D-8 stresses trade diplomacy to promote economic cooperation, global peace

ISLAMABAD, Oct 22 (APP):Developing Eight (D-8) Organization for Economic Cooperation has emphasized the role of trade diplomacy in strengthening economic cooperation among developing countries, promoting global peace and advancing sustainable development.

Director D-8 Mohd Syafik Firdaus Hasbullah highlighted the importance of trade diplomacy while speaking at a panel discussion during the Global Youth Diplomacy Summit Türkiye 2026, held at Istanbul Ticaret University, said a press release.

The Summit, with its thematic focus on “Football Diplomacy, 21st Century Security Issues and International Trade Diplomacy,” provided a platform for high-level dialogue on diplomacy, international cooperation, and the evolving role of youth in shaping global governance. The event brought together diplomats, government officials, academics, consultants, and students from various universities.

Speaking in the panel on International Trade Diplomacy, Director Syafik highlighted the importance of strengthening economic cooperation among developing countries, particularly those in the ‘Global South’. He underscored the need for practical and coordinated measures to reduce dependence on raw material exports and facilitate the transition towards higher-value production, industrial development, technological advancement, and more equitable economic partnerships.

He further emphasized that economic interdependence could contribute meaningfully to international peace, stability, and prosperity when underpinned by economic diversification, fairness, mutual trust, and respect for national sovereignty.

In this regard, he stressed that international trade should not merely serve as an instrument of economic growth but also as a means of fostering mutual understanding, strengthening partnerships, and promoting shared prosperity among nations. Mr. Syafik also highlighted the significance of regional economic cooperation in advancing sustainable development, enhancing economic resilience, and creating greater opportunities for trade and investment. He underscored the importance of inclusive and mutually-beneficial partnerships in addressing emerging global economic challenges.

The Summit also provided an opportunity to exchange perspectives on contemporary diplomatic challenges and encourage greater youth engagement in international affairs, particularly in promoting dialogue, cooperation, and innovative approaches to global economic development.

Director Syafik’s participation in the Summit and his perspectives there illustrated the D-8 Organization’s active engagement on promoting economic cooperation, strengthening South-South partnerships, and advancing inclusive and sustainable development among its Member States and beyond.