Develop countries urged to consider joint investments
Updated
Malaysia will ask a summit of eight Muslim-majority nations to consider joint investments in projects such as a fertiliser plant to help secure food supplies.
Leaders from the group of Developing Eight (D-8) countries open the summit in Kuala Lumpur on Tuesday to try to find ways to battle soaring food and energy prices.
The group - comprising Iran, Indonesia, Egypt, Malaysia, Turkey, Pakistan, Nigeria and Bangladesh - represent about one billion people, or 14 per cent of the world's population.
Fast-industrialising Malaysia, which is seeking to increase the grouping's economic muscle, says intra-trade and cross-border investments should be high on its agenda.
Prime Minister Abdullah Ahmad Badawi says the group is going to identify two or three D-8 joint investment projects that will be to cater for its immediate needs.
Iran's President Mahmoud Ahmadinejad and Indonesian President Susilo Bambang Yudhoyono are attending the summit.
