Pakistan Reaffirms Commitment To SME Development At D-8 Meeting

ISLAMABAD, (UrduPoint / Pakistan Point News - 10th Sep, 2025) Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Wednesday said that Pakistan was committed to transforming Small and Medium Enterprises (SMEs) into engines of sustainable growth and drivers of an inclusive industrial revolution.

“Under the vision of Prime Minister Muhammad Shehbaz Sharif, Pakistan is committed to transforming SMEs into engines of sustainable growth and drivers of an inclusive industrial revolution”, he emphasized during the first virtual session and the 8th official meeting of the D-8 governmental bodies on Small and Medium Enterprises (SMEs), said a news release.

The session was also attended by the Secretary of Industries and Production Saif Anjum, and the CEO of SMEDA Suqrat Aman.

The SAPM highlighted that SMEs contribute nearly 40 percent of Gross Domestic Product (GDP) in developing economies, and their strengthening is essential for job creation, innovation, and poverty reduction.

Haroon said “SMEs are the backbone of our economy and the foundation for regional economic integration. Pakistan’s SMEs, particularly in textiles, surgical goods, IT, and sports sectors, are globally recognized, and we are determined to enhance their competitiveness,”

He said limited financing, technology gaps, and market access remain key challenges. Through collective efforts, we can convert these barriers into opportunities.

“Pakistan is committed to aligning its SME policies with international standards, ensuring inclusivity, and engaging all stakeholders in the process,” he added.

Meanwhile, Saif Anjum underlined that the D-8 cooperation framework provides member states with the platform to participate in global value chains, paving the way for stronger regional collaboration and industrial growth.

The 8th meeting reaffirmed the role of SMEs in achieving the Sustainable Development Goals (SDGs) and agreed to enhance financing access, digital transformation, environmentally friendly practices, and youth and women empowerment within member states.

Pakistan remains steadfast in its resolve to advance regional economic diplomacy and promote SMEs as the central pillar of development and global competitiveness.

The Developing-8 Organization for Economic Cooperation (D-8), established in 1997, comprises Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Türkiye.

The organization works to enhance global economic positioning, expand trade opportunities, and improve living standards through collaboration in sectors including agriculture, energy, industry, tourism, and SME development.

Since the creation of the D-8 SME Governmental Bodies in 2010, the grouping has advanced policies on financing, e-commerce, technology transfer, industrial parks, and SME networking.

The recent launch of the D-8 SME Center in Abuja, Nigeria (2025) is a milestone, serving as a hub for innovation, digital trade, and capacity-building across member states.