Professor Dr. Sujit Kumar Datta
The 11th D-8 Summit in Cairo, Egypt, is a significant milestone for Bangladesh regarding South-South cooperation. As the current chair of the D-8 alliance, Bangladesh has pledged to reach new heights in South-South cooperation by demonstrating its leadership. In preparation for international relations, South-South has emerged as an important concept. Established in 1997, the D-8, or Developing Organization, aims to promote economic empowerment among eight politically oriented developing countries.
The organization’s member countries are Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, and Türkiye. The 11th D-8 summit opens a new horizon for South-South positioning, an important opportunity to enhance strategic partnership and position among developing countries. The main objective of the D-8 organization was to accelerate economic and social development in developing countries.
The organization seeks to strengthen economic relations among member countries through trade, agriculture, industry, government, and energy sectors. In 1997, this issue was witnessed through various votes and passed at the beginning of the Imbul outside world.
The primary objectives of the D-8 were:
- Increase trade and investment between member countries
- Adopting technical plans to ensure signature development
- Strengthen communication through technology and knowledge
- Globalization of developing countries
The 11th D-8 summit takes place at a special moment when issues such as the global economy, climate change, and technological change have created new challenges and opportunities for developing countries.
The main topics of the conference were:
Trade Cooperation: Increasing intra-trade by reducing tariff and non-tariff barriers between member countries
Tackling Climate Change: Joint initiatives aimed at protecting the environment and increasing the use of renewable energy
Technological Innovation: Planning to harness the Digital Economy’s Opportunities and the Fourth Industrial Revolution
Human Resource Development: Education Development and Skill Enhancement Schemes
The D-8 can become a model for cooperation among member countries and other developing countries in the Southern perspective. South-South cooperation differs from North-South cooperation because it is based on equality, mutual respect, and exchange of experiences. There is enormous potential for trade between the D-8 countries. In 2021, D-8’s domestic trade was about $130 billion. The conference set a target of reaching $500 billion by 2030. Efforts to form a free trade area among member countries are significant. The risks of climate change are severe for developing countries.
The D-8 countries plan to collaborate on renewable energy production, forestry, and reducing carbon emissions. Countries like Bangladesh, where the impacts of climate change are very evident, can directly benefit from this cooperation. At the D-8 conference, member countries agreed to seize the opportunities of the fourth industrial revolution. Member countries can advance technological development by cooperating in the digital economy, e-commerce, and fintech sectors.
Bangladesh is one of the important member countries of D-8. At the 11th summit, Bangladesh reflected on its economic and strategic priorities. Bangladesh’s expected benefits from D-8 include Trade expansion, entering new markets, and increasing export earnings. Coping with the effects of climate change: Obtaining the necessary technology and funding through international cooperation. Human Resource Development: Exchange experience and training with member countries.
There are some challenges in realizing the potential of D-8. Notable challenges include:
Political instability: Internal political instability of member countries.
Lack of funding: Lack of adequate funding for joint projects.
Lack of adequate policies and frameworks: Developing an effective policy for cooperation.
Addressing these challenges requires effective diplomacy, long-term planning, and mutual trust and cooperation among member states.
The 11th D-8 Summit ushered in a new era of South-South cooperation. It has provided a powerful platform for developing countries to work together to address common challenges and seize opportunities. D-8 is an important platform for Bangladesh that has created unique opportunities for economic development, climate change mitigation, and technological advancement.
However, realizing these potentials requires effective leadership and coherent and sustainable strategies. The success of the D-8 could become a model for South-South cooperation, opening new horizons for the entire developing world. Platforms like the D-8 can be a powerful means of promoting solidarity and achieving economic prosperity among developing countries through South-South cooperation.
The 11th D-8 Summit is an important platform for Bangladesh, where the country has demonstrated its leadership qualities and set a new benchmark in South-South cooperation. This conference was an excellent success for Bangladesh regarding trade, economy, and field.
The writer is former Chairman, Department of International Relations, University of Chittagong, Banglades and Deputy Director, Hong Kong Research Center for Asian Studies (RCAS)
