D-8 economic bloc marks 25th anniversary at Istanbul event

By Handan Kazanci

ISTANBUL (AA) – The D-8 Organization for Economic Cooperation, also known as Developing-8, marked on Wednesday the 25th anniversary of its foundation at an event in Istanbul.

"This day marks the Silver Jubilee Anniversary of the establishment of the D-8 organization," said Isiaka Abdulqadir Imam, current head of the D-8 Organization for Economic Cooperation, during the event co-organized by the D-8 and Ankara-based Erbakan Foundation opened in the name of late Turkish Prime Minister Necmettin Erbakan.

"It is right here in this historic city of Istanbul and at this same place we are today that the Heads of State and governments of eight Muslim majority countries of Bangladesh, Egypt, Iran, Indonesia, Nigeria, Malaysia, Pakistan, and Türkiye, gathered under the direction of a visionary leader and a renowned scholar, the late (Turkish) Prime Minister, Dr. Necmettin Erbakan, to establish this noble organization," Imam said.

The meeting was gathered under the motto of "The Guarantee of Peace."

"This has been an annual event for the foundation to celebrate the visionary leadership of Dr. Erbakan, who conceived the idea of the D-8 organization," Imam added.

Imam also paid his tribute to the late Erbakan, former Prime Minister of Turkiye and founding father of the D-8 Organization. "He was not only a great statesman but also a widely-lauded personality in Islamic World."

"He aimed to develop and prosper Turkiye and Islamic world, as he attached great importance to cooperation among Islamic countries," he explained. "He stood against all acts of injustice and wrongdoings that caused sufferings to peoples around the world."

Imam also explained the D-8's "remarkable achievements in the last 25 years of its establishment."

"The key priority areas of agriculture, trade, energy, transportation, industry, and tourism have remained on the top of the agenda of our organization," he said.

"We have not deviated from the vision Dr. Erbakan had for D-8 when he conceived the idea of a group of nations coming together to form an alliance for the purpose of socio-economic cooperation that would bring solid improvements into the lives of citizens of its member states," he added.

"Under the review of our score card in the 25 years of D-8 existence, the total GDP of D-8 countries has more than tripled from $ 1.2 trillion in 1997 to almost $ 4 trillion in 2019," he said.

"Intra D-8 trade also rose from $ 14 billion in 1997 to $ 110 billion in 2019 in nominal terms," he added. "The eight countries make up almost 60 % of the total GDP of the Muslim world. The macro–economic indicators summarize the economic potential of the D-8 and its future."

Noting the "substantial increase in trade relations among our member states," Imam pointed out other partnerships that D-8 has had in the form of a "Memorandum of Understanding (MoU) with several institutions and organizations that shares our objectives and aspirations."

"Focusing on the priority areas of our cooperation, currently the Secretariat is working with existing and new potential partners in order to bring more dynamism and meet expectations in areas of capacity building, technical assistance, and knowledge sharing," he said.