He said: "Despite various sanctions imposed against Iran over previous years, Iranian engineers and researchers have been able to achieve great breakthroughs in petrochemicals, advanced technologies, machineries and manufacturing."

He also noted that industrial development will open many doors towards the private sector.

According to the official, boosting cooperation with other third world bodies like ECO can solve part of economic problems of the region and overcoming challenges.

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. Organization for Economic Cooperation (D-8) is a forum with no adverse impact on bilateral and multilateral commitments of the member countries, emanating from their membership to other international or regional organizations.