Economy, not politics. . should be the main component in cementing relations and yielding benefits to the peoples of D-8 countries, business leatl-crs in the city said yesterday, reports UNB.

Welcoming the emphasis laid on the private sector in the Dhaka Declaration of just concluded D-8 summit, the business leaders lauded commitment of the summiteers to seek reforms in international financial system for functioning of economic globalisation.

Business leaders in Bangladesh see a good prospect of promoting investment, transferring r technology and expanding market in the eight-member inter-continental economic bloc.

"1 see very good prospects of economic cooperation." said Abdul Awal Mintoo. president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCC1).

He identified two areas where the member countries can share benefits: transfer of medium technology and investment among the member slates.

Malaysia and Turkey are capable enough of making in-vestments in and transferring medium technologies to other member countries in the grouping, especially Bangladesh and

Mintoo appreciated the clause 15 and 16 of the Dhaka Declaration, that floated ideas of holding the first D-8 Business Forum and forming a Federation of D-8 Chambers of Commerce and Industry.

”1 hope our Prime Minister, who look over as the new Chairperson of D-8. will initiate positive steps towards im-plementing the decisions." said the apex trade body chief.

He said political relationship will yield nothing because of the geographical locations of the member countries. So. economy should be the main issue of cooperation and it must be the private sector to take the lead, he added.

Immediate past president of FBCCI Yusuf Abdullah Haroon said D-8 has opened up a new horizon of expanding trade within and outside the eightnation bloc.

He praised the D-8 governments' pledge to play as facilitators to give impetus to the private sector-led economy. "Now it's the private sector's responsibility to carry forward the de-, cision," he said.

Haroon, who is the vice-president of SAARC Chamber said every economic or regional bloc, like SAARC. BIMSTEC and D-8. explores new opportunities for expanding trade and investment..

Immediate past president of Metropolitan Chamber of Commerce and Industry (MCCI). a platform of leading companies and multinationals. Laila Kabir said D-8 would be helpful for improving the country's economy. "It's a very good idea...It may take time, but its long-term prospects are very bright," she said.