Ambassador Sohail Mahmood Sets 2030 Intra-Bloc Trade Target at Jakarta Forum
Trade volume among Developing Eight (D-8) member nations reached approximately $157 billion in 2024. Ambassador Sohail Mahmood, the D-8 Secretary-General, disclosed this figure during the second D-8 Business Forum in Jakarta, Indonesia. He called for stronger private-sector partnerships, improved market access, increased investment and more resilient supply chains to hit the organization’s commercial goals.
The forum took place on October 15, 2026, alongside the 41st Trade Expo Indonesia. Discussions centered on the theme “Advancing Indonesia’s D-8 Presidency: Empowering Business Cooperation in Trade and Supply Chain.” The bloc comprises nine economies spanning Asia, Africa, and Europe, collectively representing roughly 1.3 billion people and a combined gross domestic product exceeding $5 trillion.
Decennial Roadmap Targets US$500 Billion by 2030
The organization’s decennial roadmap aims to increase intra-D-8 trade volume to US$500 billion by 2030, according to Mahmood’s remarks at the Jakarta gathering. Meeting this target requires businesses to enter new markets, diversify sourcing, establish industrial partnerships, and develop integrated regional supply chains.
Mahmood urged full ratification of the D-8 Preferential Trade Agreement by all original signatories. According to him, the bloc is taking active steps to enhance trade preference utilization, broaden product lists, and deepen outreach to industry associations, importers, and exporters. Key operational hurdles identified include customs procedures, non-tariff barriers, logistics, transport connectivity, and business mobility.
Abuja SME Centre and Nigerian Private Sector Absence
Highlighting national contributions to the bloc, Mahmood pointed to the D-8 Centre for Small and Medium Enterprises established in Abuja in June 2025. He stated that the Abuja-based facility supports entrepreneurship, builds business capacity, encourages innovation, and improves access to regional and international markets for small businesses.
Meanwhile, Nigerian business representatives voiced concerns at the forum regarding the absence of a Nigerian government delegation. Over 150 Nigerian entrepreneurs made the trip to Indonesia to seek out international business prospects and commercial alliances, as noted by Hassan Yaro, who serves as President of the Kano Council of Traders and Entrepreneurs and is a council member of the Kano Chamber of Commerce. Expressing skepticism about current strategies for showcasing Nigerian enterprises abroad, Yaro asserted that involvement in international trade gatherings ought to yield tangible financial dividends. While recognizing state-led programs for the halal economy—specifically those tied to Vice-Kashim Shettima—he called on the Presidency to place greater focus on the economic prospects accessible to Nigerian companies through the D-8 mechanism.
Sectors Driving Joint Ventures and Future Milestones
Private businesses must remain central to the D-8 economic integration agenda, Mahmood emphasized, noting that governments could establish supportive policies while businesses mobilised capital, drove innovation and created economic value. Targeted sectors for joint ventures, technology transfer, and cross-border investment include:
* Textiles and automotive manufacturing
* Pharmaceuticals
* Agriculture and food processing
* Energy and digital technologies
As the organization approaches its 30th anniversary in 2027, Mahmood urged members to move beyond trading finished goods toward jointly creating value by connecting manufacturers, suppliers, investors and technology partners.
Related reading