Malaysia is among the developing Islamic countries which hopes to build a shipping network to boost trade between members of the so-called Developing-8 group.

The matter is expected to be pursued as a follow-up to an earlier meeting of the D-8 bloc in Kuala Lumpur hosted by the Malaysia International Shipping Corporation Bhd, acting on behalf of Malaysia.

According to industry sources the initiative is likely to start with two conferences on shipping, with cargo-sharing and fixed freight rates heading the agenda.

Bangladesh is to take the lead role in the project on behalf of the so-called D-8 group.

The D-8, established in Istanbul in 1997, includes Bangladesh, Egypt, Iran, Indonesia, Malaysia, Nigeria, Pakistan and Turkey.

These countries are the eight most populous nations in the 56-member Organisation of the Islamic Conference, constituting half of its total population.

The group’s 33-point founding statement commits participants to “direct the competent authorities in our respective countries to take all possible measures to strengthen exchange of information, trade support and shipping, for the promotion of trade within the D-8”.

Work on building its shipping network will begin with two major conferences to be held in Dhaka.

One conference will include representatives shipping lines, port authorities, users of shipping facilities and government authorities.

The second will be attended by non-governmental organisations involved with shipping.