D-8 CCI foresees trade potential worth $500 bn among member nations

26 Jul '22

1 min read

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The Developing-8 Chambers of Commerce and Industry (D-8 CCI) foresees trade potential worth around $500 billion among member countries within the next few years, according to chamber president Sheikh Fazle Fahim. The Developing-8 is an economic bloc for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkiye.

Fahim was addressing a press conference in Dhaka to announce celebration of the silver jubilee of the bloc’s inception. The D-8 CCI Business Forum and Expo 2022 began in Dhaka today.

He said this year’s business forum and expo would explore the possibilities around building value chain integration between Bangladesh and the seven other member countries of the D-8.

D-8 CCI was founded in 2001 to support cooperation among the business sectors in the member countries.

The chamber is working on a strategic road map for preferential tariff agreement ratification and engagement in value chain integration across the agriculture, manufacturing, tertiary and quaternary sectors, according to Bangladeshi media reports.

Intra-D-8 trade, which stood at around $15 billion in 1997, increased by more than six-fold and was worth $109.2 billion in 2017.

Fibre2Fashion News Desk (DS)

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