WANA (Dec 18) – The 11th Summit of the Heads of State of the D-8 Organization for Economic Cooperation, comprised of eight developing Islamic nations, is set to take place this weekend in Cairo, Egypt, to address the economic and political challenges facing the Islamic world.

 

According to a statement released on Tuesday by the Iranian Foreign Ministry, Iranian President Masoud Pezeshkian and Foreign Minister Seyed Abbas Araqchi will travel to Cairo to attend this summit.

 

Formation and Background:

The D-8 group was established in 1997, with member countries including Iran, Turkey, Pakistan, Bangladesh, Indonesia, Malaysia, Egypt, and Nigeria. Its secretariat is located in Istanbul, Turkey.

 

The inaugural D-8 Summit was held in Istanbul, Turkey, with the participation of three presidents, including Akbar Hashemi Rafsanjani, four prime ministers, and one foreign minister. The D-8 is considered a subsidiary of the Organization of Islamic Cooperation (OIC).

 

So far, 10 summits have been held in the following order: Turkey, Bangladesh, Egypt, Iran, Indonesia, Malaysia, Nigeria, Pakistan, Turkey, and Bangladesh.

 

These eight countries collectively have a population of approximately 1.2 billion people, constituting 60% of the world’s Muslim population and nearly 13% of the global population. Together, they cover an area of 7.6 million square kilometers, around 5% of the Earth’s total surface area.

 

In 2006, trade among D-8 member states amounted to $35 billion, which increased to $68 billion by 2010.

 

Objectives of the D-8:

The group’s key areas of cooperation include finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment, and health.

 

The final statement of the first summit in 1997 declared the organization’s main goals as promoting socio-economic development based on principles of “peace over conflict,” “dialogue over confrontation,” “cooperation over exploitation,” “justice over double standards,” “equality over discrimination,” and “democracy over oppression.”

 

In the 2006 Jakarta Summit, three additional principles were adopted:

 

1. Commitment to addressing economic inequality within member states.

2. Strengthening cooperation in energy, particularly the development of alternative and renewable resources.

3. Highlighting the D-8’s role in promoting the economic development of its members and ensuring their integration into global trade.

 

The D-8 aims to enhance the global economic standing of its members, uncover new opportunities for trade, increase participation in international decision-making processes, and improve living standards within member countries.

 

Organizational Structure:

The D-8’s summit, held biennially, is its highest decision-making body, comprising the leaders of each member state.

 

The Council of Ministers—primarily composed of foreign ministers—serves as the main forum for decision-making and policy review.

 

An Executive Commission, made up of commissioners appointed by each government, is responsible for implementing directives within their respective countries. Additionally, an Executive Director, chosen by the members, oversees coordination and operational management.

 

The Relevance and Impact of the D-8:

Despite globalization and trade liberalization shaping modern global commerce, regional trade blocs and economic alliances like the D-8 remain relevant. They serve to:

 

Promote trade and mutual benefits.

 

Enhance economic and political bargaining power.

 

Facilitate shared growth and development.

 

Prepare member countries to navigate challenges posed by the global trade regime, particularly for developing nations.

Organizations such as the D-8 help members integrate into the global economy, maximizing access to international markets while strengthening regional partnerships.

 

Toward an Islamic Common Market:

Creating a unified Islamic market remains a priority for advancing intra-Islamic cooperation. The D-8 provides a critical foundation for realizing this vision, drawing on synergies with other organizations such as ECO, the Gulf Cooperation Council, and the OIC.

 

By fostering closer economic ties, the D-8 contributes not only to the groundwork for an Islamic common market but also to strengthening economic collaboration among its member states.