Twenty-eight years ago, precisely on June 15, 1997, eight of the most populous countries and emerging economies from the Global South gathered in Istanbul and declared their intent to forge a new path rooted in cooperation, equity and shared prosperity.
The Developing-8 Organization for Economic Cooperation (D-8), which encompasses Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Türkiye, was born out of necessity: a shared vision of turning demographic weight and strategic geography into an engine of economic prosperity.
Twenty-eight years on, the D-8’s journey is a testament to resilience, adaptability, and a conviction that multilateralism, when anchored on mutual respect and practical cooperation, can indeed deliver tangible dividends.
The road has not been without obstacles, nor has it lacked progress.
We have steadily advanced our shared mission to the extent that trade among the D-8 members has expanded fivefold, and cooperation across sectors, such as areas of agriculture, tourism, civil aviation and small and medium enterprises development, has matured. Now that five members have implemented the D-8 Preferential Trade Agreement (PTA), trade is projected to increase further. The Republic of Azerbaijan's recent accession, as the ninth member of the organization, marks a strategic expansion of our geopolitical footprint into the heart of Eurasia.
Yet, standing at the 28-year mark in a world bedeviled by multiple crises, such as climate change, digital divides, fragile supply chains and geopolitical rifts, it is clear that incrementalism will not suffice. However, the D-8 must evolve from an economic coordination platform into a transformative force, shaping equitable global growth. For the next 30 years, the D-8 must be defined by such ambition. In fact, by 2057, our aim should not be to catch up, but to lead. To do so, we must reimagine our architecture, reframe our priorities and recalibrate our instruments.
As an economic cooperation organization, the D-8 must focus on its core objective, promoting economic collaboration among its members. The organization’s Preferential Trade Agreement (D-8 PTA), which has been in force since 2011, is one of the powerful tools in our arsenal that is fit for this very purpose. With the multilateral trade arrangement under duress, the D-8 PTA offers a viable solution to maintain its members' supply and value chains.
The D-8 PTA is also a solid springboard for multicontinental free trade arrangements. Therefore, it is time for the member states to embolden their vision and establish a more ambitious, wide-ranging, deeper and liberalized trade instrument.
More importantly, a comprehensive trade instrument will also be needed to boost the intra-D-8 trade to reach the target of 10% of the bloc’s global trade value. The D-8 member states must aim higher so that by 2035, the intra-D-8 trade value must triple the initial target. With a more comprehensive trade instrument, the D-8 internal trade value of 30% of its global trade value is within reach.
In order to achieve the expected trade target, various bold steps must indeed be taken.
In addition to coordinated trade facilitation, the D-8 must establish integrated special economic zones and a seamless customs system. Sectoral clustering in pharmaceuticals, halal industries, automotive, electronics, and information and communication technologies will drive next-generation industrial growth.
The D-8 must also play a more central role in the green and blue economies. Creative measures, such as blended finance to fund renewable energy, are required to ensure the bloc’s central role in balancing economic growth and sustainability.
One key element in this moonshot strategy is human capital leapfrogging. By 2055, the D-8 will be home to over 2 billion people, most of them under the age of 30. Our demographic dividend must be backed by a high-quality and targeted education system.
To support 100,000 young professionals, a knowledge and innovation fellowship can focus on AI, biotechnology, and climate science. Establishing cross-border D-8 universities and research hubs is also essential.
Now that the D-8 is 28 years old, we must see many more tangible results. We need to see our people benefit from the D-8 and its activities. The challenges we face are not insurmountable. They can be turned into opportunities.
The strength of the D-8 lies in our diversity and huge market of over 1.2 billion people. We have everything, from the bloc’s energy wealth to digital boom, industrial prowess, logistics gateway, rich natural resources and cultural heritage. Each member brings unique assets to the D-8 table. Harnessing this diversity, through a unified vision, can strengthen the Global South and champion a new cooperation model for the 21st century.
But they require bold leadership, cohesive strategy and unity of purpose. For the past 28 years, the D-8 has proven to be a resilient organization. For the next 28 years, the D-8 must embolden its moonshot, which is not merely about reaching the stars. It is more about unlocking the power of what already lies within: our youth, our markets, our natural resources, and our shared determination to build a more equitable world. And together, we can.
Happy 28th anniversary, and long live the Developing-8 Organization for Economic Cooperation.
