CAIRO - 19 December 2024: President Abdel Fattah El-Sisi inaugurated the 11th Summit of the Developing Eight (D-8) Organization for Economic Cooperation in Egypt’s New Administrative Capital. The summit, held under the theme “Investing in Youth and Supporting Small and Medium Enterprises: Shaping the Economy of Tomorrow,” gathered leaders from D-8 member states, developing countries, and international organizations to address global challenges and strengthen economic collaboration.
In his opening speech, El-Sisi emphasized the importance of youth as the foundation of economic progress and called for unified action to achieve sustainable development.
“I welcome you all to Egypt, particularly to the New Administrative Capital, a symbol of cultural, developmental, and economic progress,” said El-Sisi. “Today’s summit focuses on investing in youth, the main pillar of our member countries in the present and future."
During the opening session, El-Sisi assumed the presidency of the D-8, taking over from Bangladesh. He praised Bangladesh’s leadership and acknowledged the efforts of D-8 Secretary-General Izziaka Abdul Qadir Imam in organizing the summit.
El-Sisi urged member states to work together to overcome shared challenges, including funding shortages, technological divides, poverty, and unemployment. He also pointed to ongoing conflicts in the Middle East, such as the Israeli-Palestinian crisis and instability in Lebanon and Syria, as issues requiring collective action.
“The challenges we face require us to work together to overcome obstacles and build a brighter future for our nations,” El-Sisi said.
As part of Egypt’s D-8 presidency, El-Sisi announced a set of initiatives aimed at fostering collaboration, innovation, and sustainable development:
• Diplomatic Leadership Network: Establishing a network for directors of diplomatic institutes to build capacity and address global challenges.
• Educational Competition: Launching an electronic competition for pre-university students to promote innovation in science, engineering, and applied technology.
• Economic Think Tank Network: Creating a platform for D-8 think tanks to exchange ideas and strategies to boost trade and investment.
• Health Sector Meetings: Introducing periodic meetings for health ministers, with Egypt hosting the first session in 2025 to explore advancements in healthcare technologies.
El-Sisi also announced Egypt’s intention to ratify the D-8 Preferential Trade Agreement, highlighting the importance of enhancing trade within the organization to drive economic growth.
El-Sisi called for solidarity in tackling regional crises, particularly the Israeli-Palestinian conflict and escalating tensions in Lebanon and Syria. He announced a special session during the summit to discuss the situations in Palestine and Lebanon.
“These conflicts not only threaten regional stability but also have significant political and economic repercussions that affect us all,” El-Sisi said.
The Egyptian President emphasized the importance of small and medium enterprises (SMEs) in driving economic development. He highlighted Egypt’s readiness to share successful initiatives, including the “Hayah Karima” and “Takaful and Karama” programs, which have improved infrastructure and social welfare in the country.
“We seek to support and develop small and medium enterprises within the framework of achieving sustainable development goals,” El-Sisi said.
Concluding his remarks, El-Sisi urged member states to collaborate and achieve the summit’s goals of prosperity and development:
“I wish you all success in your discussions and deliberations. Together, we can create opportunities that meet the aspirations of our peoples for a brighter future.”
The 11th D-8 Summit marked a major step in boosting economic cooperation and addressing the shared challenges of developing nations, with a focus on youth empowerment, trade, and sustainable growth.
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