D-8 Organization for Economic Cooperation

1

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. The combined population of the eight countries is about 1.2 billion or 60% of all Muslims, or close to 13% of the world's population and covering an area of 7.6 million square kilometers, 5% of world land area. In 2006, trade between the D-8 member states stood at $35 billion, and it was around $68 billion in 2010. Transactions between the eight developing countries accounted for 3.3 percent of world trade in 2010. The total nominal GDP of the eight nations was around 4.92 trillion as of 2023.

Purposes and objectives

The main areas of co-operation include finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment, and health. 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:

Structure

The Summit, which is convened every two years, has the highest level of authority, and is composed of the leaders of each member state. 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 of D-8

Affiliated Bodies

This article is derived from Wikipedia and licensed under CC BY-SA 4.0. View the original article.

Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc.
Bliptext is not affiliated with or endorsed by Wikipedia or the Wikimedia Foundation.

View original