Hassan El-Khatib, Minister of Investment and Foreign Trade, reaffirmed Egypt's commitment to completing the ratification procedures for the Preferential Trade Agreement (PTA) among member states of the Developing-8 Organisation for Economic Cooperation (D-8). He added that Egypt will formally notify the organisation's Secretariat once the process is finalised. El-Khatib stressed the importance of launching the Comprehensive Economic Partnership Agreement (CEPA) Working Group to broaden the scope of cooperation, define priorities for the next phase and drive progress toward raising intra-trade among D-8 countries to $500bn by 2030, in line with the group's roadmap. He noted that Egypt has worked to ensure that the PTA becomes a dynamic and effective platform for economic cooperation. This includes fully activating the agreement, implementing the trade-facilitation strategy, adopting a binding timetable for key actions, and operationalising the Dispute Settlement Committee. The remarks came as El-Khatib chaired the fourth session of the D-8 Council of Ministers of Trade, held in Cairo, with the participation of trade ministers, the D-8 Secretary-General and high-level delegations from member states. In his address, El-Khatib expressed pride in Egypt hosting the gathering, emphasising that its convening reflects the collective commitment of member states to strengthening economic and trade cooperation and exploring new avenues for development and investment that benefit the peoples of the region. He highlighted the need for D-8 countries to work together in responding to global shifts in trade dynamics and value chains, noting that such transformations demand more flexible policies to reinforce commercial integration and sustainable growth. The Minister praised the diversity of the D-8 members in terms of heritage, culture and abundant resources, emphasising that their unity under the organisation provides a unique opportunity to harness collective strengths, expand trade and investment prospects and improve living standards across the group. El-Khatib revealed that intra-D-8 trade reached approximately $150bn in 2024, underscoring the need to intensify joint efforts to unlock the full potential of member states and significantly increase trade volumes. He outlined Egypt's priorities during its presidency of the D-8, which include deepening trade integration, enhancing investment flows, supporting sustainable development, promoting innovation and technology, strengthening institutional frameworks, improving infrastructure and facilitating capacity-building and knowledge exchange. El-Khatib also stressed the importance of supporting small and medium-sized enterprises, empowering youth and advancing food security initiatives. He highlighted plans to establish a Regional Seed Bank and examine the creation of a strategic reserve for essential commodities. He added that expanding cooperation frameworks requires organising trade forums and delegation visits to boost investment and enhance direct communication between private-sector actors, thereby opening new opportunities for sustainable economic growth. These initiatives, he said, will help diversify trade portfolios, attract intra-group investment, create jobs and promote sustainable development across all member states, supported by transparent and continuous follow-up on outcomes and recommendations. El-Khatib concluded by praising the D-8 Organisation's pivotal role in strengthening economic and trade ties and reaffirmed Egypt's commitment to collective action for a more prosperous and sustainable future for the peoples of the Developing-8.
