Tuesday, July 6, 2010

Nigeria Assumes Chairmanship of the D8 Group

Nigeria has assumed Chairmanship of the Commission of D-8 countries for two years, as it hosts the current 28th Session of the Commission.

The D-8 Commission comprises the developing nations of Nigeria, Egypt, Turkey, Malaysia, Bangladesh, Indonesia, Iran, and Pakistan, and aims at promoting economic growth and development among member-countries.

The session, which opened yesterday, had the Permanent Secretary in the Ministry of Foreign Affairs, Martin Uhomoibhi, representing the country as Chairman of Commissioners at the opening ceremony.

Mr Uhomoibhi lauded the achievements of the Commission since inception in 1997, noting that “bilateral trade relations are on the upswing among member-states”. He noted that the achievements would be improved upon to include other areas of development, as contained in the D-8 Roadmap.

Uhomoibhi said that under the chair of Nigeria, issues bordering on Preferential Trade Agreement and harmonisation of visa regimes would be addressed, in a bid to boost the contribution of members to global trade, from 5 per cent or $1.2 trillion to 15-20 per cent by 2018.

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