D8 Preferential Trade Agreement

Cooperation under the D-8 is mainly on a sectoral basis. Turkey coordinates cooperation activities in the sectors, health and the environment; Bangladesh in rural development; Indonesia in the fight against poverty and human resources; Iran in science and technology; Malaysia in the areas of finance, banking and privatization; Egypt in trade; Nigeria in the energy sector; Pakistan in agriculture and fisheries. The D-8 Organization for Economic Cooperation, also known as Developing-8, is a development cooperation organization between Bangladesh, Egypt, Nigeria, Indonesia, Iran, Malaysia, Pakistan and Turkey. The aim of the Organisation for Economic Cooperation D-8 is to improve the position of Member States in the global economy, diversify trade relations and create new opportunities, improve participation in international decision-making processes and improve living standards. The D-8 is a comprehensive, non-regional agreement, as reflected in the composition of its members. The Organisation for Economic Cooperation (D-8) is a forum without a negative impact on Member States` bilateral and multilateral obligations as a result of their membership in other international or regional organizations. [2] The total population of the eight countries is about 1 billion or 60% of all Muslims, or nearly 13% of the world`s population, and covers an area of 7.6 million square kilometres, or 5% of the world`s land area. [3] In 2006, trade between D-8 Member States was $35 billion, up from about $68 billion in 2010. [4] Transactions between the eight developing countries accounted for 3.3% of world trade in 2010. [4] The D-8 PTA applies to trade in goods that are included in national tariff plans for concessions and originate from members` territories.

Preferential tariff treatment is a special treatment in the form of a preferential tariff for products that meet the original criteria under the relevant agreement. The implementation of the preferential trade agreement will be one of the main achievements of the D-8 organisation in terms of trade development on the basis of free trade principles between Member States. The agreements can be accessed via the ministry of international trade and industry (www.miti.gov.my/) web portal. Only an original copy of CO is considered to require preferential tariff treatment at the time of importation. In addition, the official referred to the trade agreements signed by Iran with several global economic organizations and bodies, including the Eurasian Union, the Organisation for Economic Cooperation (ECO), the Organization of Islamic Cooperation (OIC) and the Organisation for Economic Cooperation D-8, and stated that Iran`s preferential trade agreement with Eurasian Member States had been drawn up in nine chapters of more than 100 articles and that the agreement with the organization D-8 also covered 34 articles.