D-8 member countries
produce around $4 trillion in Gross Domestic Product. D-8 countries managed to
export around $1.5 trillion, “However, our intra-trade is only $110 billion.
That's not enough. We need a better trade and investment environment between
our countries. We need to expand the scope of our preferential trade agreement.
Our member states must have full participation in this agreement. We need
better physical and legal infrastructure for better connectivity. This should
include visa-free travel between our countries. Therefore, in addition to the
responsibilities of our governments, D-8 imposes a very important obligation on
the Chamber of Commerce (CCI). We need to be aware that this is the only
umbrella organization in the private sector within the D-8.”
Hisarcıklıoğlu
stated that Turkey has attached a special importance to D-8 since its
inception, and that he took over the Presidency of the Organization at the 9th
D-8 Summit in Istanbul in October 2017. Hisarcıklıoğlu stated that it is time
to hand over his position as chairman at the D-8 CCI to Sheikh Fazle Fahim, “I
am really honored and pleased to hand over the chairmanship of the D-8 CCI. My
support will always be available when you need it. I'm sure all D-8 national
chambers will continue to support it. Hopefully, this pandemic will end soon
and we will have our meetings and business events face-to-face. I wish you good
luck and great success.”
- Minister of Commerce Ruhsar
Pekcan
Commerce
Minister Ruhsar Pekcan stated that the trade volume of the D-8 countries, which
consists entirely of Muslim countries, is $1.6 trillion, of which only 6.5
percent is between D-8 member states. “Therefore, I think we should improve our
trade relations. In particular, we must work towards the goal of reaching a
trade volume of $500 billion within the D-8. The roadmap laid out at the 6th
D-8 summit set a trade volume target of $500 billion. In this context, the D-8
Preferential Trade Agreement would be very important.”
Minister
Pekcan stressed that it is very important for each country to trade together
with D-8 member Muslim countries and called for improved trade volume.
Minister
Pekcan stated that they believe that international trade and international
business relations should be constructive, adding that D-8 member states should
benefit from all efforts to improve their prosperity.
- “We need to improve our trade relations”
Minister
Pekcan stated that they believe in the potential of the D-8 countries and
stressed that there are very important economic and political actors in the D-8
member states. Pekcan reported approximately $4 trillion in Gross Domestic
Product (GDP) and 90 percent of non-energy exports within members of the
Organization of Islamic Cooperation. “The total trade volume of the D-8
countries is $1.6 trillion. Only 6.5 percent of this is derived from trade
within the D-8. Therefore, I think we should improve our trade relations. In
particular, we must work towards the goal of reaching a trade volume of $500
billion within the D-8. The roadmap laid out at the 6th D-8 summit
set a trade volume target of $500 billion. In this context, the D-8 Preference
Trade Agreement can be very important.”
Underlining
that Turkey has started to implement the Preferential Trade Agreement, Pekcan
said that they expect Indonesia, Bangladesh, Nigeria and Pakistan in particular
to move to the implementation phase as soon as possible and they want to see
these countries in the agreement. “As Turkey, we are ready to work together
with our D-8 partners in these innovative areas.”
Minister
Pekcan noted that in addition to the Trade Agreement, incentives should be made
to improve investor relations. At the same time, I want to emphasize that we
need to cooperate on digital economy, digitalization and e-Commerce. As Turkey,
we are ready to work together with our D-8 partners in these innovative areas.”
Minister
Pekcan stated that another important issue is cooperation between the D-8
countries on issues related to facilitation of trade and especially customs
procedures. Pekcan noted that the D-8 countries have the opportunity to
cooperate and partner at the technical level. It would be really useful to
encourage cooperation at such a technical level.”
- Other participants
Also
attending the meeting were Sheikh Fazla Fahim, President of the Federation of
Bangladesh Chambers of Commerce and Industry (FBCCI), D-8 Secretary General
Dato' Ku Jaafar Ku Shaari, Indonesian Deputy Minister of Commerce Jerry
Samguaga, Bangladesh Deputy Foreign Minister Shahriar Alam, FBCCI Vice
President Muntakim Ashraf, Federation of Egyptian Chambers of Commerce (FEDCOC)
President Ibrahim Mahmoud El Araby, Indonesian Chamber of Commerce and Industry
Vice President Shinta Kamdani, Iranian Chamber of Commerce, Industries, Mines
and Agriculture Vice President Mohammad Reza Karbasi Malaysian National Chamber
of Commerce and Industry (NCCIM) President Tan Sri Datuk Ter Leong Yap,
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture
(NACCIMA) President Hajiya Saratu Iya Aliyu, Pakistan Federation of Chambers of
Commerce and Industry (FPCCI) President Nasser Hyatt Magoo.