Pakistan ratifies D-8 instrument of ratification on trade

ANKARA, December 4: The President of Pakistan signed instrument of ratification for D-8 Multilateral Agreement on Administrative Assistance in Customs Matters.  The original instrument was handed over to the Secretary General of D-8 by Pakistan Consul General in Istanbul on December 1, 2010.

The D-8 Group was established in 1997 at the initiative of the former Turkish Prime Minister Naecmettin Erbakan, to promote development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. The establishment of D-8 was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997.

D-8 member countries have a population of more than 961 million which represents almost 15% of the world population. Total trade among D-8 countries has grown from US$ 14.5 billion in 1999 to US$ 1.15 trillion in 2009.

Pakistan trade with D-8 countries accounts for 8.14% of its overall trade which is the highest as compared to the trade of other D-8 member states with members of the organization. 

ENDS