The two officials met on the sidelines of the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) in Istanbul, according to SHADA, the news outlet of the Iranian Ministry of Economic Affairs and Finance.

Their discussions focused on deepening economic and trade relations among D-8 member states, enhancing investment cooperation, and mobilizing the organization’s existing capacities to create new opportunities for economic growth.

Established in 1997, the Developing Eight (D-8) Organization for Economic Cooperation aims to strengthen the position of developing countries in the global economy, expand trade relations and generate new economic opportunities. Its membership comprises nine countries: Iran, Türkiye, Pakistan, Bangladesh, Malaysia, Indonesia, Egypt, Nigeria and Azerbaijan. The organization’s secretariat is based in Istanbul.

Trade, agriculture, transport, industry, energy and tourism are among the organization’s principal areas of cooperation. Expanding intra-group trade and strengthening economic integration among member states are also central to its agenda.

In this context, the D-8 has set a target of increasing trade among its members to $500 billion by 2030, reflecting its ambition to deepen regional economic ties and expand commercial opportunities.

Madanizadeh’s meeting with Mahmood forms part of Iran’s broader efforts to strengthen economic relations with Islamic countries and enhance multilateral cooperation in trade, investment, and economic connectivity.