Nigeria hosts D8 trade talks

Abuja Gate, Nigeria holds D8 trade talks

Wikipedia-Chippla

Nigeria is set to host trade talks among the Developing Eight as part of efforts to promote economical cooperation within member states and Africa. The country is one of the two African members of the D8, together with Egypt.

The news came after the D8 summit in Islamabad ended.

"I will be hosting the trade and industry ministers from the D8 countries sometime around February 2013 to come up with a strategy plan on how we can increase trade within the D8," Olusegun Aganga, the country's Minister of Trade and Investment, told reporters.

Aganga also held talks about plans to boost trade in Africa with his Egyptian counterpart on the sidelines of the summit.

When speaking to reporters, he stated that African intra trade is limited, about 12 percent, whereas Europe and Asia's intra trade stands at 60 percent or more. In order to tackle this problem, Nigeria is scheduled to host a meeting with Egypt, Kenya and South Africa next year.

The D8 is a group of developing countries with large Muslim population, which include Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.