Iranian Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh announced the country's readiness for foreign investments in its textile, nanotechnology and auto industries.
Nematzadeh made the announcement addressing the Fourth Meeting of the Industries Ministers of the Developing 8 (D-8 or Developing Eight) member-states in Tehran on Wednesday.
"Iran is ready to accept foreign investors willing to invest in the country's textile industry, nanotechnology and auto industry," the Iranian industries minister said.
The Developing 8 (D-8 or Developing Eight) are a group of developing countries with large Muslim populations that have formed an economic development alliance. It consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.
The objectives of D-8 Organization for Economic Cooperation are to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at international level, and improve standards of living.
D-8 is a global arrangement rather than a regional one, as the composition of its members reflects.