D-8 Sec-Gen Welcomes Easing Of Sanctions On Iran

Ankara, Feb 5, IRNA – Easing of arbitrary sanctions on Iran will help activate economic cooperation with Iran, Secretary-General of Group Eight developing nations alliance Ali-Mohammad Mousavi said on Tuesday. Speaking to IRNA, Mousavi said, with the sanctions relief, Iran, as an important country in the region and an influential member of the Developing Nations D-8, can find its real status in global trade and among the D-8 developing nations thanks to its abundant economic and trade capacities. The D-8 is a group of developing countries with large Muslim population that have formed an economic alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. The objectives of D-8 are to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at international level, and improve standards of living of the member states. Mousavi, the first ever secretary-general of D-8, referring to the upcoming D-8 Summit due to be held in Turkey, said he had visited Turkish officials, including officials from the countryˈs ministries of foreign affairs and Transport, maritime affairs and telecom to make the preparations for. On the timing and venue of the 9th summit of the D-8, Mousavi said Turkish Foreign Ministry and the prime ministerˈs office are considering the case, but he added it is most likely for the summit to be held within the last quarter of 2014. He called for implementation of trade agreement on preferential tariffs among the member states to boost economic cooperation. Representatives of the eight developing nations signed a Trade Agreement on Preferential Tariffs on May 14, 2006 at the fifth D-8 Summit at Bali, Indonesia. The agreement is designed to gradually reduce tariffs on specific goods between member states, with a supervisory committee overseeing the process. The purpose of the agreement is to reduce barriers to free trade between member states, as well as promote inter-state cooperation./end