Bangladesh will remain the chair of D-8 for another year as Egypt will be busy with the Conference of the Parties (COP27).
The member states accepted the proposal when Egypt came up with it at the D-8 ministerial meeting on Wednesday, said Foreign Minister AK Abdul Momen.
The foreign minister briefed the media on the outcome of the meeting at a hotel in Dhaka.
The preferential trade agreement (PTA) is likely to be operational in October, which will help boost intra-trade among D-8 members. The current intra-trade volume is now $129 billion.
D-8, also known as Developing-8, is an organization for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. It was officially launched in Istanbul in1997.
