Egyptian Pres. Inaugurates The 11Th D-8 Economic Coop. Summit

12/19/2024 9:07:19 AM

(MENAFN- Kuwait News Agency (KUNA)) CAIRO, Dec 19 (KUNA) -- Egyptian President Abdelfattah Al-Sisi inaugurated the 11th Developing Eight (D-8) Organization for Economic Cooperation Summit on Thursday, attended by heads of state and governments, to discuss ongoing global economic and Political changes.
In his opening speech, titled "Investing in Youth and Supporting Small and Medium Enterprises to Shape Tomorrow's Economy," Al-Sisi emphasized the importance of strengthening cooperation among developing nations to tackle international challenges.
He underscored the diverse histories, cultures, and economies of member states as key assets for enhancing solidarity and joint action.
Al-Sisi noted the summit's focus on youth investment and the economic impact of small and medium enterprises as drivers of development in developing countries.
He also covered pressing global issues, including conflicts, economic protectionism, and the Israeli-Palestinian conflict's escalation, which threatens regional stability.
Al-Sisi announced a special session on Palestine and Lebanon, acknowledging the severe challenges faced by developing nations, such as financial shortfalls, debt crises, digital divides, poverty, and youth unemployment, which hinder progress and growth.
He called for collaborative efforts to implement joint projects in areas like digital economy, artificial intelligence, agriculture, manufacturing, and renewable energy, including green hydrogen.
He offered Egypt's expertise, citing initiatives like "Decent Life" and "Takaful and Karama," as models for sustainable development.
During Egypt's presidency of the D-8, Al-Sisi launched several initiatives, including establishing a diplomatic academies network, an electronic competition for pre-university students in science and technology, and a think tank collaboration for economic advancement.
He also announced plans for periodic health ministers' meetings, with Egypt hosting the first in 2025, and Egypt's intent to ratify the organization's preferential trade agreement.
The summit will focus on global challenges, economic collaboration, and a dedicated session on Palestine and Lebanon.
Founded in 1997, the D-8 comprises Egypt, Turkey, Nigeria, Pakistan, Iran, Indonesia, Malaysia, and Bangladesh, aiming to strengthen economic and social ties among its members. (end)
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