Developing 8 Countries
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Members of D-8
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| Formation | 1996 1997 (Summit) |
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| Headquarters | Istanbul, Turkey |
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Membership
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| Website | www |
The D-8 Organization for Economic Cooperation, also known as Developing-8, is an organisation for development co-operation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. 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 multilateral commitments of the member countries, emanating from their membership to other international or regional organisations.
The combined population of the eight countries is about 60% of all Muslims, or close to 13% of the world's population. In 2006, trade between the D-8 member states stood at $35 billion, and it was around $68 billion in 2010. Transactions between the 8 developing countries account for 3.3 percent of world trade. The figure is projected to reach 10–15 percent in the next few years.
The idea of co-operation among major Muslim developing countries was mooted by Prof. Dr. Necmettin Erbakan, the then Prime Minister of Turkey, during a Seminar on "Cooperation in Development" which was held in Istanbul in October 1996. The group envisioned co-operation among countries stretching from South East Asia to Africa. Representatives from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria and Pakistan attended the Seminar. This conference was the first step towards the establishment of D-8 and it was only after a series of preparatory meetings that D-8 was set up officially and began its activities with the Istanbul Declaration issued at the end of the summit of Heads of State and Government held in Istanbul on 15 June 1997
As stated by the D-8 Facts and Figures Publication: "The objectives of D-8 are to improve developing countries' positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living." The main areas of co-operation include finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment, and health.
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