D-8 Ministerial Meeting in Tehran

Dhaka for joint 'green energy' fund

6 October 2011, 18:00 PM

Unb, Dhaka

Industries Minister Dilip Barua has proposed to set up a joint investment fund for improving green energy initiative within the member countries of the D-8. “I firmly believe it'll help us a lot in enhancing intra D-8 trade and investment to successfully negotiate with the adverse affects and challenges of global climate change,” he told the concluding session of the three-day second D-8 Ministerial meeting on Industry in Istanbul yesterday. Turkey's Minister for Science, Industry and Technology Nihat Ergun and ministers, ambassadors, delegates and senior officials of member countries were present, according to a message received here. Barua also urged his fellow ministers to motivate their entrepreneurs to invest in the emerging industrial sector of Bangladesh, taking advantage of the facilities provided by the Bangladesh government. He said: “Your entrepreneurs can invest directly or in joint venture in our potential sectors like Shipbuilding, IT Industry, Pharmaceutical, Jute & Jute products, Agro-based industries, Electrics and Electronics, Automobiles, Fertilizer, Furniture and SMEs.” During the sixth D-8 Summit, Bangladesh proposed for creating a D-8 Food Fund for ensuring food security among the member countries, the industries minister said, adding that he believes such a fund is the demand of the time and should be fully operational. He said they must consider that the D-8 is a strong forum with large Muslim population of the world based on mutual trust, respect, cooperation and development. “I firmly believe that the trade volume would be further increased if we can harvest the growth of our potential sectors like halal food industry, bio-technology, renewable energy, eco-tourism, shipbuilding, pharmaceutical, jute product, sub-contracting, ceramic, automobile, petro-chemical, seafood, fertilizer, furniture, electronics, artificial jewelry and agro-based products.” On current global meltdown, Barua said the D-8 member countries are not free from the threats of global economic downturns and in order to face the challenges of global meltdown, there is no other alternative but to strengthen the domestic industrial capacity and diversifying of export items. He said the D-8 member countries can cooperate and help each other in terms of technology transfer, capacity building, development of alternative fuels, including renewable sources of energy, sharing experience and technical know-how through training, exchange of bilateral or multilateral experts and delegation for collective industrial development. In the first decade of D-8, the world has experienced one of its most exceptional periods in terms of pressing and legitimate development challenges faced by various nations, he mentioned.