Malaysia To Propose US$500 Bln D-8 Trade Target To Cabinet - Ahmad Zahid
From Siti Nurhana Sharifah Mat Nazir
ISTANBUL, Nov 8 (Bernama) -- Malaysia will deliberate on the Developing Eight (D-8) Organisation for Economic Cooperation’s target to raise intra-member trade to over US$500 billion by 2030 before the matter is brought to the Cabinet.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said he would first discuss the issue with Prime Minister Datuk Seri Anwar Ibrahim and Foreign Minister Datuk Seri Mohamad Hasan to study the steps Malaysia could take to realise this target.
The target is achievable through proactive measures to boost trade among member states, leveraging the group’s market strengths and economic potential, he said.
"I discussed this in depth during a courtesy call by D-8 Secretary-General Sohail Mahmood on Nov 6, and I will present it to the Prime Minister and the Foreign Minister," he told the Malaysian media during a press conference concluding his four-day working visit to Türkiye, which ends today.
Also present were Majlis Amanah Rakyat (MARA) chairman Datuk Dr Asyraf Wajdi Dusuki and the Ministry of Foreign Affairs’ Deputy Secretary-General (Bilateral Affairs), Datuk Syed Mohamad Hasrin Tengku Hussin.
In a related development, Ahmad Zahid said he would consult the Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani on measures to address the trade imbalance between Malaysia and Türkiye. The trade surplus currently favours Malaysia.
"This matter was also raised by the Turkish side, which requested that Malaysia explore opportunities to increase imports of goods and products to achieve a more balanced trade relationship. Consequently, they have asked Malaysia to look into importing a greater volume of goods and products from Türkiye," he said.
The D-8, established in 1997, serves as a platform for economic cooperation among its member nations — Azerbaijan, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye. Azerbaijan joined the group in 2025.
The organisation was formally announced via the Istanbul Declaration during the Summit of Heads of State and Government on June 15, 1997.
Ahmad Zahid concludes his four-day working visit to Türkiye today. The visit focused, among other things, on strengthening the Malaysia-Türkiye strategic partnership through cooperation in diplomacy, trade, defence, and education.
During the Nov 5-8 visit, he also participated in the TRT World Forum 2026 at the Istanbul Congress Centre on Nov 6. The forum brought together political leaders, policymakers, and academics from around the world to discuss geopolitical challenges and international developments.
-- BERNAMA