D-8 members complete ratification of Preferential Trade Agreement

The Developing-8 Organization for Economic Cooperation (D-8) has announced that all eight original signatories have now ratified its Preferential Trade Agreement (PTA). Egypt was the final member to complete the domestic ratification process, formally lodging its instrument with the D-8 Secretariat this month.

The agreement, originally signed in 2006, aims to provide preferential tariff reductions, improved market access, and streamlined trade procedures among member states, which include Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye. The D-8 aims to reach $500 billion in intra-bloc trade by 2030, a significant increase from the estimated $150 billion recorded in 2024.

In recent discussions at the 6th Consultative Forum of Regional Cooperation Organizations in Casablanca, the D-8 Secretariat reaffirmed its commitment to the Decennial Roadmap 2020–2030. Efforts are underway to evolve the PTA into a more comprehensive arrangement and to strengthen private-sector engagement through initiatives such as the D-8 Chamber of Commerce and Industry and the SME Centre in Abuja.