ANKARA
The Developing-8 Organization for Economic Cooperation forecasts the expansion of trade among its member countries if sanctions are removed from Iran, D-8 secretary-general said on Tuesday.
Iran and the P5+1 group of world powers reached a framework deal on April 2 on Iran's nuclear activities ahead of a June 30 deadline for a final agreement.
"We support this agreement. If the agreement is concluded, and the embargo on Iran is lifted, that will affect positively not only Iran's economy but also those of neighboring countries', D-8 member Turkey's economy, and those of other D-8 member countries," Seyed Ali Mohammad Mousavi, told The Anadolu Agency in eastern Turkey’s Agri province on Tuesday.
Stating that Iran is one of the most important and active members of D-8, Mousavi said, "Iran's trade, export and import with these countries will increase. Therefore, trade inside D-8 will improve. That will raise prosperity and wealth of the member countries. As D-8, our most important aim is to enhance trade between member countries."
Mousavi also said that the oil market has started to stabilize. "The fluctuations in oil prices will continue in future, but I am sure that everything will be all right in the medium term."
Among D-8, member countries, those that import oil have seen positive effects from the decrease in oil prices, while those who export the commodity have been affected negatively, he said, adding that in this regard there is a balance between member countries.
The D-8 secretary-general also pointed out that the D-8 is not well-known in Turkey. "The D-8 should become better known in Turkey, which is the father of D-8. We aim to increase recognition of the D-8 in Turkey which is the host and founder of the group. It will boost its efficiency," he added.
The Developing-8 or D-8 is a multilateral grouping of eight emerging economies of the Muslim world, including Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. It was established in 1997 in Istanbul by former Turkish premier Necmettin Erbakan. The organization reflects a combined population of one billion and a market of about one trillion U.S. dollars.
