Iran's foreign minister, Abbas Araghchi, headed to Cairo on Tuesday for a visit that could see the two sides move toward normalization following decades of strained relations.

According to the state-run IRNA news agency, Araghchi will be attending a summit of the D-8 Organization for Economic Cooperation, which comprises Iran, Egypt, Turkey, Pakistan, Indonesia, Malaysia, Bangladesh and Nigeria. 

Founded in 1997, the D-8 seeks to boost economic cooperation among member states and improve their engagement in the global economy. The Cairo summit is expected to serve as a platform for Iran and Egypt to explore their own avenues for economic relations. As both face severe unemployment and economic challenges at home, they are hoping that diverse fields and potentials could lead to joint ventures and trade agreements.

While economic cooperation within the D-8 offers a pragmatic pathway for engagement, the summit carries broader implications for regional politics. It is being held at a critical moment for Middle Eastern geopolitics, following more than 14 months of the Israeli war in Gaza and its severe ramifications for Iran, which, less than 10 days ago, saw the overthrow of its key ally, Bashar Al-Assad, in Syria.