Latest news with #D-8
The Sun
an hour ago
- Business
- The Sun
Malaysia reaffirms commitment to D-8 economic cooperation revival
KUALA LUMPUR: Malaysia is dedicated to revitalising economic collaboration among Developing Eight (D-8) member nations through strategic measures. The Ministry of Investment, Trade and Industry (MITI) highlighted the D-8 Preferential Trade Agreement (D-8 PTA) as a key initiative, effective since October 2023. 'Malaysia and Indonesia act as bridges connecting D-8 to ASEAN and APEC markets, while Egypt and Nigeria provide access to Africa,' MITI stated. Iran, Pakistan, and Bangladesh serve as gateways to South and Central Asia, according to the ministry's parliamentary reply. The statement addressed Datuk Seri Dr Ahmad Samsuri Mokhtar's query on D-8 revival strategies for tourism, food security, trade, and renewable energy. MITI supports upgrading the D-8 PTA into a Comprehensive Economic Partnership Agreement (CEPA) to include services and investment. The D-8 Roadmap 2020–2030 aims to boost intra-trade to US$500 billion by 2030, up from US$157.06 billion in 2024. Malaysia leads initiatives like the D-8 Centre for Creative Economy and Finance in Kuala Lumpur to foster digital trade. The D-8 Payment Card (D-8PC) will streamline transactions and encourage investment among member states. MITI leverages the Malaysia International Halal Showcase (MIHAS) to expand halal trade opportunities within D-8. Collaborations with D-8 bodies focus on tourism, aviation, and high-value agricultural commodities like palm oil and rice. Joint investments in solar energy, biomass, and clean energy technologies are also prioritised. The D-8, formed in 1997, comprises Malaysia, Egypt, Indonesia, Iran, Bangladesh, Nigeria, Pakistan, and Türkiye. Its goal is to enhance economic development among member nations. - Bernama
Egypt Independent
2 days ago
- Business
- Egypt Independent
In exclusive interview, Pakistan's ambassador to Cairo talks relations with Egypt, Cairo's role in halting the Gaza war, and situation with India
In an exclusive interview, Pakistan's ambassador to Cairo, Amir Shouket, stated that his nation appreciates the role Egypt has played in halting the war on the Gaza Strip. He noted that Egypt was among the first countries to recognize Pakistan, and the two countries exchanged resident ambassadors in 1948. Pakistan views Egypt as a country of great importance in the Middle East and the Islamic world. He also warned that the conflict in Kashmir will remain as a source of tension between India and Pakistan. Interview How do you view relations between Egypt and Pakistan, politically and economically? Relations between Pakistan and Egypt are feature common bonds of faith, cultural affinities and similar views towards regional and international issues. Egypt was among the first countries to recognize Pakistan and the two countries exchanged resident Ambassadors in 1948. Pakistan views Egypt as a significantly important country in the Middle East as well as in the Islamic world; Pakistan and Egypt are also both members of OIC, and D-8. In relatively recent history, Pakistan's national poet Allama Mohammad Iqbal visited Egypt (Alexandria and Cairo) in 1931. During his visit, he met the Egyptian intelligentsia, religious and political leaders as well as student leaders. Later in 1946, the founder of Pakistan Muhammad Ali Jinnah and the First Prime Minister of Pakistan visited Egypt and met with Egyptian political leaders and the Grand Imam of Al-Azhar. In subsequent years, Presidents from Egypt and Pakistan, Prime Ministers from Pakistan and Ministers from both countries paid several visits. It is encouraging that the leadership of our two countries met during the recent years and reaffirmed their mutual desire to transform the existing bilateral relationship into a strong partnership to benefit of peoples of our two brotherly countries. We are eagerly waiting for the visit of President Abdel Fattah al-Sisi to Pakistan. Egypt is a gateway to Africa. Pakistan is gateway to Central Asia. There is immense scope, potential and mutual desire of the leadership of these two countries to capitalize this potential and geo-strategic location to significantly enhance the existing volume of bilateral trade for the benefit of the peoples of the two countries. What is the volume of trade between the two countries, and what are the ways to increase it? Bilateral trade, which usually hovered around US$200-300 million, jumped to around $605 million in 2022 