Ankara seeks to boost trade with D-8 countries
ANKARA
Türkiye will boost its trade with the Developing Eight Organization for Economic Cooperation (D-8) member states through a “next-generation agreement,” Trade Minister Ömer Bolat has told Anadolu Agency.
Regarding the D-8 summit held in Cairo on Dec. 19, Bolat said that Türkiye seeks to “transform the D-8 Preferential Trade Agreement into a next-generation agreement by expanding its product scope and disciplines.”
“The stages of cooperation in various fields, such as trade, small and medium-sized enterprises (SMEs), agriculture and food security, youth projects, tourism, energy, civil aviation, and healthcare will be evaluated and the steps to be taken to further improve cooperation in these areas will be evaluated,” Bolat said.
Bolat stated that the total GDP of the D-8 member states is $4.8 trillion, making up 4.3 percent of the total production worldwide, while the combined population of the member states is 1.2 billion, which translates to a domestic income of around $4,000 per capita.
The minister mentioned that the total exports and imports of the D-8 member states amounted to $1.12 trillion and $1.17 trillion, respectively.
"Intra-D-8 trade among member states hit $75.5 billion in exports and $77.7 billion in imports in 2023, highlighting significant potential. Türkiye's trade with D-8 nations reached $9.1 billion in exports and $13.1 billion in imports last year, marking a 22.6 percent growth in trade volume over the past five years. D-8 products now account for 3.6 percent of Türkiye's total exports and imports," Bolat stated.
