Abuja, Nigeria – June 16, 2025 – The Federal Republic of Nigeria, through the Federal Ministry of Industry, Trade and Investment, has successfully hosted the 8th Session of the Supervisory Committee of the D-8 Preferential Trade Agreement (SC PTA) in Abuja. This significant gathering, officially declared open by Honourable Minister Dr. Jumoke Oduwole MFR, marks a crucial milestone in advancing intra-D-8 trade, fostering industrial growth, and deepening regional economic cooperation.
Delivering the opening declaration on behalf of His Excellency, President Bola Ahmed Tinubu GCFR, Dr. Oduwole reaffirmed Nigeria’s unwavering commitment to the goals and ideals of the D-8. She emphasized that the D-8 PTA is more than just a legal instrument—it symbolizes the collective ambition of Member States to unlock trade potential, drive industrial expansion, and promote inclusive economic prosperity.
Highlighting Nigeria’s leadership role as Africa’s largest economy and a founding member of the D-8, Dr. Oduwole outlined Nigeria’s progress in domesticating the PTA and aligning national trade policies with its provisions, stressing the need for Member States to focus on pragmatic and results-oriented solutions. 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.
Speaking at the event, Ambassador Nura Abba Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment and Chair of the 8th SC PTA, welcomed distinguished representatives, acknowledging the substantial progress made since the last session in Dhaka, Bangladesh.
While commending advancements such as tariff concessions, customs harmonization, and non-tariff barrier reduction, he emphasized that low intra-D-8 trade remains a challenge and called for renewed collective efforts to fully operationalize the PTA.
In his remarks, Ambassador Isiaka Abdulqadir Imam, Secretary-General of the D-8 Organization, applauded Nigeria for hosting the meeting and highlighted recent 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.
Recognizing the current turbulence in global trade, Ambassador Imam 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 to enhance efficiency and transparency,
- Simplification of rules of origin to ease compliance,
- Trade monitoring mechanisms to improve accountability, and
- Institutionalized public-private dialogue to boost investments and joint ventures.
The Secretary-General also noted that D-8 intra-trade stands at USD 146 billion, representing only 7% of total external trade, much lower than regional blocs such as ASEAN and MERCOSUR.
He encouraged member states to work towards achieving the 10% intra-trade target and explore ambitious agreements like a D-8 Free Trade Agreement or Comprehensive Economic Partnership Agreement.
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). Scheduled to launch on June 17, 2025, the initiative 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.
Honourable Minister Dr. Jumoke Oduwole MFR, in her declaration, called for concrete action, urging delegates to ask hard questions such as:
- Are we removing existing trade barriers effectively?
- Are our private sector actors benefiting from the PTA?
- How can we strengthen the Supervisory Committee’s role as a catalyst for results?
She emphasized the need to prioritize youth and women in trade, build inclusive economies, and ensure that the Supervisory Committee’s work translates into tangible economic opportunities.
She concluded by formally declaring the 8th Session of the Supervisory Committee of the D-8 Preferential Trade Agreement open, expressing hope that the deliberations would result in clear timelines, actionable outcomes, and mechanisms for accountability.
Signed
Dr Adebayo Thomas
Director Press and Public Relations
16th June 2025
