NIGERIA LEADS D-8 PUSH TO TRANSFORM BLOC INTO GLOBAL ECONOMIC POWERHOUSE

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Nigeria recently hosted the 9th Session of the Supervisory Committee of the D-8 Preferential Trade Agreement (9th SCPTA), bringing together member states in Abuja to advance a bold agenda aimed at strengthening trade cooperation and accelerating economic integration across the bloc.


In his opening remarks, the former Permanent Secretary , Federal Ministry of Industry Trade and Investment  and Chairman of the Supervisory Committee, Amb. Nura Abba Rimi, welcomed delegates and commended the D-8 Secretariat for its leadership while congratulating Amb. Sohail Mahmood on his appointment as Secretary-General. He also acknowledged Azerbaijan’s accession into the D-8, describing it as a step that would further strengthen regional trade and economic cooperation.

Amb. Rimi emphasized the critical oversight role of the Supervisory Committee in implementing the Preferential Trade Agreement (PTA) and guiding Trade Ministers. Reflecting on previous outcomes, he stressed the urgency of expanding the PTA, noting its limited impact on intra-bloc trade, and advocated for its transition into a Comprehensive Economic Partnership Agreement (CEPA) to deepen integration. He raised concerns over the current intra-D-8 trade level of about 7 percent, valued at $146 billion in 2024, and called for stronger collaboration to meet the $500 billion 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 stated»

The D-8 Secretary-General, Amb. Sohail Mahmood, highlighted the importance of aligning technical efforts with upcoming ministerial engagements, particularly the 2026 meeting in Indonesia, while noting progress made in analytical studies supporting the PTA’s development. He underscored the need to strengthen institutional capacity, promote SME inclusion, and deepen private sector engagement, alongside improvements in trade facilitation, customs cooperation, and data-driven decision-making.

Our collective progress depends on how effectively we translate technical work into tangible economic outcomes for our member states,” he said.»

Member states reaffirmed their commitment to strengthening intra-D-8 trade and enhancing the PTA’s effectiveness. Azerbaijan emphasized reducing trade barriers and improving market access, while Pakistan called for renewed commitment and expansion of the PTA to include high-potential goods, highlighting progress such as the Dispute Settlement Protocol signed in December 2024.

Bangladesh described the PTA as a practical pathway to shared prosperity, stressing the need for broader product coverage and stronger private sector participation. Indonesia reaffirmed its commitment to implementation but raised concerns about low utilization and uneven progress, calling for better coordination and faster domestic processes. Malaysia pointed to the bloc’s vast market size and the need to align the PTA with current global economic realities to achieve tangible commercial outcomes.

Nigeria reiterated its strong commitment to D-8 economic cooperation and support for transforming the PTA into a comprehensive economic partnership, highlighting priority sectors such as manufacturing, agriculture, energy, and services, alongside efforts to empower MSMEs through digital trade and e-commerce.

Türkiye emphasized the need for resilience amid global geopolitical tensions, calling for deeper cooperation, removal of trade barriers, and stronger private sector engagement.

In his closing remarks, the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Dr. Chris  Osa Isokpunwu, expressed appreciation to the D-8 Secretariat and member states for their active participation and commitment.

«“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 stated

He urged member states to sustain collaboration and focus on implementing practical solutions that will drive industrial growth and inclusive prosperity, while also calling for the resolution of outstanding issues to fully realize the benefits of the PTA.

The session concluded with a renewed commitment by all member states to deepen cooperation, enhance trade facilitation, and accelerate progress toward achieving the D-8’s ambitious trade targets.

 

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