following a spike in imports of mineral fuels from Egypt, before it declined due to global economic conditions. There are a number of areas in which both countries can enhance their cooperation, such as science and technology, information technology, tourism and housing. In September 2023, the Pakistan-Egypt Business Opportunities Conference was organized by the Embassy in collaboration with Rawalpindi Chamber of Commerce. Almost 150 delegates from Pakistan participated in the Conference. Pakistan also organized the Fourth Pakistan-Africa Trade Development Conference and Single Country Exhibition in Egypt at Cairo in January 2024. The existing bilateral consultation system between Pakistan and Egypt consists of a Joint Ministerial Committee that covers a range of diverse avenues of cooperation including bilateral trade. Recently, frequent interactions between DPM/Foreign Minister Senator Mohammad Ishaq Dar & Foreign Minister of Egypt Badr Abdelatty have further strengthened the mutual desire to consolidate the existing mechanism of cooperation particularly enhancement in bilateral trade between Pakistan and Egypt. There is immense potential for investments in textile sector, sports goods, real estate, tourism and hospitality sector, mining sector waiting to be capitalized by both the countries. Since the past two years, the Special Investment Facilitation Council (SIFC) has offered one window swift facilitation for foreign investors in Pakistan. Additionally, the simplification of VISA regime for 126 countries, including Egypt, offers Pakistan as an ideal avenue for investment. Apart from these incentives there is huge potential for investment in agriculture, clean energy sectors of Pakistan. Information Technology and software development sectors have witnessed phenomenal increase in return on investments for prospective investors. With approximately 700,000 IT workforce members and 60 percent of the population being young, Pakistan is poised to produce more engineers and developers in the IT sector. In your opinion, what is Pakistan's view of Egypt's role in stopping the war on Gaza, and is the idea of normalization with Israel impossible? Regarding Gaza, Egypt and Pakistan have pushed for ceasefire right from the beginning. Both countries share an identical stance on the Gaza and Palestine issue at numerous regional and multilateral forums. Pakistan is closely supporting provision of humanitarian assistance for the residents of Gaza in active collaboration and cooperation with Egypt. On a solution for the Gaza catastrophe, Pakistan is fully aligned with Egypt. We highly value Egypt's pivotal role in containing Israel's aggression and continuously engaging all the stake-holders to find a permanent and lasting solution to the conflict. Is the situation with India currently calm, and what is the solution to end the tension? Pakistan adheres to the ceasefire with India agreed after the intervention of President Trump. We welcome President Trump's statements regarding the threat posed by unprovoked recent Indian aggression against Pakistan, and his intent to mediate on Kashmir dispute. Pakistan has historically maintained its legitimate and decades old principled stance that Kashmir dispute should be resolved by fully implementing the relevant UNSC resolutions and in accordance with the wishes and aspirations of people of Kashmir. Kashmir issue is an unfinished agenda of the partition of the sub-continent and UNSC. This dispute will remain one of the central issues behind tension between Pakistan and India. The other issue is the Indus Water Treaty which can trigger escalation between two nuclear states at any time. How did Pakistan defeat India in its last war? Pakistan believes in peaceful neighborhood, regional peace and development, and prosperity for the residents of more than a billion people in South Asia. We respect sovereignty, territorial integrity and unity of all other states, and do not harbor nefarious designs against any regional state. However, we maintain minimum credible deterrence for preserving strategic balance in South Asia. The unprovoked Indian aggression, despite Pakistan's consistent offer to investigate the Pahalgam terror attack, enlisting international state(s) supported by credible evidence was outright rejected by India. Still, Pakistan responded in a measured, mature and firm manner without targeting civilian installations. Our Air warriors did not leave Indian birds, who launched missiles targeting innocent civilians, to