Published: 12:27 AM, 04 November 2026
Dhaka urges D-8 to fast-track FTA, PTA frameworks for trade ties
Bangladesh has called for the early finalisation and implementation of Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA) frameworks among member states of the Developing Eight (D-8), seeking to expand intra-bloc trade, attract investment and unlock the organisation's untapped economic potential.
Dhaka has also stressed the need to widen mutual tariff concessions, dismantle existing trade barriers, simplify trade procedures and undertake institutional reforms to transform the D-8 into a more effective platform for economic cooperation and tangible development outcomes.
Commerce Minister Khandakar Abdul Muktadir made the call during a bilateral meeting with D-8 Secretary-General Sohail Mahmood on the sidelines of the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC) in Istanbul, Türkiye, on Monday.
According to a press release issued here today, the meeting focused on identifying ways to address existing obstacles to trade among D-8 member countries and strengthen economic cooperation through greater market access, trade facilitation and coordinated policy initiatives.
During the discussions, Muktadir underscored the importance of expanding trade and investment among member states, particularly amid an increasingly uncertain global economic environment marked by shifting trade dynamics, supply-chain disruptions and intensifying competition for international markets.
He observed that stronger economic collaboration among D-8 countries could create significant opportunities for expanding commercial exchanges, diversifying export markets and strengthening investment partnerships.
In this context, the Commerce Minister urged the D-8 Secretariat to take a more proactive role in expediting the finalisation and implementation of the proposed FTA and PTA frameworks, emphasising that their timely execution would be crucial to translating the organisation's economic ambitions into measurable benefits.
He also called for stronger coordination among member countries to accelerate negotiations, address outstanding issues and establish a more predictable and favourable trading environment within the bloc.
The proposed trade arrangements are expected to provide a framework for expanding preferential market access, reducing tariff-related costs and facilitating cross-border commerce. If effectively negotiated and implemented, they could also encourage businesses to explore new markets, strengthen regional supply chains and promote greater private-sector engagement across member economies.
Muktadir further emphasised that reducing tariff and non-tariff barriers should remain a key priority for the organisation. He highlighted the importance of simplifying trade-related procedures and expanding mutual tariff facilities to make commercial transactions easier, faster and more cost-effective for businesses.
Beyond trade liberalisation, the minister stressed the need for institutional reforms and result-oriented initiatives to enhance the D-8's operational effectiveness.
He called for a more dynamic and responsive institutional framework capable of addressing the evolving economic priorities of member states and delivering practical outcomes from their collective commitments.
According to the Commerce Minister, strengthening the organisation's institutional capacity would be essential to making the D-8 more meaningful, effective and responsive to the economic interests of its members.
Responding to Bangladesh's proposals, D-8 Secretary-General Sohail Mahmood assured that the country's views and interests concerning stronger economic cooperation and increased intra-bloc trade would receive positive consideration.
He acknowledged Bangladesh's interest in advancing the organisation's economic agenda and expressed a positive stance towards initiatives aimed at strengthening trade and investment relations among member countries.
Senior officials from Bangladesh and the D-8 Secretariat were present at the meeting.
The Commerce Minister is currently visiting Türkiye to participate in the 42nd COMCEC Ministerial Session, which provides a platform for member countries of the Organisation of Islamic Cooperation to discuss economic and commercial cooperation.
Bangladesh's latest initiative reflects its broader efforts to diversify export destinations, secure preferential market access and strengthen economic partnerships at a time when the country is preparing for major changes in its international trade arrangements following its scheduled graduation from the least developed country (LDC) category.
For Bangladesh, stronger trade engagement with D-8 economies could offer opportunities to diversify exports, attract investment, develop new commercial partnerships and reduce dependence on a limited number of traditional markets.
However, the extent of these benefits will depend on how quickly member states can translate proposed trade frameworks into operational agreements and address the regulatory, procedural and institutional challenges that continue to constrain intra-bloc commerce.
