LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) of the Ministry of Industries and Production successfully hosted the First Virtual Session and the 8th Meeting of the D-8 SME Governmental Bodies Wednesday.
Representatives from Azerbaijan, Bangladesh, Indonesia, Malaysia, Nigeria, Pakistan, and Türkiye participated in the high-level forum.
The virtual session was also addressed by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production, H.E. Ambassador Isiaka Abdulqadir Imam, Secretary-General of the D-8 Organization for Economic Cooperation and Socrat Aman Rana, Chief Executive Officer of SMEDA, who moderated the meeting as the host.
The representatives of the nine above mentioned member-states attended the virtual meeting and gave presentation on SME development measures of the respective governments.
In his address, Haroon Akhtar Khan said that under the vision of Prime Minister Muhammad Shehbaz Sharif, Pakistan is committed to transforming SMEs into engines of sustainable growth and drivers of a comprehensive industrial revolution. He emphasized that SMEs contribute about 40 percent of GDP in developing economies, and their strength is essential for job creation, innovation and poverty reduction.
“SMEs are the backbone of our economy and the foundation of regional economic integration, he said adding that Pakistan’s SMEs, especially in the textile, surgical, IT and sports sectors, light engineering, agro-based products, and food processing are globally recognized, and we are committed to enhancing their competitiveness.”
He informed that the government of Pakistan under the leadership of Prime Minister was working hard to meet the challenges in “Lack of financial resources, technology gaps and market access for SMEs. “We are committed to aligning its SME policies with global standards, ensuring inclusiveness and involving all stakeholders.” he said.
Secretary Industries and Production, Saif Anjum emphasized that the D-8 cooperation framework provides a platform for member countries to join the global value chain, which will open new avenues for regional cooperation and industrial development.
He said that Pakistan remains committed to advancing economic diplomacy in the region and making SMEs a central pillar of growth and global competitiveness. He appreciated that the eighth meeting of D-8 SME governmental bodies has identified the role of SMEs as key in achieving the Sustainable Development Goals (SDGs), focusing more on access to financing, digital transformation, green initiatives, and empowerment of youth and women. Through the D-8 SME collaboration agreement, we aim to promote B2B connections, build partnerships, share knowledge, and support sustainable and green development.
Socrat Aman Rana, CEO SMEDA, moderating the session as host of the meeting, welcomed the delegates and highlighted the significance of SMEs for D-8 Member states.
He said, “SMEs are the backbone of our economies—representing over 90% of businesses globally, contributing more than 50% of employment, and nearly 40% of GDP in emerging markets like ours. By 2030, SMEs are projected to generate more than 70% of new jobs,” he said and hoped that new D-8 SME Cooperation Framework would strengthen internationalization, global value chain integration, and international market development. “Together, our nine nations representing a market of over 1.3 billion people have the potential of raising collective trade volume up to 2 Trillion US dollar, he said.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.