see light of the next day. Through indigenous technology harmoniously employed throughout the conflict, Pakistan proved its superiority in the face of naked Indian aggression. Above all, the resolve of the entire nation reinvigorated the spirit of Pakistan Armed Forces towards a decisive victory. How do you view the Iran-Israel war? Pakistan is non-permanent member of United Nations Security Council. Our permanent representative in the UN requested urgent meeting at UNSC at the outset of Iran-Israel war. We have clearly and unequivocally termed the Israeli attack on nuclear facilities in Iran as illegitimate. These facilities are under the safeguards of UN. Therefore, Israel's aggression is highly condemnable and dangerous for regional stability. Pakistan is in favor of dialogue and diplomacy. We've seen Pakistan announce its support for Iran. What form will this support take, and will it arm Tehran? Pakistan supports Iran diplomatically, politically and as a brotherly neighboring country. Our DPM/Foreign Minister had categorically rejected fake news and misinformation manufactured regarding Pakistan's arms support to Iran. Why did Pakistan close its border with Iran amid the escalation with Israel? We did not close our borders with Iran. However, we established the monitoring mechanism on our border crossings with Iran in view of presence of Pakistan's Zaireen and students who were stranded in Iran after the Israeli aggression. What message you would like to give on the Independence Day of Pakistan this year? This year, Independence Day is being observed with a unique, illustrious stature as witnessed by the entire global community where Pakistan beams brilliantly after inflicting a well resonated, firm response to the aggression during the glorious Operation 'Bunyan Al-Marsoos'. We bow our heads in respect and express infinite gratitude to Almighty Allah for enabling us to defend our motherland, and defying hardly the ill-fated attempt of establishing a new normal in South Asia, in a manner never witnessed in our history. I express my profound admiration for small but dynamic Pakistan community in Egypt for their good work towards consolidating existing bond of friendship between the two brotherly countries. While we commemorate this significantly special Independence Day, we should not forget our brothers and sisters in the Indian Illegally Occupied Jammu and Kashmir (IIOJK) and Palestine. They are subjected to oppression and worst kind of human rights abuses. Still, they are upholding the spirit of freedom alive. Peace in South Asia and the Middle East will remain elusive till the resolution of these two decades old promised issues by the United Nations relevant resolutions, and in accordance with the wishes and aspirations of Kashmiris and Palestinians. We remain steadfast in raising our voice for Palestinians and for the Kashmiris' right to self-determination.
Business Recorder
3 days ago
- Business
- Business Recorder
PM for enhancing trade, people-to-people ties with BD
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday emphasized the importance of strengthening political, economic, and cultural ties between Pakistan and Bangladesh, reaffirming Pakistan's commitment to expanding trade and enhancing people-to-people connections with its neighbor. Talking to Muhammad Iqbal Hussain Khan, the High Commissioner of Bangladesh to Pakistan, Sharif called for sustained momentum in bilateral cooperation. He expressed satisfaction with the growing collaboration between the two countries across various sectors. Recalling his recent discussions with Bangladesh's Chief Advisor, Dr Muhammad Yunus, at the D-8 summit in Cairo last December, the prime minister highlighted the need to reinvigorate bilateral mechanisms to further deepen relations. On his part, High Commissioner Khan conveyed initiatives underway to facilitate travel, trade, and communication between Pakistan and Bangladesh. He reaffirmed his country's eagerness to nurture the historic bonds of friendship. Sharif wished the envoy success in his duties and assured the government's full cooperation. Both leaders expressed confidence that their collaborative efforts would yield positive progress in Pakistan-Bangladesh relations during Khan's tenure. Separately, Minister for Petroleum Ali Pervaiz Malik met with the prime minister to discuss matters of mutual interest. The two reviewed key issues related to the Petroleum Division in detail, according to officials. In another meeting, Minister for Power Awais Leghari called on the prime minister to discuss developments pertaining to the Power Division. The overall political situation in the country also came under discussion during the meeting, according to a statement issued by the Prime Minister's Office. Copyright Business Recorder, 2025
