Riyadh: The Digital Cooperation Organization Council (DCO) on Sunday welcomed the accession of two new member states, the Republic of the Gambia and the Republic of Ghana.
Currently, the Organization represents 13 nations and serves more than 600 million individuals, with a collective GDP of more than USD 2 trillion. Representing the Kingdom of Bahrain, the Republic of Cyprus, the Republic of Djibouti, the Republic of The Gambia, the Republic of Ghana, the Hashemite Kingdom of Jordan, the State of Kuwait, the Kingdom of Morocco, the Federal Republic of Nigeria, the Sultanate of Oman, the Islamic Republic of Pakistan, the Republic of Rwanda, and the Kingdom of Saudi Arabia
Marking the 2nd General Assembly of the DCO, held in Riyadh, the Ministers and Government Representatives of ODC reaffirm the importance of multilateral cooperation to encourage the sustainable and inclusive growth of the digital economy.
The Ministers and Government Representatives of ODC acknowledge the role of multilateralism as an enabler of digital inclusion and transformation and a facilitator for exchanging knowledge and active dialogues.
They recognize the outcomes of the Bridging the Gap Report highlighting the importance of cooperation in driving sustainable and inclusive growth of the global digital economy.
They recognize that empowering entrepreneurs and MSMEs, who make up over 90% of all businesses, is crucial for their success and growth in a dynamic digital economy.
Strengthening Cooperation through Improved Governance
In their efforts to build an agile, efficient, and relevant organization, the Ministers and Government Representatives of the Digital Cooperation Organization:
- Adopted the new Organization Bylaws that will streamline the operations of the Organization and effectively supersede the previously approved Governance Guidebook of 2021.
- Established and elected the DCO Executive Committee mandated with the roles and responsibilities stipulated in the Bylaws. The inaugural members of the Committee are the Kingdom of Saudi Arabia as Chair and the Kingdom of Bahrain, the Hashemite Kingdom of Jordan, xx, and xx as members.
- Established the DCO Observers Committee as proposed by the Secretary-General. This is a way forward to allow for the co-creation and co-design of joint initiatives between the Observers and Member States to drive greater Digital Prosperity for All.
- Voted in favor of forming the STRIDE Association as described in the Secretary-General’s proposal. This initiative will play a pivotal role in catalyzing the growth of MSMEs and start-ups within and between Member States. In addition, the Association will act as a facilitator between the public and the private sectors to make available the needed insights and interventions.
DCO 2030 Roadmap to set the goals
The Ministers and Government Representatives of ODC convened today amid tumultuous times, as the COVID-19 pandemic has brought to light the paramount significance of the digital economy across various sectors, including education, health, manufacturing, and beyond. Digital transformation for governments, industries, and MSMEs have accelerated during the pandemic. They need to ensure a positive and long-lasting impact of these changes.
Recognizing the essential role of digital technologies in fostering inclusive and sustainable growth across formal and informal economies, they acknowledge the numerous barriers hindering the digital economy’s full potential, such as the digital divide, inadequate digital infrastructure, and the shortage of digital skills. These challenges have persisted for years and can only be addressed through collaborative and cross-border efforts.
The Ministers and Government Representatives of the Digital Cooperation Organization, agreed to launch the DCO 2030 Roadmap to:
- Promote common interests and advocate for advanced cooperation on all aspects of the digital economy at local, regional, and global levels between countries and all other stakeholders of the digital economy, including private actors.
- Build regulatory frameworks and business environments that support innovation, entrepreneurship, investment, efficient data flow, and mobility of the digitally skilled workforce – among other growth levers – to increase opportunities for millions of people and businesses and accelerate the growth of the digital economy in a larger cross-border digital market.
- Ensure the digital economy's inclusiveness, fairness, and trustworthiness so its growth is sustainable, benefits all, and contributes to prosperity. The DCO will be recognized as the reference for empowering people and communities while advocating for a digital economy that respects Planetary Boundaries.
By fostering and facilitating digital cooperation and expediting digital transformation across all sectors, they can unlock the full growth potential of the global digital economy. They aspire to achieve “30 by 30”, an ambitious future where the digital economy could contribute 30% of the global GDP and create 30 million jobs by 2030. This endeavor demands the collective effort of all stakeholders in the digital economy to attain the digital prosperity we aspire to.
They, therefore, call for an open collaboration between all stakeholders to identify ways to maximize the social and economic benefits of digital transformation in the world while mitigating potential downsides.
Charting the path to success
The next General Assembly Meeting of the Digital Cooperation Organization will take place in December 2023 in the Kingdom of Bahrain in which progress of the Organization will be discussed as well as the impact of joint initiative will be assessed in line with the DCO Strategic Roadmap 2030 to enable Digital Prosperity for All.
Oman Observer is now on the WhatsApp channel. Click here
