Bangladesh urges swift implementation of D-8 free trade agreements

Bangladesh has called for the swift finalisation and implementation of free trade agreements (FTAs) and preferential trade agreements (PTAs) to translate the economic potential of D-8 member countries into increased trade and investment.

Dhaka also emphasised expanding reciprocal tariff concessions, removing trade barriers and undertaking institutional reforms and results-oriented initiatives to make the economic bloc more effective, Bangladesh’s Ministry of Commerce said in a statement on Tuesday.

Commerce Minister Khandaker Abdul Muktadir conveyed the position during a bilateral meeting with D-8 Secretary-General Sohail Mahmood on the sidelines of the 42nd Ministerial Conference of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul, Türkiye, on November 2.

The discussions focused on removing existing barriers to trade among member states and strengthening mutual economic cooperation. The two sides also discussed expanding tariff concessions and facilitating trade to unlock the economic potential of member countries.

The commerce minister said boosting trade and investment among D-8 member states was particularly important given the current global economic landscape.

“To achieve this, the D-8 Secretariat needed to play a proactive role in finalising and implementing the frameworks for FTAs and PTAs as quickly as possible. He also called for stronger coordination among member countries,” he said.

Beyond implementing trade agreements, Muktadir stressed the need to improve the bloc's institutional effectiveness. He highlighted the importance of restructuring the D-8 and adopting results-oriented initiatives to make the organisation more meaningful and effective.

In response, D-8 Secretary-General Sohail Mahmood assured the minister that Bangladesh's proposals and interest in expanding economic cooperation and intra-bloc trade would receive positive consideration.

Senior officials from Bangladesh and the D-8 Secretariat were present at the meeting.

The commerce minister is visiting Türkiye to attend the 42nd Ministerial Conference of COMCEC.