D8 to set up a consortium on fertiliser

TEHRAN: The group of eight developing countries (D8) plans to set up a fertiliser commercial consortium based on a proposal made by Iran, Iranian national news agency IRNA reported, quoting the representative of Agriculture Jihad Ministry to D8 working group as saying.

Hossein Zamani added in a news meeting that first seminar of private sector fertiliser trade will be held on Kish Island from March 9-11. Iran, Turkey, Nigeria, Malaysia and Indonesia have so far announced their presence in the event.

In view of significance of fertiliser in the agriculture sector and capability of D8 member states in fertiliser trade, establishment of the consortium was put on the agenda, he noted.

D8 is a group of developing countries with large Muslim populations that have formed an economic development alliance.