Egypt, chairing the D-8 Organisation for Economic Cooperation (Developing-8) Trade Ministers Council, unveiled a comprehensive strategy to enhance preferential trade, strengthen economic integration, and expand investment among member states. Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib chaired the fourth session of the council in Cairo on Tuesday, attended by trade ministers from D-8 countries, the organisation's Secretary-General, and senior officials from member states. In his opening remarks, El-Khatib emphasised the importance of closer cooperation to navigate global trade shifts and value chain disruptions, saying flexible policies are needed to promote trade integration and sustainable growth across the D-8 group. Highlighting the region's diversity in resources, culture, and heritage, he described the D-8 as a platform to leverage collective capabilities, expand trade and investment opportunities, and raise living standards across member states. El-Khatib noted that intra-D-8 trade reached approximately $150 billion in 2024 and called for concerted efforts to increase it to $500 billion by 2030. Egypt's priorities during its chairmanship include deepening trade integration, promoting investment, supporting sustainable development, leveraging innovation and technology, and improving infrastructure and institutional frameworks. The minister said Egypt is working to fully activate the D-8 preferential trade agreement, implement trade facilitation strategies, enforce a binding timetable, and operationalise the dispute settlement committee. Plans also include launching a working group for the Comprehensive Economic Partnership Agreement (CEPA) to expand trade avenues and discuss the next phase of priorities. El-Khatib stressed support for SMEs, youth empowerment, and regional initiatives such as a Regional Seed Bank and strategic reserves for essential commodities to enhance food security. He also called for trade forums and delegation visits to facilitate investment and strengthen private sector collaboration among member states. "The initiatives aim to diversify trade, attract intra-D-8 investment, create jobs, and foster sustainable development," he said, adding that Egypt will ensure transparent and effective follow-up on results and recommendations. El-Khatib concluded by praising the D-8's role in promoting economic cooperation and reaffirmed Egypt's commitment to advancing a more prosperous and sustainable future for all member states. Attribution: Amwal Al Ghad English
