ISLAMABAD: Minister for Commerce Jam Kamal Khan has called for deeper cooperation among D-8 countries, including a Preferential Trade Agreement (PTA), describing it as a key driver for expanding D-8 intra-trade.
Delivering his statement at the Fourth Meeting of the D-8 Trade Ministers Council in Cairo, he urged member states to strengthen regional economic collaboration, operationalise the PTA, and seize emerging opportunities in digital trade and sustainable development.
During the session, the Federal Minister for Commerce also signed the D-8 Protocol on Dispute Settlement Mechanism — an important step toward the institutional strengthening of the organisation. The signing of the protocol, alongside the operationalisation of the PTA, is expected to enhance trade, ease economic engagement, and support the D-8’s long-term vision of a more integrated economic bloc.
He thanked the Government of Egypt and Minister of Investment & Foreign Trade Hassan El Khatib for hosting the gathering with generous hospitality. He also welcomed Azerbaijan as the newest and ninth member of the D-8, expressing optimism that its inclusion would strengthen the organisation’s collective economic capacity.
Highlighting the rapidly shifting global economic landscape, Jam Kamal Khan underscored the need for regional platforms like the D-8 to respond collectively to rising protectionism, supply chain disruptions, climate-related shocks, and commodity market volatility. Stronger cooperation, he emphasised, is essential to maintain resilience, sustain trade flows, and bolster market confidence.
The Minister reiterated the central importance of the D-8 Preferential Trade Agreement as a catalyst for expanding intra-D8 trade, calling its effective implementation “essential for realising its full benefits.” He reaffirmed Pakistan’s commitment to harmonising procedures, resolving operational issues, and streamlining documentation to make the PTA fully functional and beneficial for all members.
He further stressed the need for stronger institutional linkages in customs, standardisation, mutual recognition, and logistics connectivity. Efficient transport corridors, digital integration, and predictable transit systems, he noted, are critical to unlocking regional trade potential—areas where Pakistan stands ready to contribute constructively.
Jam Kamal also placed strong emphasis on private-sector engagement, encouraging deeper B2B cooperation, joint ventures, technology exchange, and sector-specific partnerships among D-8 economies. He highlighted the need for an enabling environment supported by policy stability, access to information, and financial facilitation.
On sustainable development, the minister said economic progress must be aligned with environmental responsibility and social inclusion. He identified food security, textiles, agriculture, energy, and technological innovation as priority sectors for collaboration to build resilience and drive long-term prosperity.
The D-8, he noted, has the potential—through capacity-building and best-practice sharing—to become a model for South-South cooperation.
Recognising the rapid rise of digital trade and technology-driven services, he urged member states to invest in digital infrastructure, digital literacy, and cross-border e-commerce platforms. Pakistan, he added, is ready to work with D-8 partners on fintech, digital payments, and innovation-led initiatives.
Concluding his remarks, the Minister expressed confidence that the Council’s deliberations would be constructive and forward-looking. He reaffirmed Pakistan’s full commitment to advancing the D-8 agenda for shared prosperity and regional integration.
Copyright Business Recorder, 2025