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Azerbaijan joins D-8: A New chapter for economic diplomacy [ANALYSIS]

21 December 2024 08:30 (UTC+04:00)
Azerbaijan joins D-8: A New chapter for economic diplomacy [ANALYSIS]
Akbar Novruz
Akbar Novruz
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Azerbaijan has officially become a member of the D-8 Economic Cooperation Organization, marking a significant milestone in its foreign relations and economic diplomacy. With this new addition, the organization will now be referred to as the D-9. Despite its name, the D-9 does not position itself as a rival or alternative to other international organizations but instead emphasizes fostering economic collaboration.

The roots of the D-8 trace back to October 22, 1996, when preparatory work began at the "Development Cooperation Conference." The organization was formally established on June 15, 1997, during a summit in Istanbul, Türkiye, where the Istanbul Resolution laid its foundation.

The D-9’s six-star flag symbolizes its core principles, emphasizing peace over war, dialogue over conflict, justice over double standards, equality over superiority, and human rights over oppression. These ideals have guided its member nations—Azerbaijan, Bangladesh, Türkiye, Indonesia, Iran, Malaysia, Egypt, Nigeria, and Pakistan—in their quest for collaboration across diverse sectors, including agriculture, science, finance, trade, energy, and health.

While the D-9 boasts significant potential, its effectiveness has been a topic of debate. Nearly three decades since its inception, the organization has struggled to fully realize its ambitious goals. Trade and economic relations among member states remain underwhelming compared to other regional and international frameworks.

For instance, Türkiye, the largest economy in the D-9, reported a foreign trade turnover of $585 billion last year. However, its trade with fellow D-9 members accounted for less than $50 billion—just a fraction of its overall trade. This disparity highlights the limited integration within the bloc and raises questions about its ability to foster meaningful economic ties.

The reasons for these shortcomings are manifold. Bilateral relations between member countries have not reached their full potential, and many prioritize their involvement in other organizations. External factors, such as global pressures and international sanctions, have further constrained the D-9's development.

What are the new perspectives with Azerbaijan’s membership?

Azerbaijan’s entry into the D-9 injects fresh energy into the organization. As a rising economic and diplomatic power, Azerbaijan has the potential to bring a positive dynamic to the bloc. However, this membership is not without risks.

The Azerbaijani government is likely to approach its involvement cautiously, balancing its commitments to the D-9 with its broader economic interests. By seeking new opportunities for collaboration within the D-9 while maintaining strong ties with other partners, Azerbaijan can maximize its benefits while minimizing potential drawbacks.

To achieve its original vision, the D-9 must adapt to the changing global landscape. A comprehensive action plan is needed to reinvigorate its mission and make the organization more relevant. Azerbaijan’s membership could serve as a turning point, encouraging member states to reassess their priorities and deepen their cooperation.

As trade relations with the other D-8 members (excluding Türkiye) remain modest, Azerbaijan has the opportunity to lead by example, fostering stronger economic ties and championing reforms within the organization. The question remains: will the D-9 capitalize on this moment to redefine its future, or will it continue to fall short of its potential?

For Azerbaijan, the journey within the D-9 has just begun, and its success will depend on strategic decision-making and a shared commitment to economic progress.

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