FEDCOC mulls economic cooperation with D-8 member states

CAIRO - 17 September 2018: Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC) Ahmed el Wakil on Monday discussed with Secretary General of the D-8 Organization for Economic Cooperation Jaafar Ku Shaari means of promoting economic relations among the D-8 nations.

Wakil highlighted the importance of cooperation among member states to face the global economic challenges, laying an emphasis on the need to remove any inter-trade barriers and surmount obstacles to the flow of trade among the organization members.

Egypt is undergoing an economic revival thanks to the state-adopted economic reform program that aims at pushing up growth rates and luring more investments, Wakil said.

He also noted that the country is currently boasting one of the most investment-friendly markets in the region.

The D-8, also known as Developing-8, is an organization for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. It has its headquarters in Istanbul, Turkey.

The organization objectives 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.

The organization establishment was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997