The D‑8, a coalition of developing economies, has announced a new goal to lift intra‑regional trade to $500 billion by 2030. The target, set at the group’s latest meeting, underscores the importance of small and medium‑sized enterprises in driving economic growth.
Central to the initiative is Nigeria’s Abuja SME Centre, which the D‑8 highlighted as a key hub for fostering trade links among member states. The centre provides support services, market access information and networking opportunities for Nigerian businesses looking to expand across the D‑8 region.
By 2030, the D‑8 aims to create a more integrated trade environment, encouraging member countries to increase exports, reduce trade barriers and improve logistics. The $500 billion figure represents a significant jump from current levels, reflecting the group’s ambition to boost economic cooperation.
While the announcement focuses on Nigeria’s role, the D‑8’s broader strategy involves coordinated policy reforms, investment in infrastructure and the promotion of digital trade platforms to support SMEs across the bloc.
Further details on the roadmap and implementation plans are expected to be released by the D‑8 Secretariat in the coming months.
<small>Source: Punch Nigeria — read the original story there.</small>
