ISLAMABAD: Reaffirming its commitment to strengthening small and medium enterprises (SMEs) as engines of sustainable growth at the D-8 ministerial level conference, Pakistan on Wednesday invited investors to invest in the SMEs sector, which presents immense potential for investment and trade development.
This was stated by Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, while addressing the first virtual meeting of the D-8 countries on SMEs.
He said that Pakistan’s SMEs sector consisted of diverse industries like textiles, apparel, leather, sports goods, surgical instruments, information technology, light engineering, agro-based products, and food processing, which offer significant opportunities for joint ventures, technology transfer, and value chain integration.
Besides the representatives from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye the virtual meeting was also attended by the Federal Secretary of Industries and Production, Saif Anjum, and the CEO of Small and Medium Enterprises Development Authority (SMEDA), Suqrat Aman.
Haroon Akhtar Khan emphasized that the government of Pakistan is committed to transforming SMEs into engines of sustainable growth and drivers of an inclusive industrial revolution. He highlighted that SMEs contribute nearly 40 percent of GDP in developing economies, and their strengthening is essential for job creation, innovation, and poverty reduction.
Pakistan, through SMEDA/ MoIP, stands ready to actualize this agreement, as Pakistan wanted to make D-8 SMEs globally competitive and regionally integrated through joint programs and initiatives, the SAPM said. Khan added, “SMEs are the backbone of our economy and the foundation for regional economic integration. Pakistan’s SMEs, particularly in textiles, surgical goods, IT, and sports sectors, are globally recognized, and we are determined to enhance their competitiveness.”
“Limited financing, technology gaps, and market access remain key challenges. Through collective efforts, we can convert these barriers into opportunities. Pakistan is committed to aligning its SME policies with international standards, ensuring inclusivity, and engaging all stakeholders in the process.”
Secretary Industries and Production, Saif Anjum, underlined that the D-8 cooperation framework provides member states with the platform to participate in global value chains, paving the way for stronger regional collaboration and industrial growth.
The eighth meeting reaffirmed the role of SMEs in achieving the Sustainable Development Goals (SDGs) and agreed to enhance financing access, digital transformation, and environmentally friendly practices, and youth and women empowerment within member states.
Pakistan remains steadfast in its resolve to advance regional economic diplomacy and promote SMEs as the central pillar of development and global competitiveness.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.