The 11th D-8 Summit convened in Cairo on December 19, 2024, bringing together leaders from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. Under the theme “Investing in Youth and Supporting Small and Medium Enterprises: Shaping Tomorrow’s Economy,” the summit focused on enhancing economic cooperation among member states.
Egypt Assumes D-8 Chairmanship
President Abdel Fattah Al-Sisi inaugurated the summit, officially assuming Egypt’s chairmanship of the D-8 Organization for Economic Cooperation. In his address, he emphasized the necessity for strengthened collaboration among developing countries to tackle global challenges, highlighting sectors such as communications, information technology, digital economy, artificial intelligence, agriculture, manufacturing, and renewable energy.
Cairo Declaration: A Roadmap for Cooperation
A significant outcome of the summit was the adoption of the Cairo Declaration, which sets ambitious goals for the D-8. The declaration underscores commitments to enhance partnerships in priority sectors, including agriculture, food security, energy, science and technology, industry, and the development of small and medium-sized enterprises. It also emphasizes the implementation of the D-8 Decennial Roadmap for 2020-2030, aiming to deepen economic cooperation and ensure sustainable development.
Key Discussions and Themes
Under the theme “Investing in Youth and Supporting Small and Medium Enterprises: Towards Shaping Our Future,” the summit focused on several pivotal areas:
Youth Empowerment and SMEs: President El-Sisi emphasized the critical role of youth and small and medium-sized enterprises (SMEs) in driving socio-economic growth. He announced initiatives aimed at enhancing youth participation in economic activities and bolstering support for SMEs across member states.
Economic Cooperation: Indonesian President Prabowo Subianto highlighted the collective economic potential of D-8 nations, noting that together they represent the world’s third-largest economic bloc. He advocated for the establishment of robust and inclusive supply chains and stressed the importance of economic self-sufficiency to strengthen solidarity among Muslim-majority countries.
Support for Palestine: A unified stance in support of the Palestinian people was affirmed, reflecting the organization’s commitment to solidarity among Muslim-majority nations. Leaders underscored the necessity of leveraging their collective economic influence to advocate for and support Palestinian rights.
Economic Integration and Trade Enhancement
Discussions at the summit highlighted the importance of economic integration among member states. President Al-Sisi announced Egypt’s intention to ratify the D-8 preferential trade agreement, aiming to boost trade among member nations. The D-8 countries collectively represent a substantial market, encompassing more than one billion people and a combined GDP of approximately $5 trillion.
Addressing Regional Challenges
The summit also addressed pressing regional challenges. President Al-Sisi highlighted the “unprecedented challenges and crises” facing the Middle East, citing ongoing conflicts and wars, and emphasized the necessity for collective efforts to address these issues.
Notable Attendees and Bilateral Engagements
The summit witnessed the participation of key leaders, including:
Iranian President Masoud Pezeshkian: Marking the first visit by an Iranian president to Egypt in over a decade, President Pezeshkian’s attendance signified a thaw in relations between the two nations. On the sidelines, discussions on regional and bilateral issues were anticipated.
Turkish President Recep Tayyip Erdoğan: His presence underscored Turkey’s active role in the organization and its commitment to enhancing economic cooperation among member states.
Bangladesh’s Interim Leader Muhammad Yunus; Addressing the summit, Yunus emphasized the importance of collaborative efforts in achieving sustainable development goals within the D-8 framework.
Commitment to Sustainable Development
The Cairo Declaration reaffirmed the D-8’s commitment to sustainable development, emphasizing the importance of implementing the D-8 Decennial Roadmap for 2020-2030. This roadmap seeks to deepen economic cooperation and ensure sustainable development in line with global goals.
Outcomes and Future Directions
A significant outcome of the summit was the endorsement of membership expansion, with Azerbaijan being admitted as the ninth member of the D-8 organization. This move is expected to enhance the organization’s economic and geopolitical influence.
Additionally, it was announced that Indonesia would host the next D-8 Summit in 2025, reflecting the rotational nature of the organization’s leadership and the commitment of member states to active participation.
The 11th D-8 Summit in Cairo served as a pivotal platform for member countries to deliberate on enhancing economic cooperation, empowering youth, supporting SMEs, and addressing pressing regional issues. The resolutions and discussions from this summit are poised to shape the strategic direction of the D-8 organization in the coming years, fostering deeper collaboration and development among member states.
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