1. The Commission held its XV. Session in Tehran on 15 February 2004.
The Chairman H. E. Ambassador Mohammed Hossein Adeli in his opening statement, explaining the main objectives of D-8 cooperation and underlining the importance of trade sector, briefed the Commission in general on the meetings of the Second Business Forum and High Level Trade Officials.

2. After the adoption of the agenda, the Executive Director Ambassador Ayhan Kamel summarized the developments since the last session and drew the attention of the Commission to some new proposals by some member countries. The Commission welcomed the proposals made by Nigeria and Indonesia on alternative energy resources and establishment of a framework of central banks forum of the D-8 countries respectively.

3. On behalf of the Chairman of the Business Forum, Mr. Abdulreza
Hangani, presented the report of the Second Business Forum which took place on 14 February 2004. (The report of the meeting is in Annex I.). In their exchange of views on the recommendations of the Forum, the Commissioners appreciated the dynamic approach of the participants to the D-8 cooperation. They took note of several recommendations which, they think, deserve serious consideration. In this context, they especially welcomed the recommendations on the steps to be taken for the promotion of D-8 intra-trade. In this vein, the importance of recommendations on the establishment of a direct correspondent banking system and sharing research and transfer of technology in the field of pharmaceuticals, biotechnology and vaccines was also underlined. The Commission decided to refer the recommendations to the relevant authorities of the member countries to seek their views. Moreover, the Commission, sharing the need for greater interaction of the business community with the public sector and decision makers, also decided to have an agenda item at its sessions for a joint meeting with the Chairman of the Business Forum. It was agreed that there should be a reference in the Tehran Declaration to the work of the Business Forum with a view to encourage private sector to participate in D-8 cooperation.

4. The Chairman of the Meeting of the High Level Trade Officials, Mr.
Moustapha Sarmadi, Advisor to the Minister of Commerce and Director General for International and Specialized Organizations, presented the meeting’s report (Annex II). In the course of exchange of views on the report, the Commissioners, have agreed, in principle, to the conclusion of a “Preferential Trade Agreement” and a “Multilateral Agreement in Administrative Customs Matters”. The Commission invited the member countries to give their views by the end of May 2004 and welcomed the offer of Pakistan to host the next meeting in the first half of September 2004. In view of the vital importance of trade in D-8 cooperation , the Commission called upon the high level officials to accelerate their work to conclude these agreements at an early date.

5. The Commission approved the planned meetings for the year 2004 and  submitted the list to the Council of Ministers for approval. (Annex III.)

6. The Commission considered the draft text of Tehran Declaration and  decided to submit the text to the Council of Foreign Ministers for approval.

7. The Commission considered the draft agenda of the Council and the
Summit and recommended the attached texts (Annex IV. And V.)

8. The Commissioners expressed their appreciation to the Chairman, H.E. Ambassador Adeli, for conducting the meeting in the most efficient and competent manner. They extended their profound thanks to the Government of the I.R. of Iran for the excellent organizational arrangements and for its warm hospitality.