Egypt has unveiled an ambitious strategy to raise intra-trade among member states of the Developing-8 Organisation for Economic Cooperation (D-8) to $500 billion by 2030.
The plan was presented by Minister of Investment and Foreign Trade Hassan El-Khatib during the fourth session of the D-8 Council of Ministers of Trade, held in Cairo. The meeting was attended by trade ministers, the D-8 Secretary General and senior delegations from member countries.
El-Khatib reaffirmed Egypt’s commitment to completing the ratification procedures for the Preferential Trade Agreement between D-8 members. He said Egypt would notify the organisation’s Secretariat once the process is finalised.
Egypt drives plan for stronger D-8 ties
According to the Minister, the agreement is intended to serve as a more active and effective platform for economic cooperation by fully activating its provisions, implementing the trade facilitation strategy and enforcing a binding timetable for priority actions. He added that Egypt is also working to operationalise the Dispute Settlement Committee.
The Minister called for the launch of a Comprehensive Economic Partnership Agreement Working Group to broaden the scope of cooperation and identify priorities that can help drive progress towards the 2030 trade target. He said the current global shifts in trade patterns and supply chains require more flexible policies among the D-8 countries to strengthen commercial integration and support sustainable growth.
In his remarks, El-Khatib said hosting the meeting reflects Egypt’s commitment to deeper economic and trade cooperation among member states. He praised the diversity of the D-8 nations in terms of culture, heritage and natural resources, noting that combined strengths present opportunities to expand trade and investment and improve living standards. Intra-D-8 trade reached around $150 billion in 2024, he said, adding that the group must work together to unlock further potential.
El-Khatib outlined Egypt’s priorities for its presidency of the organisation. These include strengthening institutional frameworks, enhancing investment flows, promoting innovation, supporting sustainable development and improving infrastructure. He said Egypt will also focus on capacity-building and knowledge exchange.
The Minister stressed the importance of supporting small and medium-sized enterprises, empowering young people and advancing food security initiatives. Planned projects include a Regional Seed Bank and a study into the creation of a strategic reserve for essential commodities.
He added that increasing cooperation will require more trade forums and business delegations to encourage private sector engagement and unlock new investment opportunities.
El-Khatib concluded by reaffirming Egypt’s commitment to joint action within the D-8 and praised the organisation’s contribution to strengthening economic and trade ties across member states.
