D8 countries resolved to trade with nat'l currency

Ankara, Nov 4, IRNA - Foreign ministers of the eight Islamic developing countries, called D8, during a two-day summit at the Cornelia Hotel in Antalya, Turkey, voiced their resolve to trade with their national currency. The D8 states also voiced their opposition to unilateralism by certain countries. The group of D8 countries which include eight Islamic countries of Iran, Indonesia, Bangladesh, Pakistan, Turkey, Malaysia, Egypt and Nigeria has been formed in 1997 with the objective to develop economic relations among its member-states. The heads of the member-states of the organization, whose secretariat is located in the city of Istanbul, convenes once every two years, and so far, there are 9 summits, and the foreign ministers of the organization make up a working session each year which in Antalya, Turkey hosted the eighteenth round over past two days. Participating delegations emphasized the need for countering unilateralism by some countries and in addition to examining ways for developing economic relations among the members in the 10-year perspective 2020-2030, called for the serious efforts of the member countries to trade in national currency among its members. Although, contrary to the previous announcement, the final statement of this summit was not published, but all approvals announced at the meeting were approved by secretariat. Abolqasem Tahmasebi, head of the Islamic Republic of Iran's team of experts, told the Islamic Republic News Agency (IRNA) correspondent at the D8 Special Commission in Antalya that at the meeting, the commission, which was attended by experts from eight member countries, reviewed the issues of the annual work of the group as well as the program and budget of the organization and approved it. He added,”In addition, the establishment of barter trade chamber of D8 Group was approved, under which a mechanism other than the dollar and euro currencies in the trade between the members was emphasized and the use of national currencies in trade between them was prioritized.'