**Economic stakes of holding the summit of the Organization of the Eight Developing Countries for Economic Cooperation in Egypt**
The recent announcement of holding the summit of the Organization of the Eight Developing Countries for Economic Cooperation (D-8) in Egypt raises crucial questions about the economic future of the region. The importance of this event cannot be underestimated, as it provides a vital platform to strengthen cooperation among member countries and promote economic development in a constantly changing global context.
Economic expert Wafaa Ali highlighted in an intervention with RT the importance of this event for Egypt and the region as a whole. She highlights the crucial role of the D-8 Organization as a vehicle for sustainable development and strengthening its international presence. In a world marked by fierce competition and geopolitical tensions that affect the global economy, regional economic cooperation becomes more necessary than ever.
Egypt is striving to build a sustainable and competitive economy by diversifying its economic portfolio and fostering a new culture of collective investment for a brighter future. It aims to promote the collective rise of emerging economies and present a sustainable development model for regional blocs. Egypt’s ambitions extend to increasing the volume of trade, improving international relations, improving living conditions and bridging development gaps between countries.
In this regard, the proposal to further reduce customs barriers, broaden the energy transition and establish networks of economic research centres appears essential. Similarly, the creation of a fund to support group projects and the signing of a preferential free trade agreement between member states are important measures to be taken into account.
Economic expert Ahmed Saeed also highlighted the importance of holding the D-8 Summit in Egypt, highlighting the benefits of an alliance between these eight countries with common needs and challenges. He mentioned the possibility of establishing a unified technological university and joint capital investments to address these shared needs.
In short, holding the D-8 Economic Cooperation Organization Summit in Egypt represents an exceptional opportunity to strengthen regional economic cooperation, foster sustainable development, and promote innovation and economic growth. This historic event promises significant progress for member countries, in a context marked by the growing importance of regional cooperation to address global economic challenges.