The Small and Medium Enterprises Development Authority (SMEDA) hosted the First Virtual Session (8th Meeting) of the D-8 SME Governmental Bodies on Sept 10, 2025.

Delegates from Azerbaijan, Bangladesh, Indonesia, Malaysia, Nigeria, Pakistan, and Türkiye participated and shared their perspectives on SME-led growth and regional integration.

In his keynote, Mr Haroon Akhtar Khan, Special Assistant to the Prime Minister, said that under the vision of Prime Minister Muhammad Shehbaz Sharif, Pakistan is committed to transforming SMEs into engines of sustainable growth and drivers of industrial modernization.

Highlighting that SMEs contribute nearly 40 percent to GDP in developing economies, he described them as essential for job creation, innovation, and poverty reduction. “SMEs are the backbone of our economy and the foundation of regional integration,” he said, noting Pakistan’s globally recognized SME sectors, including textiles, surgical instruments, IT, sports goods, light engineering, and agro-based industries. 

Mr Socrat Aman Rana, CEO of SMEDA, welcomed the delegates and emphasized the critical role of SMEs across the D-8 community. SMEs represent over 90 percent of businesses worldwide, provide more than 50pc of employment, and contribute nearly 40pc of GDP in emerging markets. By 2030, SMEs are projected to generate over 70pc of new jobs,” he stated.

He expressed confidence that the new D-8 SME Cooperation Framework would enhance internationalization, global value chain integration, and access to international markets. “Together, the D-8 - representing a market of 1.3 billion people - holds the potential to expand collective trade to $2 trillion,” he added.

Speaking on the strategic significance of regional collaboration, Mr Saif Anjum, Secretary Industries and Production, said the D-8 Cooperation Framework creates opportunities for member states to integrate into the global value chain. He underlined Pakistan’s commitment to advancing economic diplomacy in the region, positioning SMEs as a central pillar of competitiveness.

H.E. Ambassador Isiaka Abdulqadir Imam, Secretary-General of the D-8, shared that intra-D-8 trade reached $157.06 billion in 2024 - a 10% increase from the previous year. He highlighted the region’s ambitious goal of achieving $500 billion intra-trade by 2030 under the Decennial Roadmap and the Preferential Trade Agreement (PTA).

He also noted that the D-8 Centre for SMEs in Nigeria is being developed as a hub of excellence for innovation, financing, and digital integration. “The D-8 SME Cooperation Framework is evolving into a strategic engine for sustainable development, job creation, and competitiveness,” he remarked.

The session concluded with presentations from member states outlining their national SME development strategies and reaffirming a shared commitment to strengthening SME ecosystems across the D-8.

The participants agreed to convene at least twice annually and to accelerate the operationalization of the Memorandum of Understanding on SME cooperation. The next meeting is scheduled to be held in Nigeria in six months.