Minister Jam Kamal advocates for enhanced engagement among D-8 nations.

On Tuesday, Federal Minister for Commerce Jam Kamal Khan reiterated Pakistan’s dedication to enhancing economic cooperation among Developing-8 (D-8) nations, advocating for intensified engagement to address emerging global concerns.

During the 4th meeting of the D-8 Trade Ministerial Council in Cairo, the minister expressed gratitude to the Government of Egypt for hosting the session and acknowledged Azerbaijan as the group’s ninth member, emphasising that its inclusion will bolster collective economic strength and cooperation.

Kamal Khan stated that the D-8 has evolved into a crucial platform for nations possessing substantial economic potential and common developmental objectives. He emphasised that in an age characterised by increasing protectionism, climate-induced disruptions, supply chain ambiguities, and fluctuating commodity markets, regional alliances are crucial for maintaining stability and fostering sustained growth.

He emphasised the D-8 Preferential commerce Agreement (PTA) as a crucial mechanism for enhancing intra-bloc commerce, advocating for its comprehensive and successful execution. “By lowering tariffs, streamlining procedures, and establishing a stable trading environment, the PTA can greatly enhance market access,” he stated, noting that Pakistan was dedicated to addressing operational challenges and standardising documentation to ensure the agreement’s full functionality.

The minister underscored the necessity for enhanced institutional frameworks, encompassing customs collaboration, standardisation, mutual recognition, and logistical connection. He emphasised that efficient transport corridors and digital technologies are essential for seamless regional trade.

The trade minister emphasised the pivotal role of the private sector in facilitating economic integration, advocating for enhanced business-to-business collaboration, joint ventures, and technological partnerships across member states.

He also emphasised prospects in sustainable development, food security, energy, agriculture, and textiles, asserting that the D-8 could exemplify South-South collaboration.

Concerning the expanding global economy, he emphasised the necessity of adopting digital transformation, encompassing e-commerce, fintech, and digital payments. Pakistan expressed a strong interest in collaborating to enhance digital infrastructure and innovation networks throughout the bloc.

He stated, “A more interconnected D-8 community can substantially bolster economic resilience and regional stability,” expressing optimism that the discussions in Cairo will contribute to a more cohesive and prosperous future for member states.