Iranian exports to D-8 nations rises over 24 percent in 8 months


(MENAFN) Iranian exports to the Developing-8 (D-8), a coalition of eight developing Islamic nations, rose by over 24 percent in value during the first eight months of the current Iranian calendar year (March 20–November 20) compared to the same period last year, according to the Islamic Republic of Iran Customs Administration (IRICA). Approximately 13.6 million tons of goods worth USD6.317 billion were exported to seven of the D-8 member countries during this period, representing a 26 percent increase in weight, as reported by IRIB.

Turkey was the leading importer of Iranian goods, receiving around 9.4 million tons valued at over USD4.4 billion. Pakistan and Indonesia ranked as the second and third-largest importers, respectively, highlighting the significant trade relationships Iran maintains with its regional and international partners within the D-8 framework.

The D-8 group, established in 1997 by former Turkish Prime Minister Necmettin Erbakan, includes Iran, Turkey, Pakistan, Bangladesh, Indonesia, Malaysia, Egypt, and Nigeria. Its primary objectives are to enhance economic and trade collaboration, encourage scientific partnerships, and promote the exchange of technology among member nations. According to Sheikh Attar, a former Deputy Minister of Foreign Affairs, the total trade capacity of the D-8 has now exceeded USD68 billion.

At the recent 11th D-8 Summit held in Cairo, Egypt, Iranian President Masoud Pezeshkian attended as part of his historic visit, marking the first trip by an Iranian president to Egypt in over a decade. During the summit, President Pezeshkian proposed the creation of a D-8 development fund aimed at facilitating joint investments and strengthening economic ties among the member states.

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