Egypt to assume presidency of Developing-8 this month

MENA , Ahram Online , Saturday 18 May 2024

Egypt is set to assume the presidency of the Developing-8 Organization for Economic Cooperation from Bangladesh in May, the country’s Ministry of Foreign Affairs announced on Thursday.


Egypt's tenure as the group's president will extend until the end of 2025.

Egypt’s priorities during its presidency will include empowering women and youth through initiatives involving small and medium-sized enterprises (SMEs), the country’s commissioner to the organization ambassador Ragi Al-Etreby.

Additionally, Egypt aims to leverage communication and information technology to bolster development and trade, Al-Etreby added.

Egypt's presidency also plans to foster collaboration among member states and establish a network for diplomatic training institutes and another for economic research centres, he added. 

Furthermore, the country will champion the organization's efforts to establish a centre for SMEs and a fund specifically designed to finance projects per sustainability standards, he pointed out.

Promoting cooperation in sustainable tourism is another key objective, according to Al-Etreby. 

Egypt will also work towards activating the initiative to establish a seed bank, a move that will significantly contribute to advancements in sustainable agriculture, he noted.

The D-8, formally known as the Developing-8, is an economic cooperation organization uniting eight populous Muslim-majority countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

Established on 15 June 1997 in Istanbul, Turkey, the D-8 aims to improve the economic position of its member states, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better living standards.

The organization focuses on trade, agriculture, industry, and energy, working collaboratively to foster sustainable development and economic growth among its members.

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