Iran's president Mahmoud Ahmadinejad said that the world is in need for new world order on the basis of the fundamental principles of justice and humanity, IRNA reported.
Ahmadinejad added that he era of capitalists has come to an end with the tiding of a new age for humankind, speaking at the D-8 Summit in Islamabad.
"Former colonial power and slave masters in a new guise and with new slogans are using different methods and tactics to dominate and plunder resources of nations on the basis of the same hegemonic doctrines," he said.
"Militarism, occupations and violation of other countries' national sovereignty have been rising as in countries like Afghanistan, Iraq and Pakistan, the president added. "Because of their predominance over the world monetary system, worthless paper assets were printed to loot and deplete systematically the wealth and resources of nations."
He added that a fundamental change and establishment of a new humane order require a firm resolve and joint efforts of all.
"We all seek to put an end to hegemony, unilateralism, occupation, arms race and violation of countries' sovereignties," he noted.
The Iranian president also urged cooperation to exploit the " great economic, political and geographical potentials" of the D-8 countries, which groups Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
"We can and we must cooperate to exploit appropriately these resources and potentials towards the prosperity of our nations and for reforming the present world order," he 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.