DISCUSS MALAYSIA POSITION

TOWORDS THE DEVELOPING EIGHT

(D8) AND IMF.
 Introduction
Malaysia's position in this collaboration in D8 and IMF is

very important in building strong external relationships.

This relationship can be strengthened when we are

involved with activities such as seminars, forums and

meetings to enable member countries to hear the opinion
expressed by Malaysia.
 Developing Eight (D8)
D-8 or Eight Developing Countries is a group of
developing countries that make up an economic
development alliance.
D-8 is a cooperation project among the eight
developing countries of Turkey, Iran, Pakistan,
Bangladesh, Egypt, Indonesia, Nigeria and Malaysia.
 D8 established is to get cooperation from the
Islamic countries to take initiatives D8 member to
focus on development programs with the right
strategies.
 Agreement Of Major Trading
D-8 has three bodies specifically Summit, Council and Commission.

>Summit, which meets every two years, is the highest power, and
consists of the leaders of each country.

>The Council is the primary body responsible for making decisions and a
forum to consider issues related to the D8, and consisting of foreign
ministers of each country.

>The Commission has no executive powers, and composed of

Commissioners appointed by each member state. Commissioner
responsible for promoting compliance with the decisions D-8 in their
respective countries.

>Next, there is an executive director appointed to facilitate communication

and act as a supervisor at every summit or other gathering.
 Purposes & Objectives D-8
The main objective of D8 is declared to be socio-economic
development in accordance with following principles:

 To solve the problem of economic disparities within

countries.
 To enhance cooperation in the field of energy to develop
alternative and renewable energy resources.
 To develop economy of its member countries and
ensure that it promotes global trade.
 Development and Progress D8
D-8 has been working to create investment partnership
that seeks to enhance economic relations and trade
interdependence between Member States, and drive
economic organizations.
D-8 there is progress, especially signing of three
agreements
1. Preferences Trade Agreement (PTA)
- This agreement is intended to give priority to tariff

concessions on selected goods among member

countries.
2. Customs Agreement
- Customs agreement will facilitate movement of
goods .
3. Visa Agreement
- Visa agreement allows a smooth journey for the
business community in member countries
Malaysia is the largest foreign investor in Pakistan in the first half
of 2008 valued at U.S. $ 656 million (RM2.3 billion).
Involvement Malaysia in the D-8 organization can achieve
progress in the agricultural sector in which Egypt, Iran and Turkey
have agreed to establish a joint venture fertilizer complex in
Egypt.
 The Malaysian Position Toward D8
•One of it is when Deputy Prime Minister of Malaysia, Tan Sri Muhyiddin Yassin delivered
a speech at the summit of the D8-7 at the State Banquet Hall with the theme "Enhancing
Investment Cooperation Among Member States D8.

•Malaysia also proposed programs and activities D8 reviewed and the strategies to be
aligned with a list of five priority areas of cooperation and the Proposed Plan.

• Priority areas are trade, agriculture and food security, industrial cooperation and the
Small and Medium Enterprises (SMEs), transport and minerals. The proposed plan has
been set D8 trade among member countries increased at least between 15 and 20 per
cent of global trade by 2018. This will provide a list of programs, activities, evaluation of
prospects and a clear potential for determining the interest of member states to D8 is
implementing programs and activities that can be achieved.

•Suggestions are also made to the secretariat to develop the right Web page D8 Business
Forum on its website to encourage the private sector and SMEs that are unable to attend
D8 to use the proposed site. Urgent need for member countries to address the inability to
attract private sector needs to be done.
Malaysia feels that agriculture is an important component of all of the D8 and the economy
all at once, the group should increase cooperation in the sector. D8 was concluded and
signed three agreements, namely measures to simplify visa procedures of the Business
D8; Preferential Trade Agreement among Member States D8.

Malaysian had be hosted the Meeting of Ministers of the D-8 on Food Security, Kuala
Lumpur,25 -27 February 2009. The cooperation between countries D-8 on the Food
Security Malaysia will host the Ministerial Meeting on the D-8 Food Security will be held
from 25 to 27 February 2009 at Kuala Lumpur.

As Chairman of the D-8 for 2008-2010, the Sixth Summit of D-8 in Kuala Lumpur on 4 to 8
July 2008 the previous Prime Minister, Dato 'Seri Abdullah Ahmad Badawi has proposed
the meeting on D-8 cooperation programs related to food security (food security) due to
food crisis in early 2008 and the sharp rise in food prices.

