The Developing Eight (D-8) Organization prioritized a push for increased tourism earnings among its member countries in 2023, as reported by Anadolu Agency.

Formed following the Istanbul Declaration in 1997, this organization, comprising Turkey, Nigeria, Egypt, Pakistan, Indonesia, Iran, Malaysia, and Bangladesh, aims to enhance prosperity and peace among its 1.2 billion population, holding a 14% share in global trade.

Under Bangladeshi leadership, the group strived to enhance collaboration among member nations, particularly addressing challenges in tourism and funding shortages throughout the year.

Secretary General Ambassador Isiaka Abdulqadir Imam emphasized the significance of the tourism sector in fostering economic cooperation among member states. He highlighted Turkey's achievement of over US$20 billion in tourism revenue from January to June as an example for other member countries to follow.

Aside from tourism, the D-8 is actively working on establishing a barter trade system to alleviate foreign exchange reserve concerns. Collaborative efforts include signing agreements with private entities in Turkey and Malaysia and planning to set up economic centers in these countries.

The organization also aims to promote e-commerce to connect entrepreneurs and people across three continents more efficiently.

Imam acknowledged challenges such as the lack of funding for projects, the absence of representation, and the postponement of the D-8 Trade Ministerial meeting due to funding constraints. Efforts are underway to address these issues, including plans for a D-8 Development Fund and discussions about establishing a D-8 Bank.

Regarding the organization's leadership, Imam noted Bangladesh's chairmanship until April 2024, followed by Egypt assuming the role due to the organization's alphabetical rotation system. Efforts to improve the organization's presence and effectiveness continue with partnerships formed with Anadolu and Turkey's national broadcaster, TRT.

Overall, the D-8 is actively pursuing strategies to enhance cooperation among member states, with a special focus on leveraging tourism for economic growth, addressing financial challenges, and strengthening its global presence.

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