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First Post
05-08-2025
- Politics
- First Post
One year after Hasina ouster, how Yunus' Bangladesh has bridged the gap with Pakistan
One year after Sheikh Hasina's dramatic exit, Bangladesh under interim leader Muhammad Yunus has forged stronger ties with Pakistan in trade and defence. As Dhaka repositions itself away from New Delhi's orbit, the evolving relationship with Islamabad raises questions for India read more Bangladesh Chief Adviser Professor Muhammad Yunus (R) holds a bilateral meeting with Pakistan Prime Minister Shehbaz Sharif on the sidelines of the D-8 summit in Cairo, Egypt on December 19, 2024. Image/X-ChiefAdviserGoB One this day last year, a mass uprising gripped Bangladesh as the long-serving Prime Minister Sheikh Hasina was forced to step down and flee to India. The wave of unrest, which initially stemmed from discontent over government job quota reforms, quickly morphed into a widespread movement challenging Hasina's leadership of 15 years. The situation escalated when security forces, allegedly acting on the prime minister's orders, unleashed violent crackdowns on demonstrators, resulting in approximately 1,400 deaths and thousands of injuries, according to estimates from the United Nations. STORY CONTINUES BELOW THIS AD The upheaval reached a climax on August 5, when General Waker-Uz-Zaman of the Bangladesh Army addressed the nation at noon. At the same time, furious citizens had already taken over major state symbols — the Prime Minister's Office, the Ganabhaban residence, and the national parliament complex. Police stations across the country came under attack, and the government's hold on power collapsed. Anti-government protesters display Bangladesh's national flag as they storm Prime Minister Sheikh Hasina's palace in Dhaka on August 5, 2024. File Image/AFP In the vacuum that followed, Nobel Peace Prize laureate Muhammad Yunus assumed charge as the interim head of government. He promised reforms, a new electoral process, and a return to stability. Although political turmoil is not alien to Bangladesh — a country familiar with military coups and street agitations since gaining independence in 1971 — this was the first instance of a sitting prime minister fleeing the country under such dramatic circumstances. How Yunus' diplomacy realigned Bangladesh Muhammad Yunus's arrival marked a distinct departure from the geopolitical orientation that had defined the Hasina years. One of the most noticeable changes has been the recalibration of Bangladesh's foreign relations, especially its outreach toward Pakistan — a nation with which ties had remained frosty since the 1971 Liberation War. Yunus has engaged in two high-profile meetings with Pakistani Prime Minister Shehbaz Sharif — once on the sidelines of the UN General Assembly in New York last year and later during the D-8 summit in Cairo. These meetings have contributed to a thaw in relations and initiated a series of cooperative efforts between the two nations. STORY CONTINUES BELOW THIS AD In contrast, Yunus's engagement with India — traditionally Bangladesh's closest strategic partner — has been far less frequent. He met Indian Prime Minister Narendra Modi only in April at a regional summit in Bangkok, fuelling perceptions in New Delhi that the new interim leadership was repositioning its alliances. Prime Minister Narendra Modi meets Bangladesh's interim government head Muhammad Yunus in Bangkok, Thailand, on April 4, 2025. File Image/PIB Hasina's administration had fostered particularly close economic, defence and infrastructural ties with India, which are now seemingly being diluted. Yunus has voiced criticisms of India's narrow focus on cultivating ties primarily through Hasina. His administration has taken a less vocal stance on issues like the safety of Bangladesh's Hindu minority — a recurring concern for New Delhi — and opened the door to increased Chinese investments, moves that have unsettled Indian policymakers. How Yunus' Bangladesh has moved closer to Pakistan Resumption of trade with Pakistan Bangladesh resumed direct trade with Pakistan — an act not seen since the two nations severed formal economic ties following