President Abdel Fattah El-Sisi has concluded the 11th Summit of the Developing Eight (D-8) Organization for Economic Cooperation in Cairo, a significant event that brought together leaders from member countries to address key issues facing the developing world. The summit, held under the theme “Investing in Youth and Supporting Small and Medium Enterprises (SMEs): Shaping Tomorrow’s Economy,” focused on the critical role of youth, the development of SMEs, and the urgent need for regional stability.
Youth at the Forefront of Economic Future
El-Sisi, who assumed the presidency of the D-8 from Bangladesh, underscored the importance of empowering the region’s youth, stressing that they are the future of regional economies. In his opening remarks, he stated, “The youth represent the future of our economies, and it is essential that we provide them with the tools to thrive.” The summit also explored the vital need for investment in education, innovation, and entrepreneurship to harness the untapped potential of the young populations across D-8 nations.
Geopolitical Crises in the Spotlight
While the economic discussions were central to the summit, geopolitical tensions in the region also dominated the agenda. President El-Sisi addressed the escalating conflict in Gaza, which has claimed over 45,000 lives and left millions displaced. He warned of the far-reaching implications of continued instability and called for international intervention to prevent further escalation. “We cannot afford to ignore the suffering in Gaza,” El-Sisi declared.
A special session was dedicated to the ongoing crises in Palestine and Lebanon, where El-Sisi reiterated Egypt’s unwavering support for a two-state solution to the Israeli-Palestinian conflict. He also called for international efforts to restore Lebanon’s sovereignty in light of the ongoing Israeli military actions that have displaced over a million people and claimed thousands of lives.
Economic Challenges and Collective Action
As part of efforts to address regional economic difficulties, El-Sisi urged D-8 countries to unite in tackling funding shortages, rising debt, and youth unemployment. He emphasized the necessity of collaboration among member states to create sustainable economic opportunities and foster resilience. “We must work together to overcome these shared challenges and ensure lasting prosperity for our people,” he said.
Strengthening D-8 Cooperation
In a bid to bolster intra-D-8 ties, President El-Sisi announced the launch of several key initiatives, including the creation of a Diplomatic Leadership Network designed to facilitate diplomatic cooperation among D-8 countries. An online educational competition focused on science and technology will also be held for pre-university students, aiming to inspire innovation across the region. Additionally, the establishment of an Economic Think Tank Network was unveiled, providing a platform for think tanks to collaborate on boosting trade and regional development.
El-Sisi further highlighted Egypt’s upcoming role in hosting the first-ever D-8 Health Ministers’ meeting in 2025, focused on addressing pressing healthcare challenges. The Egyptian president also reaffirmed Egypt’s plan to ratify the D-8 Preferential Trade Agreement to enhance trade relations among member states.
SMEs and Social Welfare Initiatives
The summit also spotlighted the role of small and medium enterprises (SMEs) in driving economic growth. El-Sisi highlighted Egypt’s domestic initiatives, such as the Hayah Karima (Decent Life) program and the Takaful and Karama (Solidarity and Dignity) project, which have improved infrastructure and social welfare for marginalized communities. “Supporting SMEs is key to creating jobs and ensuring long-term economic stability,” he noted.
A Unified Vision for the Future
As the summit concluded, El-Sisi reiterated Egypt’s commitment to advancing the goals of the D-8, emphasizing that despite the region’s challenges, unity and collective action will pave the way for a prosperous future. “Through unity, we can overcome the crises we face today and build a brighter tomorrow for our people,” he affirmed.
Held in Egypt’s New Administrative Capital, the 11th D-8 Summit set the stage for a new era of collaboration among developing nations, with a strong emphasis on youth empowerment, economic development through SMEs, and the pursuit of regional stability.