Ministerial Meeting of D-8 on Food Security has set the implementation of three strategic
initiatives for cooperation among the countries D-8 which includes the production and
supply of high quality steel; feed and seed bank formation. All three of these initiatives
identified as critical agricultural inputs to ensure the increased quality of agricultural
production of for countries D-8.
This ministry has also invited private companies with the potential to
engage in projects related to the production of fertilizers, seeds and animal
feed bank. Significant private sector participation to enhance business
networking and increased agricultural trade among D-8 countries.

Meeting of Ministers of the D-8 will be attended by ministers of D-8 is

responsible for agriculture, fishery, livestock and food security and will be
chaired by the Minister of Agriculture and Agro-based Industry. The results
of business Leaders at the meeting to be presented to the level of Ministers
of D-8. Meeting of Ministers of D-8 on Food Security is also expected to
produce a statement with the Kuala Lumpur Statement - Initiatives to
Address Food Security by D-8 Countries on cooperation countries D-8 for
the implementation of three projects and is also the possibility the proposed
joint venture between the private sector, countries D-8 in the
implementation of large-scale agricultural project to another.
>>Kuala Lumpur Initiative consistent goals that Pakistan
hopes to be a close friend of Malaysia to develop halal food
industry in agriculture, dairy and livestock development, said
Foreign Minister, Makhdoom Shah Mahmood Qureshi.

>>Islamabad also believes there is enormous potential for

both countries to work together in areas of education, health
and human development.

>>Malaysia had play important role in helping the D8

countries in developing of the other member of the
cooperation. It will help Malaysia and other member to
enhance the development in economic, food and the trade of
the countries. Hope Malaysia will be one of the important
members of the D8.
International Monetary Funds (IMF)
IMF headquarters is in Washington D.C , U.S.A
Five largest shareholders are United States, Japan,
Germany, France, United Kingdom.
China, Russia, and Saudi Arabia have their own seats on
the Board.
16 other Executive known as “Constituencies”.
Partnership voluntarily by 187 countries
 The Purpose of IMF
IMF promote international monetary cooperation
Expansion and balanced growth of international trade.
 IMF promote exchange rate stability .
Establish multilateral system of payments and eliminate
foreign exchange restrictions.
 The Activities of IMF
The Activities of IMF
Provide the policy and financial advice
Helps the members in research, statistic, forecast, and
analysis based on tracking of global, regional and
individual economic and markets.
Giving loan
provides the technical assistance and training
 The Economic Crisis 1997
Malaysia has been experiencing an economic crisis in
1997 has caused the economy had recorded a deficit and
negative growth. Continuous fall of the currency has
resulted in all sectors of the economy affected to slow
economic growth.
Malaysia is one - the only Southeast Asian country that
does not receive financial assistance from the IMF.
 Since July 1997 until early 1999, Malaysia is still able to
face financial problems without seeking economic
assistance from the IMF.
 The Malaysia and IMF
IMF holds bilateral discussions with Malaysia, usually every
year. A staff team visits the country, collects economic and
financial information, and discusses officially about the country's
economic developments and policies. As a conclusion of the
discussion, the Managing Director, who acts as the Chairman of
the Board, summarizes the views of Executive Directors, and
this summary is transmitted to the country's authorities.

On July 30, 2010, the Executive Board of the International

Monetary Fund (IMF) concluded consultation with Malaysia. The
discussions focused on the policy requirement to support the
recovery and the priorities of structural reforms over the medium
term.   They also discussed about Fiscal policy, monetary policy,
financial sector policies, Structural reforms and Exchange rate.   
In October 2009, Malaysia joined the 2009 Annual
Meeting of the World Bank and the IMF at Istanbul,
Turkey. The Governor of The Bank and the Funds for
Malaysia, Datuk Seri . Ahmad Husni Mohamad
Hanadzlah had made a statement for the gathering. In
his statement he had supported the reform in the global
financial architecture. He also shared Malaysia’s
experience in facing economic crisis in 1997.
 Conclusion
Malaysia is actively involved in the D-8. Same as IMF,
although Malaysia did not seek assistance from the IMF
during the last economic downturn, but there are no signs
indicating Malaysia does not work with the IMF.
Cooperation of both parties, the IMF and the D-8, among
others, is a technique for strengthening the economy.
The importance of such cooperation is to ensure that
Malaysia is not alone in dealing with problems in the
economy and highlights the important sectors in Malaysia
that will help generate more rapid economic growth.