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Transportation
Business Fortune
30 December, 2024
Pakistan calls on D-8 countries to improve regional corridors and transportation connections in order to increase trade and the economy.
Pakistani Prime Minister Shehbaz Sharif on Thursday called for better transport connectivity and trade corridors between member states from the D-8 developing group of nations to boost regional trade and economic cooperation.
Sharif arrived in Cairo on Wednesday to lead the Pakistan delegation at the Eleventh Summit of D-8 countries, hold bilateral discussions with multiple world leaders on the sidelines of the forum and attend a special meeting on the ongoing conflict in the Middle East, with a focus on Gaza and Lebanon.
The D-8 grouping promotes economic and development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye. Key areas of cooperation are agriculture, trade, transportation, industry, energy and tourism.
The bloc’s latest summit is themed “Investing in Youth and Supporting SMEs: Shaping tomorrow’s Economy.”
Sharif said as he addressed the summit that connectivity is a force multiplier and is rightly hailed as a vehicle for peace and prosperity. They need to explore the possibilities of developing and enhancing transport connectivity among D-8 member states for building efficient intra-trade corridors and reliable supply chains. In this regard, the Pakistan, Iran and Turkiye corridor is an excellent project for very efficient connectivity.
The Islamabad-Tehran-Istanbul Road Transport Corridor is a cross-border trade initiative aimed at improving road transport links and providing more efficient movement options for goods between South Asia, the Middle East and Europe.