At D-8 Cairo summit, PM Shehbaz says investing in youth crucial for Pakistan’s socioeconomic progress
Speaking at the 11th Summit of the Developing Eight (D-8) countries in Cairo, Prime Minister Shehbaz Sharif on Thursday stressed that investing in youth was “crucial” for Pakistan’s socioeconomic development and progress.
Founded in 1997 in Istanbul, the D-8 Organisation for Economic Cooperation, also known as Developing-8, is an organisation for development cooperation among Egypt, Nigeria, Turkiye, Pakistan, Indonesia, Bangladesh, Iran, and Malaysia.
Its objective is to increase economic cooperation among member states to boost economic growth, sustain development and promote and improve standards of living by focusing on bringing improvement and enhancing cooperation in agriculture, trade, transportation, industry, energy, and tourism.
The theme of this year’s summit, held from December 18 to 19, is “Investing in Youth and Supporting SMEs: Shaping Tomorrow’s Economy”.
Addressing the summit, PM Shehbaz said: “For Pakistan, investing in youth and supporting SMEs (small and medium enterprises) is crucial for our socioeconomic development and progress.
“With over 60 per cent of our population under the age of 30, we possess a fountain of potential for innovation and growth,” he added. However, the premier noted, “unlocking this potential requires providing the right skills, opportunities, and financial resources”.
Noting that the theme of today’s summit pertained to investing in youth, PM Shehbaz emphasised it “served as a blueprint for collective prosperity in the 21st century”. He termed the youth and small and medium enterprises (SMEs) the “key drivers of economic development in any society”.
“Youth brings energy, fresh ideas, and creativity, whereas SMEs create jobs, foster innovation, and promote entrepreneurship. By investing in both, we can build inclusive and robust economies that are ready for the global challenges of today and tomorrow.”
During his address, the premier highlighted that the government PM’s Youth Programme had distributed “over 600,000 laptops to high achievers”.
Referring to the PM’s Youth Business and Agricultural Loan Scheme, PM Shehbaz said the government had disbursed “billions in loans enabling young Pakistanis to start and scale their own businesses”.
“Today’s summit offers the D-8 countries a valuable opportunity to share best practices, pool resources and create programmes that support youth and small [and] medium enterprises across borders,” he said.
The prime minister also mentioned the government’s efforts to empower the IT sector, noting that Pakistan was home to “one of the largest freelance communities in the world”.
“We are focusing on IT trainings at a mass scale to equip our youth with the necessary tools to connect with the digital world and capitalise on the opportunities, with the aim to enable job-seekers to become job-creators,” he said.
“Connectivity is a force multiplier and is rightly hailed as a vehicle for peace and prosperity as emphasised in the Dhaka declaration earlier in 2021,” the premier highlighted.
“We need to explore the possibilities of developing and enhancing transport connectivity among D-8 member states for building efficient intra-trade corridors and reliable supply chains,” he said, highlighting that the “Pakistan-Iran-Turkiye Corridor” was an excellent project.
At the outset of his speech, PM Shehbaz thanked Egypt’s President Abdel Fattah El-Sisi for a “very warm and generous welcome” given to him and his delegation.
Earlier today, the prime minister arrived at the Royal Palace of Egypt in Cairo to attend the summit, where he was received by President El-Sisi and recorded his impressions in the visitors’ book, state-run Radio Pakistan reported.
On the sidelines of the summit, the premier met with Professor Dr Muhammad Yunus, chief advisor of Bangladesh’s interim government, as well as Indonesian President Prabowo Subianto.
He is also expected to hold bilateral meetings with the presidents of Iran, Turkiye, and Egypt.
‘Global peace not possible without Gaza ceasefire’
PM Shehbaz also took the opportunity to reiterate his call for a ceasefire in Gaza, where Israel’s 14-month-long offensive has killed more than 45,000 Palestinians, with many feared buried under the rubble.
The premier termed the D-8 a “very important platform for cooperation” between its members, stressing that the summit was taking place at a “very critical juncture”.
“Ceasefire in Gaza is so important that without that, peace, prosperity and progress not only in the region but globally, will not be possible,” the prime minister asserted.
Addressing the leaders present at the summit, he said: “It is equally important if not more, to discuss the situation in Gaza, the ceasefire in Lebanon and the potential threat of Israel’s carnage in this area and the world over.”
He appreciated President El-Sisi for allocating a separate session for the “burning issue” of crises in the Middle East.
At the summit, PM Shehbaz will also attend a special session of D-8 on ‘Humanitarian Crisis and Reconstruction Challenges in Gaza and Lebanon’ to deliberate on the situation resulting from Israeli aggression in the Middle East.
In an earlier summit in June, the alliance demanded full Palestinian membership of the United Nations and greater international pressure on Israel for a ceasefire in Gaza.
PM thanks Yunus for steps to boost travel, trade with Bangladesh
Separately, PM Shehbaz termed his meeting with Bangladesh’s Yunus a “very warm and cordial exchange”, with Radio Pakistan reporting various positive steps taken to facilitate trade and travel between the two countries.
“We discussed strengthening historical and cultural ties, increasing trade, and exploring cooperation in IT, chemicals, leather, surgical goods and other sectors,” the premier said in a post on X.
The two also “agreed to enhance people-to-people exchanges and align efforts for mutual development”. “We reaffirmed our commitment to deepen bilateral and multilateral collaboration for the shared prosperity of our peoples,” the prime minister added.
PM Shehbaz also expressed his gratitude to Bangladesh for the recent steps taken for the facilitation of trade and travel between the two South Asian nations, Radio Pakistan said.
It added that the steps included waiving off the condition of 100 per cent physical inspection of consignments from Pakistan and abolishment of a special security desk at the Dhaka airport established earlier to scrutinise Pakistani passengers.
The prime minister also thanked Bangladesh for doing away with an additional clearance requirement for Pakistani visa applicants.
According to Radio Pakistan, the two leaders acknowledged the importance of people-to-people contacts and cultural exchanges, including of artists, sportspersons, academics, and students.
It added that they “noted with satisfaction” the recent visit by the Bangladesh Cricket Team to Pakistan as well as the concert of music band Jal in Dhaka.
Meanwhile, in his meeting with President Subianto, PM Shehbaz termed Indonesia as a reliable trade partner of Pakistan, particularly as a palm oil supplier, Radio Pakistan reported.
The prime minister also extended President Subianto an invitation to visit Pakistan at his early convenience, which the latter accepted, the report said.
The two countries agreed to remain in close contact to maintain the momentum in bilateral relations, with particular emphasis on further deepening economic and commercial ties.
Both leaders also called for a ceasefire in Gaza and urged for a comprehensive approach to the resolution of the Palestinian question.