Iranˈs oil minister invited to D-8 energy meeting

Ankara, April 12, IRNA - Iranˈs Oil Minister Bijan Namdar Zanganeh has been invited to first ministerial meeting of Developing Eight (D-8) to be held in Turkey on May 26-28. The Iranian Secretary-General of the D-8 Ali Mohammad Mousavi told IRNA here that during the meeting, the bodyˈs energy ministers are to discuss ways to promote cooperation among member states in the field of energy and natural resources. They are also to review expansion of trade, industrial, agricultural and transportation cooperation, Mousavi added. According to Mousavi, D-8 has a trade volume target of dlrs 500 billion by 2018. The Developing Eight are a group of developing countries with large Muslim populations that have formed an economic development alliance. Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey are members of the organization which is a global arrangement rather than a regional one. 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.