Sohail Mahmud, Secretary-General of the D-8 Organization for Economic Cooperation, said today's ministerial meeting marks an important milestone in the implementation of the D-8 Decennial Roadmap for 2020–2030, in which energy issues hold a special place, APA-Economics reports.
"This meeting demonstrates that we recognize energy not merely as one area of cooperation, but as a strategic driver of economic growth, industrial development, trade competitiveness, technological advancement, food security, and sustainable prosperity," the Secretary-General said during the 1st Meeting of Energy Ministers of D-8 Member States held in Baku.
According to him, strengthening cooperation in the hydrocarbon sector, energy transition, and energy connectivity — the main theme of today's meeting — is both timely and highly important.
"This theme encompasses the key challenges faced by D-8 member states in the rapidly evolving global energy landscape. These challenges include growing demand for conventional and renewable energy sources, disruptions in supply chains, volatility in energy markets, and increasing pressures associated with the transition to low-carbon and sustainable energy systems," Sohail Mahmud stressed.
He added that D-8 countries represent a vast economic space with a population of approximately 1.3 billion people and a combined GDP exceeding $5 trillion. "Our member states include major hydrocarbon producers, rapidly growing energy consumers, emerging renewable energy markets, and countries located along some of the world's most strategic energy and trade corridors."
"As our economies develop, our energy demand will continue to grow," the Secretary-General said.
Meanwhile, renewable energy sources already account for nearly one-third of global electricity generation, reflecting the growing role of clean energy technologies in shaping the future energy landscape.
"These trends send an important message for D-8 countries: while we must embrace innovation and cleaner technologies, the energy transition should be pursued in a pragmatic, balanced manner aligned with national development priorities," Sohail Mahmud noted.
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