Bangladesh's secession in 1971. The reinstatement of bilateral trade led to a measurable boost: trade between August and December 2024 reportedly rose by 27 per cent compared to the same period the previous year. This turnaround was facilitated by several strategic decisions. In September 2024, Bangladesh removed its longstanding policy of conducting full physical inspections on all Pakistani imports, a move that significantly cut shipping times and reduced operational costs for businesses. STORY CONTINUES BELOW THIS AD By November, for the first time in 53 years, two Pakistani cargo ships docked at Chittagong Port with shipments of sugar and potatoes. The following month, Bangladeshi authorities granted Pakistani vessels access to Mongla Port as well. Efforts to foster private-sector collaboration also gained momentum. On January 13, both governments signed a memorandum of understanding to create a joint business council aimed at deepening commercial ties and coordinating trade promotion activities. However, this realignment came at a cost to India-Bangladesh trade, which reportedly fell by approximately 9.5 per cent in the latter half of 2024. Easing borders with Pakistan Bangladesh's interim government reversed Hasina-era restrictions on visa processing for Pakistani nationals, streamlining access that had previously required security clearances from multiple state agencies. In return, Pakistan waived visa fees and abolished the need for Bangladeshi travellers to undergo security vetting. Direct air travel, suspended since 2018, is expected to resume shortly, further enhancing people-to-people contact. Additionally, Pakistan extended an offer of 300 fully-funded scholarships for Bangladeshi students to pursue higher education in its universities. This academic initiative, announced in December last year, aims to foster long-term cultural ties and cooperation in science and technology. STORY CONTINUES BELOW THIS AD Track II diplomacy also resumed, with Pakistani academics participating in the 'Bay of Bengal Conversation' seminar in Dhaka in November. The cultural sphere was activated through a Pakistani artist's visit to Bangladesh and the Bangladeshi cricket team's tour of Pakistan, both of which were praised as symbolic gestures of renewed friendship. Military engagement with Pakistan In what is arguably the most strategic component of this evolving relationship, defence ties between Bangladesh and Pakistan have grown stronger in the past year. A major breakthrough occurred in January when a high-level delegation from Dhaka, led by Lt Gen SM Kamrul-Hassan, visited Pakistan for meetings with top military officials including Army Chief Field Marshal Gen Asim Munir. Discussions covered a wide range of topics, from regional security cooperation to joint training exercises and potential arms transfers. Pakistan described the talks as indicative of a 'brotherly' relationship, and the tone of engagement suggested a mutual intent to reshape the defence dynamic of South Asia. The Bangladesh Navy's participation in 'Aman 2025,' a multinational naval exercise hosted by Pakistan off the Karachi coast in February, was a particularly notable event. STORY CONTINUES BELOW THIS AD The deployment of BNS Samudra Joy marked the first time in over a decade that a major Bangladeshi warship had docked in Pakistan. Reports also indicate that Bangladesh placed orders between September and December 2024 for 40,000 rounds of artillery ammunition, 2,000 rounds of tank ammunition, and 40 tonnes of RDX — tripling its imports from the previous year. These purchases align with Bangladesh's broader military modernisation agenda, dubbed 'Forces Goal 2030,' and represent a significant shift in its procurement sources. There is also strong interest from Dhaka in acquiring JF-17 Thunder fighter jets — co-developed by Pakistan and China — to further support its air force modernisation. Training programmes are also underway and it was reported that from February, a Pakistani Major General would oversee instruction at Bangladesh's Momenshahi Cantonment. High-level visits with Pakistan Between late January and early February, Pakistan's Inter-Services Intelligence (ISI) chief Lt Gen Asim Malik made an unprecedented visit to Rangpur, Bangladesh. The visit drew attention in India, particularly due to its proximity to India's northeastern states, heightening regional security sensitivities. Admiral Mohammad Nazmul Hassan, Bangladesh's chief of naval staff, met with Pakistan's army