By: Abba Onyekachukwu, Abuja.
Through the Federal Ministry of Industry, Trade and Investment (FMITI), the Federal Government (FG) has successfully hosted the 8th Session of the Supervisory Committee of the D-8 Preferential Trade Agreement (SC PTA) in Abuja. According to a press statement from Dr Thomas Adebayo the Director Press and Public Relations FMITI on Monday, the meeting, officially opened by Minister Dr. Jumoke Oduwole, brought together distinguished representatives from D-8 Member States to advance intra-D-8 trade, foster industrial growth, and deepen regional economic cooperation.
Dr. Oduwole reaffirmed Nigeria’s commitment to the D-8 Organization’s goals, emphasizing that the PTA is a symbol of the collective ambition of Member States to unlock trade potential, drive industrial expansion, and promote inclusive economic prosperity. She urged delegates to move beyond procedural conversations and take concrete actions to fast-track tariff concessions, enhance private sector engagement, strengthen technical cooperation, and promote digital trade and investment facilitation.
The meeting highlighted several key developments, including: Indonesia and Pakistan implementing the D-8 PTA in 2024 and 2025, joining Türkiye in operationalizing the Agreement; The signing of the Dispute Settlement Mechanism (DSM) Protocol, providing a structured approach to trade conflict resolution; Egypt’s anticipated ratification of the PTA, expected to bolster regional trade efforts and; The admission of Azerbaijan as the 9th D-8 Member State, expanding market opportunities
Ambassador Isiaka Abdulqadir Imam, Secretary-General of the D-8 Organization, stressed the importance of leveraging the PTA as a shield against external economic shocks. He proposed key reforms to strengthen the Agreement, including digitalization of trade procedures, simplification of rules of origin, trade monitoring mechanisms, and institutionalized public-private dialogue.
A major highlight of the session was the announcement of the D-8 SME Center, spearheaded by Nigeria’s Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The initiative, scheduled to launch on June 17, 2025, aims to empower small and medium enterprises across D-8 nations, expanding their participation in cross-border trade and reinforcing the PTA’s long-term objectives.
The 8th SC PTA session concluded with strong commitments from Member States to accelerate trade facilitation efforts, strengthen cooperation, and explore innovative solutions for boosting intra-D-8 commerce. Dr. Jumoke Oduwole MFR called for concrete action, urging delegates to prioritize youth and women in trade, build inclusive economies, and ensure that the Supervisory Committee’s work translates into tangible economic opportunities.
