ISLAMABAD, Nov 05 (APP):Secretary-General of the Developing-8 Organization for Economic Cooperation (D-8), Ambassador Sohail Mahmood, has called for stronger trade and investment ties, improved economic connectivity and greater private-sector participation among member states to accelerate regional economic integration. He made these remarks during the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) and the B57+ Business Leaders’ Summit, held …
D-8 Secretary General highlights trade, investment cooperation at COMCEC session in Istanbul
ISLAMABAD, Nov 05 (APP):Secretary-General of the Developing-8 Organization for Economic Cooperation (D-8), Ambassador Sohail Mahmood, has called for stronger trade and investment ties, improved economic connectivity and greater private-sector participation among member states to accelerate regional economic integration.
He made these remarks during the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) and the B57+ Business Leaders’ Summit, held in Istanbul, Türkiye, from November 1 to 3, according to a press release.
During his visit, Ambassador Sohail Mahmood held several high-level meetings with participating dignitaries, focusing on expanding trade and investment opportunities, strengthening economic links and promoting mutually beneficial partnerships among D-8 member states and the wider OIC membership.
The 42nd COMCEC Ministerial Session, held on November 2 and 3 under the chairmanship of Turkish Vice President Cevdet Yilmaz, focused on developing effective trade-financing mechanisms, expanding commercial cooperation and addressing obstacles to economic integration among OIC member countries.
On the sidelines of the session, the D-8 Secretary-General met Vice President Cevdet Yilmaz and conveyed his appreciation for Türkiye’s continued support for regional economic cooperation under the D-8 framework and the shared objectives of D-8 and COMCEC.
Earlier, on November 1, Ambassador Sohail attended the B57+ Business Leaders’ Summit, organised by the Islamic Chamber of Commerce and Development (ICCD) in collaboration with COMCEC and the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).
Held under the theme “The Great Convergence: Catalyzing OIC Capital for Global South Resilience,” the summit brought together policymakers, business leaders, investors and financial institutions to explore ways of mobilising investment, strengthening private-sector partnerships and building economic resilience across developing economies. Turkish Minister of Trade Prof. Dr. Omer Bolat delivered the keynote address.
As part of his bilateral engagements, Ambassador Sohail met Bangladesh’s Minister of Commerce, Khandakar Abdul Muktadir, to discuss ways to advance the D-8 trade agenda, including expanding preferential market access, removing tariff and non-tariff barriers and achieving the organisation’s target of increasing intra-D-8 trade to $500 billion by 2030.
The discussions also covered developments concerning the D-8 Preferential Trade Agreement (PTA), its effective implementation and greater utilisation by member states. Both sides explored trade facilitation, simplified customs procedures and prospects for further trade liberalisation through a possible comprehensive economic partnership agreement and, eventually, a free trade agreement. The Secretary-General also welcomed Bangladesh’s proposals to simplify visa procedures to encourage greater business-to-business engagement.
In a separate meeting with Iran’s Minister of Economic Affairs and Finance, Dr. Seyed Ali Madanizadeh, the D-8 chief discussed strengthening economic and financial connectivity among member states. The discussions focused on expanding bilateral and intra-D-8 trade and investment, facilitating financial transactions and improving cooperation among relevant economic and financial institutions.
Both sides stressed the need for practical measures to address existing challenges and promote deeper economic integration within the D-8 framework.
Ambassador Sohail also met Indonesia’s Vice Minister of Trade, Dyah Roro Esti Widya Putri, to discuss the country’s role in advancing the D-8 economic agenda ahead of its upcoming chairmanship.
The meeting focused on accelerating the implementation of the D-8 Preferential Trade Agreement, expanding trade opportunities and strengthening cooperation in the halal economy, trade facilitation and private-sector engagement.
Highlighting the significance of the 12th D-8 Summit, scheduled to be hosted by Indonesia in 2027, Ambassador Sohail described the gathering as an important opportunity to advance practical initiatives, deepen economic integration and strengthen business partnerships among member states. He also appreciated the proposed theme and key priorities outlined by Indonesia’s incoming presidency.
In another meeting, the Secretary-General held discussions with ICCD Secretary-General Yousef Hassan Khalawi on strengthening institutional cooperation, promoting business-to-business partnerships and exploring joint initiatives in trade promotion, investment facilitation, halal industries, small and medium-sized enterprise development and capacity-building.
Throughout these engagements, Ambassador Sohail emphasised the importance of translating the D-8 Decennial Roadmap 2020-2030 into tangible outcomes through effective implementation of trade agreements, removal of procedural barriers, improved financial connectivity and stronger private-sector involvement.
