TEHRAN- The head of Iran’s Trade Promotion Organization (TPO) emphasized that Iran's trade relations with D-8 member states have grown by over 150 percent in the past five years, reaching $22 billion. However, while this figure indicates significant trade potential among the group's members, it still falls short of the desired level.

Making the remarks at D-8 Ministerial Meeting in Cairo, Mohammad-Ali Dehghan Dehnavi stated that the D-8 organization, with its rich resources, young population, and strategic location, possesses unparalleled potential to become an influential economic hub on the international stage.

He added: "Achieving this requires greater convergence, particularly through expanding intra-group trade within the framework of an effective preferential trade agreement."

Dehghan Dehnavi, who is also Iran’s deputy minister of industry, mining and trade, further stressed: "Iran's trade relations with D-8 members have grown by over 150 percent in the past five years, reaching $22 billion. Although this figure reflects significant trade potential among the group's members, it still falls short of the desired level. Therefore, we urge all member countries to make serious efforts to fully implement and operationalize the preferential trade agreement."

The official noted: "Iran has implemented the D-8 preferential trade agreement since 2016. However, due to reasons such as limited tariff concessions, outdated commodity lists, and cumbersome rules of origin procedures, traders have shown little enthusiasm for utilizing it."

The deputy minister further stated: "We propose expanding the coverage of commodity concessions to include major trade items and facilitating the implementation procedures of the agreement."

He added: "An enhanced preferential trade agreement can serve as a valuable foundation for achieving deeper economic integration."

Dehghan Dehnavi welcomed the formation of an expert working group to review tools for developing the preferential trade agreement and emphasized: "This working group, with the assistance of all members and support from relevant international organizations, should conduct comprehensive technical assessments and provide recommendations that guarantee the interests of all members. We expect tangible results from this review to be presented at the next ministerial meeting."

The head of the Iran’s Trade Promotion Organization clarified: "Beyond tariff liberalization, it is essential to seriously pursue cooperation in other key areas, including customs cooperation and facilitation, logistics, transportation and transit, settlement mechanisms in national currencies, and private sector interaction through cooperation among member countries' chambers of commerce."

He noted: "Despite facing unilateral and unjust sanctions, Iran remains committed to constructive cooperation within the D-8 framework. We hope member countries consider our special circumstances and ensure that external restrictive measures do not hinder regional cooperation and economic integration."

In conclusion, Dehghan Dehnavi expressed gratitude to the government of Egypt and the D-8 Secretariat, hoping that this gathering would be a significant step toward realizing broader economic cooperation within the D-8 family.

D-8 Organization for Economic Cooperation is an organization for economic cooperation among the following countries: Azerbaijan, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. Azerbaijan joined the D-8 Organization for Economic Cooperation in 2025.

The establishment of D-8 Organization for Economic Cooperation was announced officially through the Istanbul Declaration of Summit of Heads of State/Government on June 15, 1997.

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 Organization for Economic Cooperation is a global arrangement rather than a regional one, as the composition of its members reflects. D-8 Organization for Economic Cooperation is a forum with no adverse impact on bilateral and multi-lateral commitments of the member countries, emanating from their membership to other international or regional organizations.

The idea of cooperation among major Muslim developing countries was mooted by Necmettin Erbakan, the then Prime Minister of the Republic of Turkey, during a Seminar on “Cooperation in Development” which was held in Istanbul in October 1996. The group envisioned cooperation 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 Organization for Economic Cooperation and it was only after a series of preparatory meetings that D-8 Organization for Economic Cooperation 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 June 15, 1997.

MA