Cooperation amongst D-8 states underlined

The government has underlined the need for cooperation amongst D-8 group of countries on Small and Medium Enterprises (SMEs) development to reduce poverty, unemployment and increase their trade volume in the global market.
These developing countries, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey, have agreed to work together for the development of SMEs and their representatives are here to discuss and develop a mechanism to share data collection, classification and management of SMEs by the member countries.
The 2-day workshop organised by Small and Medium Enterprise Development Authority (Smeda) is aimed at developing a foolproof system of data sharing among the group, a first step towards forging co-operation with long-term objectives to improve trade in the international market. A Smeda official while talking to Business Recorder said the objectives are to improve developing countries position in the world economy. To diversify and create new opportunities in trade relations, enhance participation in decision making, he added.
The D-8 countries collective trade share is mere 4 percent in the international market while the intra-trade, which increased from 14.5 billion dollar to 21.3 billion dollar during the last ten years could be increased further through realising the importance of SMEs and their contribution to economic growth, employment generation and poverty eradication. It is with this background, he said the present D-8 countries co-operation is fostered for using regional experiences in all related areas.
Secretary Statistic Division, Asad Ellahi in his opening remarks highlighted the significance of SMEs in the world developed and developing economies. He called upon the member countries to make the workshop more productive by sharing their knowledge on SMEs management and data collection. The increasing level of unemployment and poverty in the developing countries can be reduced through promotion of SMEs, the only source that can provide equal opportunity and generate more jobs at the lowest per capita cost, he added.
The inaugural session was followed by the two working sessions, which were chaired by Ijaz Shafi Gilani Chairman Gallop and Jamil Afaqi of Smeda. It is likely that the workshop to be concluded on Tuesday will come up with some recommendations and a final report by the Smeda later on. Subsequently, a framework on data collection, classification and management of SMEs in the light of those proposals will be formed.