The Pakistani Spectator

THE D-8 eight Muslim countries decided to embark on joint ventures to boost food production and endorsed a 10-year blueprint to expand trade cooperation.

In a joint statement, the D-8 summit warned that the shortage and rising prices of food posed a serious threat to socio-economic stability. The summit agreed to take coordinated position in international forums and enhance regional cooperation to promote interests of developing Muslim nation. They accepted a Bangladesh proposal to consider creation of a D-8 Food Fund. On surging oil prices the declaration expressed commitment to efforts in the energy sector and acknowledgment the importance of collaborative efforts to enhance capacity, transfer of technology, and exploration of new sources of supply, development of alternative fuels including renewable sources, as well as peaceful use of nuclear energy. The declaration recognized intra-regional mobility of labor as an effective tool for poverty eradication and development. It was also agreed that members would jointly harness the potential of Islamic banking and finance. It welcomed signing by Malaysia of the agreement of the simplification of visa procedures for D-8 businessman and its ratification by Bangladesh, Iran, Turkey and Pakistan.

The D-8 summit was held at the time when there was a meeting of the group of eight Economic powers, including the US, Britain, Japan, France, Germany, Canada, Russia and Italy. Although there is difference between these two groups-one is an alliance Of developing countries and the other group comprises the worlds most developed countries, both groups expressed their serious concern over the rising oil and food prices, affecting all the nations. The developed and the developing countries admitted that the oil and Food prices pose a serious challenge to all countries. In addition to the oil and food Prices the developing countries, especially the Muslim states, are facing another big challenge, which is in the form of lack of trade among them. There is huge trade deficit Between them and there is an urgent need to decrease it. It has also resulted in the backwardness of the Muslim countries.

If the eight Muslim states of the D-8 decide to Boost their trade relations among them, it will definitely result in forming a strong bloc and help improve the economic and social conditions of their people. Today co country can live in isolation. The entire world has assumed the status of a global village and they are inter-dependent on each other in one form or other.

In this connection the situation in the Muslim countries is very bleak as they are divided.

On almost every international issue. They are still facing a number of economic challenges. On the other hand , if the EU and the US, which constitute over half the worlds export and imports of manufacturers get only the semi-processed raw materials From the developing countries, the prospect of industrial progress for these developing Countries would be very bleak. The most urgent need for the Muslim developing Countries is that they should put more stress on science and technology along with the health sector.

These countries make plans for the development of these fields But they are never implemented. The need of the hour is that the developing Muslim countries should take practical steps for the development of science and technology, health and other related fields if they want to prosper as developed nations.

Sent By Muzafar Naqvi Through Email

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