Prime Minister Sheikh Hasina. the new chairperson Of the D-8. has described the second summit as an event that has succeeded in forging a productive alliance for partnership for development and economic cooperation.

She said the private sector will be the main engine of growth and development with the governments of the D-8 countries facilitating the process and called for creating a Business Forum as early as possible to ensure private sector’s involvement in the development process.

"We have been able to chart out pragmatic and practical steps which would benefit the ordinary people of the eight member countries that represent a population of about 800 million." Sheikh Hasina told a crowded post-summit press

conference yesterday evening.

The Summit has agreed that as the Chairperson of D-8 she would take the initiative to inform other international bodies and groupings, particularly the G-8. of the views of the new organisation. Hasina said.

Hasina said the Dhaka Summit had the first opportunity to review the progress of the nascent alliance which had identified 13 non-exhaustive areas of cooperation.

She stated that all the member-countries had already taken major steps in their respective thrust sectors, which has been reflected in the Dhaka Declaration.

Hasina said freer access to international markets, increased foreign direct investments could enhance the efforts of Hie D-8 countries.

Highlighting some of the areas which have made definitive progress, she said Egypt is taking the lead in matters of trade and expected to host the first meeting of experts in April this year.

Turkey has taken the initiative to build an agricultural aircraft and formulate the cooperation agenda for environment and health.

Bangladesh and Egypt will jointly implement a project on rural industrialisation. Iran is organising the industrial and technological data bank, expected to become operational by July this year.

Malaysia is taking the lead in Takafu!’ insurance while Pakistan is in charge of projects in fisheries and in agriculture. Indonesia will be dealing with poverty alleviation and energy sector. Sheikh Fiasina pointed out.

She pointed out that the new S represented 800 million

: or about 13.5 per cent of the‘global population but their share of world trade was roughly four per cent.'

These countries are rich in resources. Their combined oil reserve Is about 12 per cent of the total world reserve, while their gas reserve is about 21 per cent of the world s proven re-

However, she pointed out that the trade among the D-8 countries is only four per cent. This has great potential for increase when we engage in meaningful cooperation through implementation of projects and initiatives of the private sector."

Responding to a question, she said absence of four heads of state and government was due to domestic compulsions and did not affect the Summit.-The conference reflected the views of all member states, she

She said there was no contradiction between the OIC and the D-8 as the latter could be complementary to the 57-mem-ber organisation.

Hasina said the Summit leaders agreed to meet every two years and that the next Summit would be held in Cairo in 2001.