Serbia can balance its European integration process with the opportunities offered by the Global Development Initiative, becoming a paradigm of modern multilateral cooperation in the 21st century

The commemoration of the fifth anniversary of the Global Development Initiative in 2026 is not only for the celebration of a diplomatic milestone, but an opportunity for an in-depth analysis of the evolution of global development. Since President Xi Jinping introduced this vision at the general debate of the 76th session of the United Nations General Assembly in 2021, the initiative has positioned itself as a significant complement to the UN 2030 Agenda for Sustainable Development.

The Global Development Initiative emerged during a profound global crisis, offering a response to the “development deficit” and promoting inclusive modernization. Today, as it crosses a five-year milestone, the initiative has evolved from a visionary concept into one of the most influential multilateral instruments for achieving the UN Sustainable Development Goals. According to data from June 2025 reported by the China Institute of International Studies, the Global Development Initiative has mobilized more than $20 billion and launched over 1,100 projects across eight key areas, including poverty reduction, food security, pandemic response, development financing, climate change and green development, industrialization, the digital economy and connectivity. The Group of Friends of the Global Development Initiative at the UN Headquarters in New York now comprises more than 80 member states, providing a strong platform for policy coordination.

Nevertheless, from an independent analytical perspective, the Global Development Initiative should also be viewed as a strategic response to the transformation of global supply chains and the need for new markets, where development objectives intersect with geopolitical interests. The initiative has succeeded in redefining development assistance by emphasizing “practical cooperation”. While traditional Western models are often conditioned by political reforms, the initiative focuses on building infrastructure and technological capacity. This is exemplified by the implementation of more than 100 projects under the Global Development and South-South Cooperation Fund in areas such as digital connectivity and poverty reduction. However, key challenges remain — particularly regarding debt sustainability in low-income countries and the need for greater transparency in project allocation to mitigate public criticism.

In today’s complex geopolitical environment, relations between Europe and China within multilateral platforms require a pragmatic approach. European countries face a dual challenge: maintaining economic competitiveness while accelerating the green transition.

The green transition represents the area of greatest convergence of interests. Europe possesses strong political commitment, while China has the capacity for large-scale production and implementation. China’s lead in renewable energy technologies, such as solar panels, wind turbines and lithium batteries, is inspirational to European climate actions under the European Green Deal. Possible cooperation between the European Union and China under the Global Development Initiative can enable the joint setting of decarbonization standards. Despite political differences, both Europe and China support the preservation of the authority of the UN. The initiative can serve as a bridge for cooperation in Global South countries, where European governance standards and China’s infrastructure-building efficiency can generate synergies and open space for trilateral cooperation.

For Serbia, which became a pioneer of this initiative in Central and Eastern Europe by signing a memorandum of understanding with the China International Development Cooperation Agency on Oct 18, 2023, the Global Development Initiative represents a key instrument for modernization aligned with its European aspirations, while above all serving its national interests. This was facilitated by the exceptionally close relations between the two countries. During President Xi’s visit to Serbia in May 2024, China and Serbia decided to build a community with a shared future, an upgrade of their relations from a comprehensive strategic partnership.

However, for full success, cooperation must focus on critical areas requiring improvement. Serbia is currently at a crucial stage of its energy transition. Excessive reliance on low-quality coal represents the country’s environmental and economic risks. As Serbia faces the urgent need for decarbonization, the Global Development Initiative provides an ideal framework for transitioning from fossil fuels to renewable energy sources. Green hydrogen, produced through water electrolysis using wind and solar energy, is often referred to as the “holy grail” of clean energy. Rather than constructing new thermal power plants or conventional solar parks, cooperation could focus on large-scale energy storage systems and pilot green hydrogen production facilities. China is a global leader in this technology, and Serbia could thus accelerate decarbonization without compromising its energy security. One potential project could involve transforming energy hubs such as Obrenovac or Kostolac from high-emission zones into clean energy centers.

As Serbia aspires for EU membership, every project must be “EU-ready”. Therefore, regulatory alignment should not be neglected. This includes harmonizing projects under the Global Development Initiative with EU state aid rules and public procurement transparency requirements. In this context, Serbia can play the role of a “translator” between Chinese development models and European regulatory frameworks. The key to success may lie in transparency and alignment with environmental, social and governance standards, ensuring that investments generate long-term stability rather than just short-term growth.

Mutually beneficial relations between China and European countries can no longer be defined solely by trade, but by common responsibility for global sustainability. European states, and Serbia in particular, as a bridge between the East and the West, can benefit from the Global Development Initiative through multilateral platforms that promote the digital economy and environmental sustainability. An objective analysis of available data clearly shows that the initiative offers an inclusive path to modernization that respects national sovereignty while simultaneously building a shared future for humanity. The achievements of the Global Development Initiative over the past five years confirm that development remains the only viable path to global stability.

For Serbia and China, this moment represents an opportunity to elevate cooperation to a higher qualitative level. The future of this partnership does not lie in the number of signed agreements, but in the depth of technological transfer, environmental protection, and the inclusion of the local scientific community. Objectively speaking, Serbia has the opportunity to become a model country that successfully balances its European integration process with the strategic development opportunities offered by the Global Development Initiative. Through transparency, innovation and an ethical approach to technology, this mutually beneficial relationship can become a paradigm of modern multilateral cooperation in the 21st century — contributing to a world that is more inclusive, greener and, above all, more sustainable.

The author is a professor at the Faculty of Diplomacy and Security at University Union Nikola Tesla in Belgrade, Serbia.

The author contributed this article to China Watch, a think tank powered by China Daily. The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.