Malaysia (Commonwealth Union)_The D-8 nations Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey are planning to establish a new collaborative mechanism for addressing natural disasters. According to Isiaka Abdullah Imam, the secretary-general of the organization, the eight countries, collectively known as the Developing-8 or D-8, intend to strengthen their disaster assistance capabilities to fulfill the requirements of each member during an emergency.
Imam expressed deep condolences for the series of earthquakes that destroyed southeast Turkey and sections of Syria in February, noting that all members have their own relief agencies, and that the D-8 is attempting to establish a joint platform. He said, “Nobody wishes for natural disasters to occur, but when they happen, a collaborative approach is necessary”. In February, 7.6 and 7.7 magnitude earthquakes struck eleven provinces in Turkey, killing more than 55,000 people and affecting over 13.5 million. Following the fatal incident, hundreds of foreign relief and rescue teams arrived in Turkey to assist with disaster management and its aftermath. He noted, “This tool could meet the aid (needs) of the government of any member state if that sort of thing ever happens again”.
According to the bloc’s senior official, the D-8 is a massive market with a population strength of more than 1.1 billion people. He also mentioned an agreement signed between the D-8 and the Turkish Independent Industrialists and Businessmen’s Association (MÜSIAD) last year. According to Imam, the purpose of the agreement is to promote economic conditions among member nations by conducting events such as economic seminars. However, he stated that it is too early to expect immediate outcomes, and noted that the agreement will serve as a stepping stone. He said, “So, I’m very optimistic that the cooperation we signed with MÜSIAD would help us a lot in unlocking potential and assisting trade in the eight member states”.
The secretary-general emphasized that sectors such as energy, agriculture, and infrastructure will begin to experience the accord’s benefits beginning in May and continuing into next year. Further, Imam stated that the Russia-Ukraine war imposed challenging conditions on certain D-8 members. He also added that the conflict had disclosed the adverse effects that vulnerable nations could face as a result of international trade disruptions. He emphasized that the organization was aware of the war’s consequences. He said, “We are trying to focus more on energy production and agriculture among our member states.”
Imam noted that some of the eight member states have enough energy production, and others are lagging behind. He added that the D-8 platform could assist in enhancing the energy output of its member states, referring to two energy-related meetings that will be hosted later this year. The meetings will also focus on enhancing food supply and food security, as well as managing initiatives such as the establishment of a seed bank and expanding fertilizer supplies. According to Imam, the global financial system has recently been unstable, and the D-8 nations, which are not immune to its effects, are taking action. He said, “We are examining how we can create our own payment system,” adding that this could increase the volume of commerce between members.
Further, he proposed that the eight member states can use a new payment card similar to Visa or MasterCard, the two largest payment networks in the world. Imam also stated that the D-8 was also planning to launch a collaborative e-commerce platform that would likely adhere to the Islamic halal trade system in its entirety. According to him, all of these initiatives are aimed at introducing important measures to alleviate the financial burden on member states. Developing-8 was established in June 1997, after the then-prime minister of Turkey, Necmettin Erbakan, proposed the formation of an economic organization of eight emerging economies from the Muslim world.
