D-8 joins OIC economic ministerial session and business summit

D-8 Organization for Economic Cooperation Secretary-General Ambassador Sohail Mahmood took part in the 42nd Ministerial Session of the Organization of Islamic Cooperation’s Standing Committee for Economic and Commercial Cooperation (COMCEC) and the related B57+ Business Leaders’ Summit in Istanbul, Türkiye, from November 1 to 3, 2026. Alongside the two events, he held a series of meetings aimed at strengthening trade and investment cooperation, improving economic connectivity and building partnerships among D-8 member states and with the wider OIC membership.

COMCEC session chaired by Vice President Yılmaz

The 42nd COMCEC Ministerial Session met on November 2 and 3 under the chairmanship of Türkiye’s Vice President Cevdet Yılmaz. It focused mainly on developing effective trade-financing instruments, expanding commercial cooperation and tackling obstacles to economic integration among OIC member countries. During the session, the Secretary-General had a brief exchange with Yılmaz and thanked him for Türkiye’s continued support for regional economic cooperation within the D-8 framework and for the shared objectives of the D-8 and COMCEC.

B57+ Business Leaders’ Summit opens the programme

On November 1, Ambassador Sohail Mahmood attended the B57+ Business Leaders’ Summit, held under the theme “The Great Convergence: Catalyzing OIC Capital for Global South Resilience.” The summit was organized by the Islamic Chamber of Commerce and Development (ICCD) in collaboration with COMCEC and the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), and featured a keynote address by Türkiye’s Trade Minister Prof. Dr. Ömer Bolat. Policymakers, business leaders, investors and financial institutions discussed ways to mobilize investment, strengthen private-sector partnerships and build economic resilience across developing economies.

Talks with Bangladesh, Iran and Indonesia

On the sidelines, the Secretary-General held separate bilateral meetings with a number of participating dignitaries. With Bangladesh’s Minister of Commerce, Khandakar Abdul Muktadir, he discussed wider preferential market access, tariff and non-tariff barriers and the intra-D-8 trade target of US$500 billion by 2030. He highlighted recent developments on the D-8 Preferential Trade Agreement (PTA) and the need for its effective implementation and full use by member states. The two also covered trade facilitation, customs procedures and further liberalization, including a possible comprehensive economic partnership agreement and, eventually, a free trade agreement. The Secretary-General welcomed Bangladesh’s proposals to simplify visa procedures to ease business-to-business contacts.

In his meeting with Iran’s Minister of Economic Affairs and Finance, Dr. Seyed Ali Madanizadeh, the focus was on economic and financial connectivity among D-8 members. They looked at ways to expand bilateral and intra-D-8 trade and investment, ease financial transactions and strengthen cooperation among financial and economic institutions, stressing practical steps to overcome existing challenges.

With Indonesia’s Vice Minister of Trade, Dyah Roro Esti Widya Putri, the discussion centered on speeding up PTA implementation and on cooperation in the halal economy, trade facilitation and private-sector engagement. Indonesia will host the 12th D-8 Summit in 2027, and Ambassador Sohail Mahmood called it an excellent opportunity to advance concrete initiatives, deepen economic integration and strengthen business partnerships among member states. He also welcomed the proposed thematic focus of the summit and the core priorities set out by the incoming Indonesian Presidency.

ICCD cooperation and a push for results

The Secretary-General also met ICCD Secretary-General Yousef Hassan Khalawi to discuss institutional collaboration, business-to-business links and possible joint initiatives in trade promotion, investment facilitation, halal industries, SME development and capacity-building. Both sides saw room for closer cooperation between the D-8 and ICCD in mobilizing the private sector and connecting business communities across their member states.

Across these meetings, Ambassador Sohail Mahmood stressed the need to turn the D-8 Decennial Roadmap 2020-2030 into concrete results, particularly through effective implementation of the trade agreement, removal of procedural barriers, better financial connectivity and greater private-sector involvement. Reaffirming the goal of raising intra-D-8 trade to US$500 billion by 2030, he called for coordinated action by member states and closer collaboration with regional and international institutions.