commander, Syed Asim Munir Ahmed Shah. STORY CONTINUES BELOW THIS AD In June, three senior officers of the Pakistan Army visited Bangladesh and proceeded to the headquarters of the 10th Infantry Division in Ramu, located near the Myanmar border. These visits suggested possible coordination on border security issues, including those relating to the Rohingya refugee crisis. On July 23, Pakistan's Interior Minister Mohsin Naqvi met Bangladesh's Home Adviser, Lt Gen (Retd) Md Jahangir Alam Chowdhury, in Dhaka. Naqvi proposed memorandums of understanding to enhance police cooperation, including officer exchanges between academies. With Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar set to visit Dhaka on August 23 this year, relations between the two countries appear set for further consolidation. Dar's upcoming talks with Bangladeshi Foreign Advisor Touhid Hossain are expected to be about new agreements across sectors. One lingering divide between Bangladesh-Pakistan: 1971 Despite the recent warmth, the shadow of the 1971 Liberation War continues to affect Bangladesh-Pakistan relations. In October 2024, Bangladesh's Foreign Adviser Md. Touhid Hossain publicly stated that reconciliation would be easier if Pakistan issued an apology for wartime atrocities. During the December D-8 summit in Cairo, Yunus reiterated these demands to Sharif, asking for the resolution of lingering historical issues. Sharif, in response, said that 'main issues had been resolved' under the 1972 Shimla Agreement, but expressed openness to reviewing remaining concerns. STORY CONTINUES BELOW THIS AD On April 17, Bangladesh formally repeated its demand for a public apology and raised additional issues — including the repatriation of more than 300,000 stranded Pakistanis, repayment of a $4.5 billion debt it claims Pakistan owes, equitable distribution of the former country's assets, and the transfer of cyclone relief aid from 1970. During a meeting between Foreign secretaries Md. Jashim Uddin and Amna Baloch at the Padma State Guest House, Dhaka once again flagged these 'historically unresolved issues.' Also Watch: With inputs from agencies
Business Recorder
25-06-2025
- Business
- Business Recorder
FPCCI underscores need to expand trade with Turkiye
KARACHI: Atif Ikram Sheikh, President FPCCI has underscored the need to further expand bilateral trade and economic relations, stating that the current trade volume between Pakistan and Turkiye does not truly reflect the historic brotherly ties and close diplomatic relations between the two nations. Speaking at Pakistan-Turkey Business Council of FPCCI meeting, he highlighted the importance of strengthening institutional linkages and private sector cooperation to unlock the full potential of Pakistan-Turkey trade at FPCCI Head Office Karachi under the chairmanship of Saquib Fayyaz Maggo, Senior Vice President FPCCI. He reaffirmed FPCCI's commitment to facilitating greater business-to-business linkages between Pakistan and Turkey. He appreciated Turkey's continued support in various sectors and expressed optimism that stronger economic partnerships would benefit both nations. He called upon both governments to create a more enabling environment for trade and investment through swift policy measures. Delivering his keynote remarks, Syed Mazhar Ali Nasir, Chairman of the Council emphasized the urgent need for the early signing of a Free Trade Agreement (FTA) between Pakistan and Turkey. He noted that despite the shared membership of platforms such as OIC, D-8, and ECO, bilateral trade between the two brotherly countries remains below potential. He pointed out that bilateral trade has stagnated at under US $1 billion, with Pakistan's share standing at approximately US $366 million in 2024. He highlighted that Pakistan's exports to Turkey; including textiles, denim, sports goods, surgical instruments, and rice are in high demand and can play a vital role in balancing trade. He further stressed that improvements in trade routes, banking channels, and logistics connectivity would help bilateral trade flourish and meet the expectations of the two nations' business communities. Cemal Sangu Consul General of Turkiye in Karachi appreciated FPCCI's efforts in promoting bilateral trade and assured the Council of Turkey's willingness to explore new avenues of cooperation. He reiterated that both countries have great potential to expand trade in sectors such as construction, tourism, engineering, and food processing. Copyright Business Recorder, 2025
