ISTANBUL DECLARATION

We, the Heads of State/Government of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey having met in Istanbul on 15th day of June 1997, and,

having reviewed the international political scene and concluded that the post Cold War international situation including rapid globalization of the world economic structure, has created both opportunities and challenges for developing countries,

conscious ofthe deep-rooted and sincere aspirations of mankind for peace, dialogue, co-operation, justice, equality and democracy,

having observed with deep disappointment and concern that instead of achieving these goals, new causes of tension, instability, conflict and confrontation have developed in various parts of the world and old policies of double-standards, discrimination and oppression have continued and in some cases intensified,

having confirmed that close and effective co-operation and consultation among developing countries is essential for world peace,

having exchanged views on the current global economic situation and its impact on our countries,

recognizing that the eradication of poverty requires ensuring universal access to economic opportunities that will promote sustainable livelihood and making basic efforts to facilitate access to opportunities and services for the disadvantaged,

noting that people living in poverty and vulnerable groups must be empowered through organization and social life, in particular in the planning and implementation of policies that affect them, thus enabling them to become genuine partners in development,

recognizing the need for a stable international macroeconomic framework, open markets, enhanced financial resource support and infusion of technological dynamism to sustain the competitiveness of our economies and to overcome their problems of integration to the world economy,

stressing the necessity for the international community to promote and implement policies to create a supportive external economic environment, through consultation and coordination in the formulation and implementation of macroeconomic policies,

stressing the need for a sound macro-economic management with emphasis on industrialization and human resources development and a constructive partnership between public/government and private sector,

considering the obstacles before our countries’ economies for a faster and healthier growth,

recognizing the needto overcome the existing trade barriers facing our countries,

having noted the insufficient share of our economies in the global trade activities as well as the inadequate role of our countries in the global economic decision-making,

convinced that through our joint efforts, revitalization of our mutual co-operation and co-ordination with the rest of the developing world, we can increase our contribution to the decision-making process at the international level and become partners in shaping world economic relations,

desirous of enhancing the insufficient volume of trade among our countries, as well as increasing the Group’s exports to the outside world,

expressing the resolve of our Governments for a wider use of modern technology and its effective contribution to the economic and social development of our countries,

committed to fostering a global partnership in the world economy based on a constructive dialogue through a democratic and participatory process,

expressing the immediate needs and expectations of our respective nations for a higher level of development in all its aspects,

being aware of our vast common potential and the proven benefits of closer economic co-operation,

stressing the crucial role of the business community in fostering co-operation among developing countries,

having acknowledged that the deep-rooted historical affinities provided a strong basis and framework for mutually beneficial co-operation,

underlining the imperative of respect for the purposes, principles and objectives of the United Nations Charter,

subscribing to the principles of consultation, coordination, transparency, equity, equality and respect for each other,

1. hereby decide toestablish a mechanism for development co-operation which will be called Developing-8 (D-8),

2. further decide that D-8 will be a forum with no adverse effect on bilateral and multilateral commitments of the member states emanating from their membership to other international or regional organizations,

3. declarethe main objective of D-8 to be socio-economic development in accordance with the following principles :

• Peace instead of conflict
• Dialogue instead of confrontation
• Co-operation instead of exploitation
• Justice instead of double-standards
• Equality instead of discrimination
• Democracy instead of oppression

4. decide that co-operation will encompass all areas, including political consultation and co-ordination at the international fora, and agree on a number of non-exhaustive areas of co-operation such as :

• Trade,
• Industry,
• Communication and Information,
• Finance, Banking and Privatization,
• Rural Development,
• Science and Technology,
• Poverty Alleviation and Human Resources Development,
• Agriculture,
• Energy,
• Environment,
• Health,
• Tourism,
• Culture and Sports,

5. approve the Report of the Council which agreed on six priority projects to be launched immediately,

6. encourage the establishment of Joint Business Councils among the Chambers of Commerce and Industry and other related bodies of the member countries with a view to initiating action-oriented projects of co-operation and promoting concrete transactions within the business community in accordance with the principles and objectives of D-8,

7. decide that D-8 be a global forum whose membership will be open to other developing countries, subscribing to the goals, objectives and principles of the group and sharing common bonds,

8. express our collective resolve to co-operate with both the developing and economically developed countries in the realization of the above-mentioned goals,

9. decide that an appropriate mechanism be established to liaise with other relevant international organizations, particularly with the Organization of Islamic Countries,

10. approve the Council document on the Structure and Functioning of D-8,

11. welcome the decision of the Government of Turkey to appoint an Executive Director to provide coordination during its Chairmanship of D-8, and express deep appreciation for the generous offer by Turkey to provide facilities for Executive Director in Istanbul and meet its expenses during that period,

12. decide that the next meeting of the D-8 Summit will be held in Dhaka, Bangladesh in November/December 1998.