D-8 Organization for Economic Cooperation
The D-8 Organization for Economic Cooperation, also known as Developing-8, is an organisation for development co-operation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.[3] Azerbaijan was admitted to the organization as the 9th member on 19 December 2024.[4] The combined population of the nine countries is more than 1.28 billion or 63% of all Muslims, or close to 16% of the world's population and covering an area of 7.62 million square kilometres, 5% of world land area.[5] In 2016, trade between the D-8 member states stood at approximately $65 billion, showing substantial growth since its inception. By 2020, this figure increased to around $133 billion, reflecting the enhanced economic cooperation and integration among member countries. In 2024, the total nominal GDP of the eight nations reached approximately $5.1 trillion, underscoring their collective economic significance. Transactions among these countries accounted for an increasing share of global trade as they continue to pursue ambitious goals, such as reaching a trade value of $500 billion by 2030 under the D-8 Decennial Road map. This plan also focuses on expanding sectoral cooperation in areas like agriculture, energy, and transportation, fostering sustainable development across the member states.[citation needed] Purposes and objectivesThe main areas of co-operation include finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment, and health.[5] In the first Summit Declaration (Istanbul, 1997), the main objective of D-8 is stated to be socio-economic development in accordance with the following principles:
The fifth D-8 Summit Declaration (Bali, 2006) produced the following, as illustration of the application of the group's objectives:
StructureThe Summit, which is convened every two years, has the highest level of authority, and is composed of the leaders of each member state.[7] The Council is the principal decision-making body and forum for consideration of issues relating to the and is composed of the foreign affairs ministers of each member state. The Commission has executive authority, and is composed of Commissioners appointed by each member state's government. Commissioners are responsible for promoting compliance with directives in their respective nation. Finally, an executive director is appointed by D-8 members to facilitate communication and to act in a supervisory capacity during each summit or lower-level assembly. D-8 Summits
Member countries
Secretaries-General
Affiliated Bodies
See alsoReferences
External links Wikimedia Commons has media related to Organization for Economic Cooperation. |
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