Pakistan has ratified the D-8 Preferential Trade Agreement (PTA). The Instrument of Ratification was handed over to the D-8 Secretary General Dr Widi A. Pratikto by the Consul General of Pakistan Dr Yousaf Junaid in Istanbul on Friday, Press Attaché Pakistan Embassy of Pakistan in Turkey Abdul Akbar told Business Recorder in an E-mail message.
The ratification of D-8 PTA by Pakistan signifies its commitment to the D-8 objectives of promoting and developing economic and commercial cooperation among the member states of D-8 group, he added. The D-8 Group was established in 1997 at the initiative of Turkey, to promote development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
The establishment of D-8 was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997. D-8 member countries have a population of more than 961 million which represents almost 15% of the world population. Total trade among D-8 countries has grown from US $14.5 billion in 1999 to US $1.15 trillion in 2009.
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