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.
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.”
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.