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July 08, 2010
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Prime Minister, Dr. Ahmed Nazif, participated in the 7th Summit of D-8 held in Abuja the Nigerian Capital on 8 July, on behalf of President Hosni Mubarak, where he delivered a speech. D-8 group formed of a number of developing countries namely Egypt, Turkey, Iran, Pakistan, Bangladesh, Malaysia, Indonesia, and Nigeria representing 60% of the Islamic World and 13% of the whole World. D-8 was established in June 1997 and aims at improving situation of the developing countries in the global economy, increasing the developing countries' participation in the international decision making process, and increasing trade movement of the bilateral trade among them.
Upon the conference, Dr. Nazif met the Nigerian President Goodluck Jonathan and delivered him a message from President Mubarak expressing his condolences over the death of the former Nigerian President. The meeting tackled historical relations between both counties, as well as means to increase the trade volume, and the prime minister invited the Nigerian President to visit Egypt.
In a press conference, the prime minister assured the importance of D-8 summit especially to the developing countries which reached one billion.
The prime minister referred to the available investment opportunities which aim at improving the bilateral and investment trade among these countries, and affecting their economies. D-8 approved number of frames already carried in some sectors for achieving a comprehensive development. The prime minister stated that Egypt has hosted two months ago a ministerial meeting of the D-8 agriculture ministers.
In this concern, Dr. Nazif confirmed that the held meetings resulted in declaration of Abuja Summit, assuring the importance of such gathering and the necessity of enhancing movement related to free trade agreements among the member countries.
Replying a query on the importance of food security, the prime minister said that this issue was discussed in the summit and the member countries have similar view in such issue beside the energy security.
Concerning the private sector role in development and employment, Dr. Nazif reassured the importance of such issue because encouraging investment comes through the private sector. The prime minister referred to President Mubarak speech in this concern regarding the private-public partnership which considers as a good opportunity for all investors to increase their investments in Egypt.
Answering a suggestion provided on the establishment of a food security fund, the prime minister stated that the project is currently studied to be financed by the member countries and it will be widely discussed. He added that a meeting will be held among central banks' governors of the D-8.
Concerning a question raised on Egypt's vision offered by President Mubarak in the speech, the prime minister said that we focus on main issues where Egypt cooperates with other countries, adding that President Mubarak has determined number of new sectors including modern technology and agriculture for more cooperation, and other new fields were offered in the summit, in addition to encouraging the private sector to increase its role in development and investment.
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