D-8 Represents $1.3 Trillion Economy: Malaysian Minister at Cairo Summit

The Developing Eight (D-8) member states represent 15% of the world’s population and possess a combined economy valued at $1.3 trillion, according to Malaysian Higher Education Minister Zambry Abdul Kadir, who spoke at the organisation’s 11th summit in Cairo on Thursday. The D-8 countries include Egypt, Bangladesh, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

Abdul Kadir emphasised the economic significance of the D-8, noting the organisation’s focus on improving the economic conditions of its member countries. He stressed the necessity of mobilising resources and supporting emerging markets. He also called for an enhancement of the economic status of the D-8’s developing member states.

The Malaysian representative urged a reassessment of trade exchange levels among member states, highlighting that small and medium-sized enterprises (SMEs) form the backbone of the economy. He further noted the importance of the green economy, which he stated presents unprecedented opportunities that should be fully utilised. He added that equipping young people with the skills required to adapt to modern advancements is also a necessity.

In addition to economic matters, Abdul Kadir also condemned the actions of Israeli forces in the Gaza Strip, stating that these actions have resulted in hundreds of thousands of casualties, including deaths and injuries.

Heads of state and leaders from the eight member countries arrived at the summit venue. Egypt is presiding over the current summit, having assumed the chairmanship of the group last May. Its leadership will continue through the end of next year. The Egyptian State Information Service website notes that the summit is themed “Investing in Youth and Supporting Small and Medium Enterprises – Shaping the Economy of Tomorrow,” and is set to address means of confronting successive global economic and political changes.

Several summits and bilateral meetings are scheduled to take place on the sidelines of the D-8 summit in Cairo, involving heads of state and participating delegations.

The D-8, also known as the Developing Eight, is a development cooperation organisation which aims to strengthen economic relations and social bonds among its members. It was established to foster collaboration between developing nations.