Says it can help reduce poverty and achieve economic growth. PHOTO: AFP / FILE

20/11/2012 (The Express Tribune) - With the aim of projecting Pakistan as a popular business destination, Prime Minister Raja Pervaiz Ashraf inaugurated on Monday a trade exhibition on the sidelines of the Developing Eight (D-8) Summit scheduled for November 22.

While addressing the opening ceremony of the four-day D-8 Trade Exhibition 2012, the premier stated that the exhibition would bring the business communities of member countries closer and would help in “deepening our trade and … open new vistas for joint ventures.”

Prime Minister Ashraf said: “Pakistan strongly believes in trade instead of seeking aid. If we remain consistent, we will be able to achieve the intra-D-8 trade target of $500 billion till 2018 and we are also committed to increasing our exports from 17% to 25% with the regional countries.”

Terming intra D-8 trade a crucial tool in reducing poverty in the region, the prime minister stated that member countries had a huge market of almost a billion people and intra-trade was the most secure and sure way to improve their economic indicators.

It was revealed that the D-8 countries’ share in global trade has already doubled from $67 billion in 2008 to $130 billion last year, and during the current event a strategy will be chalked out to increase the share by another 15%.

D-8 commission meeting
The two-day meeting of the commission of the eight developing countries and a two-day trade talk also commenced on Monday. The events were held to discuss the preparation of the summit to be held on Thursday.

Avoid speculation: Khar
Meanwhile, Foreign Minister Hina Rabbani Khar dispelled impressions regarding a refusal from Bangladesh Prime Minister Sheikh Haseena to attend the Developing Eight (D-8) Summit in Islamabad.

“There could be numerous reasons behind it, not just the ones circulating in the media. We should refrain from speculating on these things,” insisted Khar.