Prime Minister Imran Khan on Thursday urged members of the Growing Eight (D8) nations to affix palms and facilitate the younger inhabitants to not solely “optimise our opportunities, but also overcome our common challenges”.
The D-8 Organisation for Financial Cooperation is a gaggle that goals to boost growth cooperation. Apart from Pakistan, different member nations are Bangladesh, Iran, Turkey, Malaysia, Egypt, Indonesia, and Nigeria.
The theme for this yr’s convention was “Partnership for a Transformative World: Harnessing the Power of Youth and Technology.”
Whereas just about addressing the tenth D8 summit in Dhaka, he mentioned harnessing expertise, selling innovation and investing within the schooling, expertise and coaching of the youth was an pressing activity that should be prioritised by all member nations.
“Today, the world boasts the largest number of young people in history. Even before the pandemic struck, around one-fifth of the global youth was unemployed and did not have the education and the skills to equip them for the 21st century,” mentioned PM Imran Khan.
He mentioned the D8 nations “owe it to our youth” to show this round, noting that the youth inhabitants in these nations numbers 550 million.
“Our youth has not only the potential to optimise our opportunities, but also overcome our common challenges,” the premier mentioned.
“They are entrepreneurs, business innovators, technology pioneers, educators, activists, artists, and journalists.
“We should create new alternatives for this predominant element of our inhabitants,” the prime minister added.
Speaking of Pakistan’s efforts in this regard, the prime minister said that through programmes such as Kamyab Jawan, Hunarmand Pakistan, a Youth Entrepreneurship Scheme, and Digital Pakistan, the country aims to facilitate its youth.
‘Partnerships essential in a rapidly transforming world’
The prime minister noted that the rate of change in the world has intensified over time.
“Info and expertise breakthroughs are quick reworking science fiction of yesterday into at present’s actuality,” he said.
Under such circumstances, no single country can address the complexities of a changing world in isolation, PM Imran Khan underscored.
“Partnerships are important. I’m pleased that, in D-8, we now have a platform to work collectively for mutual profit and win-win options,” the prime minister said.
The prime minister said that the D-8 would do well to prioritise the following three areas while dealing with the rapidly transforming world:
Emphasising efficiency and productivity
Firstly, as net producers of primary global commodities, the D-8 must conceive projects that harness technology for supply-side improvements, with special emphasis on efficiency and productivity.
With costs of transportation and communications improving due to innovations, the D-8 members must partner to keep pace with logistics and global supply chains.
Jointly tackling disruptions in labour markets due to technology
Secondly, the D-8 should brainstorm ideas to insulate its members from disruptions in labour markets due to technology and innovations.
As automation substitutes for labour across the world, the labour-intensive economies of D-8 face challenges of unemployment and social disruption.
Push back against ‘vaccine nationalism’
Thirdly, the D-8 should call for COVID vaccine to be treated as a global public good, ensure equity, affordability, enhanced production and timely supply to save lives.
“We should push again towards vaccine nationalism and undue export restrictions. The worldwide vaccine manufacturing corporations should both velocity up manufacturing or share their expertise and experience with growing nations for enough vaccine provide,” said the prime minister.
Five-pronged roadmap to realise D-8’s vision
The prime minister also proposed a five-pronged roadmap to realise the vision of D-8 countries:
Mobilising financing and resources to recover robustly from the economic and health crises induced by the COVID pandemic, is of utmost importance, said the prime minister.
“To deal with the distinctive financial and monetary challenges confronted by growing nations on account of the pandemic, I’ve already steered a 5-point plan. This contains: debt reduction; creation and redistribution of Particular Drawing Rights (SDRs); mobilization of local weather finance; eliminating illicit monetary flows; and return of stolen property to growing nations.
“It was in this context that I called for a “Global Initiative on Debt Relief” last April,” PM Imran Khan mentioned.
He invited the D-8 members to think about these 5 factors and take part advocacy for COVID associated reduction measures.
PM Imran Khan mentioned the D-8 nations should take concrete actions to attain the goal of increasing intra D-8 commerce from at present round US$100 billion to US$ 500 billion by 2030.
“It should include measures like simplification of border procedures, enhancing institutional linkages, and operationalising new initiatives. We welcome ideas like the D-8 Payment Card which would enable transactions in local currencies,” mentioned the premier.
Youth engagement technique
The D-8 ought to develop a “Youth Engagement Strategy” targeted on selling cultural, academic, and scientific and enterprise exchanges. Linkages must be established between academic establishments by way of scholarships, expertise growth, trainings, fellowships, joint analysis, and change programmes for the youth, significantly within the area of science, expertise and innovation.
The prime minister mentioned that technological growth is a gateway to financial prosperity, significantly within the post-pandemic interval when reliance on expertise could be larger than ever earlier than in human historical past.
“To remain competitive, we must promote knowledge-based economies, increase expenditure on research and development, and focus on rapid digitalisation,” mentioned PM Imran Khan.
He reminded the viewers Pakistan lately hosted the inaugural assembly of the D-8 Community of Pioneers for Analysis and Innovation (NPRI).
Making D-8 extra related to residents’ lives
The premier mentioned the member nations ought to make D-8 extra related to the lives of our residents “by promoting food security, enhancing cooperation in health, holding joint sports events and helping each other during natural disasters”.
“To achieve these goals, we need high level of commitment and mobilisation of financial resources by both developed and developing economies,” PM Imran Khan famous.
He mentioned subsequently, partnerships between governments, worldwide monetary establishments, companies and civil society are important to leverage expertise, innovation and expertise to allow each younger individual to have all alternatives to grasp their full potential.
“I am confident that our collective wisdom and commitment will bring a new vigour to D-8,” the prime minister concluded by saying.