D-8 Urges Developing Countries Shift From Raw Material Exports

(MENAFN- Nam News Network)

KUALA LUMPUR, Oct 22 (NNN) -- Developing countries need stronger economic cooperation to reduce their dependence on raw material exports and accelerate the shift towards higher-value production, said Developing Eight Organisation for Economic Cooperation (D-8) Director Mohd Syafik Firdaus Hasbullah.

He said practical, coordinated measures were needed to support industrial development, technological advancement and more equitable economic partnerships, particularly among countries in the Global South.

“Economic interdependence could contribute meaningfully to international peace, stability and prosperity when underpinned by economic diversification, fairness, mutual trust and respect for national sovereignty,” he emphasised.

He made the remarks during a panel discussion on international trade diplomacy at the Global Youth Diplomacy Summit Turkiye 2026, held at Istanbul Ticaret University, the D-8 said in a statement.

He said international trade should not only drive economic growth but also foster mutual understanding, strengthen partnerships and promote shared prosperity among nations.

Syafik also highlighted the significance of regional economic cooperation in advancing sustainable development, strengthening economic resilience and creating greater opportunities for trade and investment.

He stressed the importance of inclusive and mutually beneficial partnerships in addressing emerging global economic challenges.

Focusing on“Football Diplomacy, 21st Century Security Issues and International Trade Diplomacy”, the summit provided a platform for discussions on international cooperation and the evolving role of youth in shaping global governance.

--NNN

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