The Group of Eight Developing Islamic Countries (D8) is moving on the right track in enhancing cooperation among themselves, an Iranian official said here on Sunday, Xinhua reported.
Iranian Foreign Affairs Minister Manouchehr Mottaki told Bernama, Malaysia's national news agency, that the Preferential Trade Agreement (PTA), Customs Cooperation Agreement and Visa Agreement signed provided rooms for future cooperation.
The agreements also allowed for expansion between member countries, added the minister who arrived here on Sunday to attend the D8 meeting scheduled to be held on Nov. 2.
The D8 member countries cooperate in various areas, especially trade and economy.
The PTA, signed in Bali in 2005, will be a catalyst to boost D8 intra trade which stands at 1.2 trillion U.S. dollars when it comes into force.
Mottaki said D8 member countries had targeted an increase of intra trade from 5 percent of the total global trade to 15 to 20 percent by 2018.
The D8 meeting will discuss the action plan of the Ten-Year Roadmap aiming to encourage greater economic cooperation and resources mobilization between member states.
D8 moving on right track: Iranian FM
The Group of Eight Developing Islamic Countries (D8) is moving on the right track in enhancing cooperation among themselves, an Iranian official said here on Sunday, Xinhua reported.
