Baku: Sohail Mahmud, Secretary-General of the D-8 Organization for Economic Cooperation, stated that the ministerial meeting marks a significant milestone in the implementation of the D-8 Decennial Roadmap for 2020-2030, emphasizing the crucial role of energy issues.
According to Azeri-Press News Agency, the Secretary-General, speaking at the 1st Meeting of Energy Ministers of D-8 Member States in Baku, highlighted that energy is considered not just a cooperation area but a strategic driver of economic growth, industrial development, trade competitiveness, technological advancement, food security, and sustainable prosperity.
He noted the importance of strengthening cooperation in the hydrocarbon sector, energy transition, and energy connectivity, which are the main themes of the meeting. These themes address the key challenges faced by D-8 member states in the global energy landscape, including the rising demand for both conventional and renewable energy sources, supply chain disruptions, energy market volatility, and pressures from transitioning to low-carbon and sustainable energy systems.
Sohail Mahmud pointed out 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. He mentioned that member states include major hydrocarbon producers, rapidly growing energy consumers, emerging renewable energy markets, and countries situated along strategic energy and trade corridors.
He emphasized that as the economies of D-8 countries continue to develop, energy demand will also increase. The Secretary-General highlighted that renewable energy sources currently account for nearly one-third of global electricity generation, indicating the growing influence of clean energy technologies.
Sohail Mahmud concluded by stating that while embracing innovation and cleaner technologies is essential, the energy transition should be pursued in a pragmatic and balanced manner, aligned with the national development priorities of D-8 countries.