Bangladesh (Commonwealth Union)_ Bangladesh Prime Minister Sheikh Hasina proposed the idea of Muslim countries adopting a common currency similar to the euro utilized by the European Union in order to streamline trade and commerce within this block. During a meeting with a delegation of D-8 trade ministers headed by Turkish Deputy Minister of Trade Mustafa Tizcu at her official residence Ganabhaban, she articulated the potential benefits of such a move, emphasizing its potential to bolster economic ties among member nations. She said, “It would be very good if we can introduce a common currency following the European Union to facilitate trade and commerce among us”. Nazrul Islam, the PM’s speechwriter, briefed reporters following the meeting, shedding light on the discussions.
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Highlighting the formation of the D-8 with the objective of fostering trade, commerce, and friendship among its eight member Muslim-majority countries—Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey—Hasina underscored her commitment to elevating the socioeconomic status of their populations through enhanced economic cooperation. She stated, “My aim is to improve the fate and socioeconomic development of the common people. It is possible only when we will be able to enhance trade and commerce among us”. She also stressed the importance of self-reliance, advocating for increased intra-D-8 trade as a means to reduce dependence on external entities, thereby advancing collective prosperity.
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Addressing the Rohingya crisis, Hasina expressed deep concern over the plight of the displaced community, lamenting the potential loss of generations and their susceptibility to involvement in criminal activities. She reiterated the urgency of ensuring their dignified repatriation to Myanmar, acknowledging the challenges posed by internal conflicts within the country. Emphasizing solidarity within the D-8, she urged member states to collaborate closely, providing both trade and technical assistance to fortify their collective future.
The focal point of the meeting was the implementation of a Preferential Trade Agreement (PTA) among D-8 members and expanding its scope of influence. The adoption of the Dhaka Declaration underscored the commitment of the Council of Ministers to bolster bilateral and multilateral trade ties within the bloc. The delegation extended appreciation to Prime Minister Hasina, recognizing her pivotal role as one of the architects of the D-8, and pledged to increase intra-D-8 trade volume to $500 billion by 2030, a substantial leap from the current $146 billion.
Furthermore, the delegation commended Hasina’s unwavering support for Palestine amid Israeli attacks on Gaza. The officials present during the meeting were State Minister for Commerce Ahasanul Islam Titu, Ambassador-at-large M Ziauddin, Principal Secretary to the Prime Minister M Tofazzel Hossain Miah, and Commerce Secretary Tapan Kanti Ghosh, who underscored the significance of the discussions held and the commitments made towards advancing economic cooperation and solidarity among D-8 member states.
