D-8 summit ends with more cooperation commitments

TEHRAN – Industry ministers of Developing-8 member states agreed Wednesday to establish various task forces to promote cooperation and joint venture projects.

During the 4th Developing-8 Industry Ministers summit, held in Iran, an agreement for establishment the “International D-8 University” was signed.

Secretary General Seyed Ali-Mohammad Mousavi said the D-8 constitutes almost 60 percent of world Muslims and 13 percent of the global population.

“In 2013, the volume of bilateral trade was more than 150 billion USD,” Mousavi said. “With the help of projected agreements, we intend to boost it to 500 billion USD by 2018.”

According to the summit’s final declaration, task forces on issues, including manufacturing industry, standards, small and medium sized enterprises and information technologies will be established to enhance cooperation and knowledge sharing.

The Developing-8 is an organization that aims to foster cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey and to improve member states’ visibility and status in the global economy.

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