"In early establishment of D8 in 1997 trade value between members reached US$25 Billion. Currently the trade value is increasing to US$150 Billion. By 2018 we want this number to be increased to US$300 Billion," the organization`s secretary general s
Jakarta (ANTARA News) - Members of Developing Eight (D8) consisting of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey set target to have US$300 billion intra trade value by 2018, organization`s Secretary General Sayed Ali Mohammed Mousavi said here on Wednesday.

"In early establishment of D8 in 1997 trade value between members reached US$25 Billion. Currently the trade value is increasing to US$150 Billion. By 2018 we want this number to be increased to US$300 Billion," the secretary said.

Apart from cooperation in trade sector, Sayed also emphasized the need for D8 members to cooperate in transportation sector that will support connectivity among members of the organization.

D-8, also known as Developing-8, is an organization for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

The establishment of D-8 was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997.

The objectives of D-8 Organization for Economic Cooperation are to improve member states� position in the global economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at international level, and improve standards of living.

D-8 is a global arrangement rather than a regional one, as the composition of its members reflects. Organization for Economic Cooperation (D-8) is a forum with no adverse impact on bilateral and multi-lateral commitments of the member countries, emanating from their membership to other international or regional organizations.

Dr. Seyed Ali Mohammad Mousavi from Iran is currently the Secretary General of the D-8 Organization with its Secretariat based in Istanbul-Turkey.(*)

Editor: Heru Purwanto
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