By Joy Onu
Nigeria has called for stronger economic cooperation among member countries of the Developing-8 Organization for Economic Cooperation (D-8) as efforts intensify to transform the bloc into a major global economic force with a trade target of $500 billion by 2030.
The call was made in Abuja during the 9th Session of the Supervisory Committee of the D-8 Preferential Trade Agreement (SCPTA), hosted by Nigeria to advance trade cooperation and deepen economic integration among member states.
Speaking at the opening session, the former Permanent Secretary of the Federal Ministry of Industry, Trade and Investment and Chairman of the Supervisory Committee, Nura Abba Rimi, welcomed delegates and commended the leadership of the D-8 Secretariat.
He also congratulated the Secretary-General of the organisation, Sohail Mahmood, on his appointment and acknowledged the accession of Azerbaijan into the bloc, describing it as a development that would further strengthen regional trade and economic cooperation.
Rimi stressed that the Supervisory Committee plays a critical role in overseeing the implementation of the Preferential Trade Agreement (PTA) and guiding the decisions of trade ministers across member states.
He noted that despite progress recorded so far, the current level of intra-D-8 trade remains modest at about seven per cent, valued at $146 billion in 2024. According to him, stronger collaboration and more ambitious policy actions would be required for the bloc to achieve its $500 billion trade target by 2030.
“We must move beyond incremental progress and embrace bold, results-driven actions that will unlock the full economic potential of our bloc,” he said.
Also speaking, the D-8 Secretary-General, Mahmood, highlighted the importance of aligning technical work with upcoming ministerial engagements, particularly the 2026 ministerial meeting scheduled to take place in Indonesia.
He noted that analytical studies supporting the development of the PTA were progressing and emphasized the need to strengthen institutional capacity across member states.
Mahmood further stressed the importance of promoting the participation of small and medium-scale enterprises, encouraging private sector involvement, improving trade facilitation, strengthening customs cooperation, and promoting data-driven decision-making within the bloc.
“Our collective progress depends on how effectively we translate technical work into tangible economic outcomes for our member states,” he said.
During the meeting, member states reaffirmed their commitment to expanding trade and strengthening the PTA framework.
Delegations from Pakistan, Bangladesh, Malaysia, Indonesia, and Türkiye emphasized the need to reduce trade barriers, expand product coverage, and deepen market access among D-8 economies.
Pakistan called for renewed commitment to expanding the PTA to include high-potential goods, while Bangladesh described the agreement as a practical pathway toward shared prosperity. Indonesia raised concerns about low utilisation levels and uneven implementation among member states, calling for improved coordination and faster domestic processes.
Malaysia, on its part, pointed to the bloc’s large market potential and stressed the need to align the PTA with evolving global economic realities to achieve concrete commercial outcomes.
Nigeria reiterated its commitment to strengthening D-8 economic cooperation and supporting the transition of the PTA into a Comprehensive Economic Partnership Agreement (CEPA). The country highlighted priority sectors including manufacturing, agriculture, energy, and services, as well as initiatives aimed at empowering micro, small and medium enterprises through digital trade and e-commerce.
Türkiye also called for deeper economic cooperation within the bloc, stressing the importance of resilience in the face of global geopolitical tensions and the need to remove trade barriers to unlock growth opportunities.
In his closing remarks, the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Chris Osa Isokpunwu, commended the D-8 Secretariat and member states for their participation and commitment to advancing economic cooperation.
“As Chair and host, I commend the D-8 Secretariat for the excellent coordination of this meeting. The outcomes of our deliberations reflect our shared resolve to strengthen economic cooperation,” he said.
He urged member states to sustain collaboration and focus on implementing practical solutions that would drive industrial growth and inclusive prosperity across the bloc.
The meeting ended with a renewed commitment by participating countries to deepen cooperation, improve trade facilitation, and accelerate progress toward achieving the D-8’s long-term trade objectives.
