D-8 chief calls for stronger private sector role in trade
15:40, 28/07/2026, TuesdayU: Update: 15:45, 28/07/2026, Tuesday
Yeni Şafak
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The Developing-8 Organization's Secretary-General has called on chambers of commerce and private businesses to take the lead in expanding trade among member states, setting a $500 billion target by 2030. Speaking at an Islamabad dialogue, he pointed to Istanbul's new role hosting the D-8 chamber secretariat in partnership with Türkiye's TOBB as a milestone for regional economic integration.
Ambassador Sohail Mahmood, Secretary-General of the Developing-8 Organization for Economic Cooperation (D-8), has urged closer cooperation between national governments and chambers of commerce, describing the private sector as the driving force behind the bloc's goal of reaching $500 billion in intra-D-8 trade by 2030. His remarks, delivered via video message, came during a hybrid dialogue in Islamabad that drew diplomats, business leaders, and officials from across the D-8's member states.
Trade architecture and Istanbul's new role
Organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the session focused on expanding trade and investment ties, strengthening banking links between member economies, and accelerating the rollout of the D-8 Preferential Trade Agreement (PTA). Mahmood noted that the bloc, representing close to 1.3 billion people and a combined GDP above $5 trillion, currently records around $160 billion in trade among its members, a figure far short of the 2030 target set out in the D-8 Decennial Roadmap. He singled out the decision to establish the Permanent Secretariat of the D-8 Chamber of Commerce and Industry in Istanbul, developed jointly with Türkiye's Union of Chambers and Commodity Exchanges (TOBB), as a landmark step for the bloc's institutional development.
Calls for faster implementation
Mahmood also welcomed Egypt's ratification of the D-8 PTA and Pakistan's move to bring the agreement into force, calling on chambers of commerce to convert these trade frameworks into concrete business partnerships. FPCCI President Atif Ikram Sheikh echoed the call for faster implementation, proposing a dedicated D-8 chamber expo, regular virtual meetings among member chambers, a joint digital platform for business networking, and simplified visa rules for traders and investors travelling within the bloc.
Private sector readiness
FPCCI Senior Vice President Saquib Fayyaz Magoon, who chaired the session, said the private sector stood ready to lead the bloc's economic integration drive. Participants at the dialogue backed expanded business-to-business engagement, more frequent trade fairs and investment forums, and stronger coordination among chambers of commerce to support small and medium-sized enterprises across D-8 economies. The Secretariat said it would continue working with member states and business associations to advance the roadmap, citing customs cooperation, digital integration, and predictable cross-border systems as key remaining priorities.