The Minister of Transport, Sen. Idris Umar has urged G-8 member countries to strengthen cooperation on shipping activities to boost trade.
Umar made the call at the 3rd D-8 Expert Working Group meeting on shipping in Abuja.
The theme of the two-day meeting is `Harnessing Shipping Potentials for Economic Empowerment of the D-8 Member Countries'.
“I implore you to consider the need to establish concrete foundations for meaningful cooperation amongst member countries in shipping.
The Minister of Transport, Sen. Idris Umar has urged G-8 member countries to strengthen cooperation on shipping activities to boost trade.
Umar made the call at the 3rd D-8 Expert Working Group meeting on shipping in Abuja.
The theme of the two-day meeting is `Harnessing Shipping Potentials for Economic Empowerment of the D-8 Member Countries'.
“I implore you to consider the need to establish concrete foundations for meaningful cooperation amongst member countries in shipping.
“Through the establishment of Memorandum of Understanding, bilateral agreements in areas like sea time training, ship building and repairs and in the strengthening of trade and other shipping activities among member countries.’’
He said that strengthening cooperation among member countries would fast track investments in the maritime sector and increase the share of trade between 10 per cent and 25 per cent by 2014.
Umar urged member countries to explore the advantage of the D8 multilateral talks held in 2010 and 2011 which aims at tapping areas of benefit from members with comparative advantage.
“There is the need for member countries to ensure effective monitoring and supervision of the resolutions reached,’’ he added.
Earlier, the Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Patrick Akpobolokemi, said the development of the sector was crucial in the advancement of the economy of D-8 member countries.
Akpobolokemi urged participants to use the opportunity offered by the meeting to identify new areas of possible collaboration and mutual interest.
“Through networking and collaborations, this event hopefully will present an enabling platform for the shipping industry of Nigeria and other D-8 member countries to develop and become another major source of their economic empowerment,’’ he added.
The objective of the D-8 organisation, among others, is to facilitate the improvement of the economy of member countries.
This includes the creation of new opportunities for member states in world trade, improvement of the standard of living and the position of member states in the global economy.
The D-8 member countries are Nigeria, Malaysia, Pakistan, Turkey, Bangladesh, Egypt, Indonesia and Iran.
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