Prime Minister Sheikh Hasina said that it will be possible to build a strong D8 economic zone within the next decade. She said that the implementation of Preferential Trade Agreements (PTAs) is critical to a successful D8. This will help us accelerate business prospects and opportunities. Over the next decade, we should aim to double trade between the D8 countries from 129 billion dollars. If we start this process now, we will be able to build a strong D8 economic zone by this time.
She said these things on the occasion of the 20th ministerial level session of the Economic Cooperation International Alliance D8 organised at a hotel in the capital on Wednesday (27 July). The Prime Minister joined the program virtually from Ganobhaban.
The Prime Minister said that the world is going through a difficult time due to COVID-19, war, food, and energy crisis, climate change, and natural disasters. In this situation, our multilateral cooperation should be stronger and more focused on global solidarity than at any other time. We have taken comprehensive measures in Bangladesh to mitigate the impact of the COVID-19 epidemic on the economy and to maintain the desired growth rate. So far we have announced 28 stimulus packages worth 2 thousand and 300 crore dollars, which is 6.3% of our GDP. A total of 6 crores and 74 lac people and 118 thousand businesses have benefited from this.
At this time, the Prime Minister presented a five-point proposal. In the first proposal, she said, the implementation of PTA is a critical component for a successful D8. Because countries have a large domestic and a combined market, that must be taken into account. Sheikh Hasina said that intra-D8 trade will help to accelerate our business prospects and opportunities. We should aim to double intra-D8 trade from 129 billion dollars over the next decade.
In the second proposal, Sheikh Hasina said that she is ready to give space to the special economic zone of Bangladesh for the investment of the member countries. If we start the process now, we will have a strong D8 economic region within the next decade.
In the third proposal, the Prime Minister said that ICT is a field that has immense potential. The youth of D8 countries can be turned into a strong workforce. She said that about 70% of the population of Bangladesh is below 40 years and we have six and a half lacs registered IT freelancers.
In the fourth proposal, the Prime Minister said that D8 should focus on diversified agricultural production to ensure food security and a stable food supply.
In the fifth and final proposal, the Prime Minister said that all D8 member states should be vigilant about energy consumption and the need for alternative energy sources. She also suggested that the D8 could focus on capacity building by involving other countries that have expertise in alternative energy.
