Egyptian President , Abdel-Fattah Al-Sisi, formally inaugurated the 11th D-8 Summit in Cairo, bringing together the leaders of the Organization of Eight Developing Countries (D-8) at the New Administrative Capital. El-Sisi delivered opining remarks focusing on economic cooperation and regional crises. The summit, under Egypt’s leadership, will focus on advancing economic collaboration among member states and address critical regional issues, with a special session dedicated to the ongoing crises in Lebanon and Palestine.
Having assumed the D-8 presidency in May 2024, Egypt succeeded Bangladesh and will hold the leadership until the end of 2025. At this year’s summit, Indonesia will assume the presidency for the 2026-2027 term.
Founded in 1997, the D-8 is an influential economic bloc, collectively representing a population of over one billion people and a combined GDP of approximately $5 trillion. The organization’s primary objectives are to strengthen its members’ positions in the global economy through enhanced economic cooperation, trade diversification, increased international participation, and improvements in living standards.
Strengthening Economic Ties
Ahead of the summit, Egypt chaired the 48th Session of the D-8 Commission in Cairo, where member states discussed strategies to deepen economic cooperation across various sectors. On Wednesday, Egypt presented the outcomes of these discussions to the D-8 21st Council of Ministers meeting, which was also chaired by Egypt’s Minister of Foreign Affairs, Badr Abdelatty.
Minister Abdelatty emphasized the summit’s importance amid the ongoing global economic challenges and regional instability, particularly the humanitarian crisis in Gaza and the escalating tensions in Syria and Lebanon. He also outlined Egypt’s initiative to convene a special session on Palestine and Lebanon during the summit’s proceedings.
Trade and Investment Dynamics
Trade between Egypt and the D-8 countries declined in 2024, with total trade exchanges reaching $5.9 billion during the first eight months, a decrease from $6.6 billion in 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Egypt’s exports to D-8 nations amounted to $2.4 billion, while imports totaled $3.5 billion. Turkey was the largest importer of Egyptian goods, with exports valued at $2 billion, followed by Nigeria, Indonesia, and other member states.
Foreign direct investment (FDI) from D-8 countries into Egypt increased by 6.2% in fiscal year 2022/2023, reaching $200.4 million, up from $188.7 million in the previous year. Turkey led D-8 investments in Egypt, contributing $167.2 million, followed by Malaysia at $24 million.
As Egypt continues its leadership role within the D-8, the country is positioning itself as a key driver of economic integration and cooperation among emerging market economies. Through strategic partnerships and a focus on diversification, Egypt aims to foster a more resilient and interconnected economic landscape within the D-8 group.
