Twenty-seven years ago today, on May 13, 1998 (April 18, 1998 lunar calendar), the G15 summit called for the strengthening of South-South cooperation. On May 13, 1998, the Eighth G15 summit concluded in Cairo after adopting a joint communiqué. South-South cooperation, that is, economic and technical cooperation among developing countries (since most developing countries are located in the southern or southern hemisphere of the northern hemisphere, economic and technical cooperation among developing countries is called "South-South cooperation"). It is an indispensable part of international multilateral cooperation for development, an important channel for developing countries to achieve self-reliance and progress, and an effective means to ensure the effective integration and participation of developing countries in the world economy. The joint communique called for further strengthening of South-South cooperation and North-South dialogue in order to meet the severe challenges in the world economy and seize development opportunities, so as to establish a more fair and reasonable world financial system and multilateral trading system. The joint communique said that the level of development within the G15 and some other developing countries is very uneven, and the unreasonable world economic and trading system has had a negative impact on developing countries. The communique pointed out that in view of the current international economic relations of interdependence and shared weal and woe, it is necessary to learn from the lessons of the financial crisis in South East Asia and work together to build a more complete international financial system that is conducive to cooperation and easy to regulate. The communique believes that the financial crisis in South East Asia is not an isolated and unprecedented phenomenon. Since the last G15 summit in Kuala Lumpur, Malaysia, the countries concerned have taken a series of effective measures to revive their economies. The summit unanimously called for the members of the International Financial Institutions Group to increase investment and credit in the region on the basis of strengthening coordination in order to eliminate the impact of the crisis as soon as possible and restore confidence in the regional market. It is believed that debtor countries and creditors should reasonably distribute burdens and share risks, rather than imposing harsh conditions on debtor countries. It said that efforts will be made to strengthen the social safety net to reduce the impact of economic turmoil and financial crisis on people's lives. But the communique also stressed that the implementation of economic reform measures should be based on the premise of maintaining social stability. The communiqué advocates that the interests of developing countries should be fully reflected in the Uruguay Round of the WTO and other related negotiations. The communiqué also calls for the acceleration of the negotiation process between the WTO and the applicant countries in order to continuously expand the multilateral trading system. The communiqué believes that strengthening the coordination and dialogue between the G15 and the Western G8 will play an important role in the stability and development of the world economic order. It is recommended to establish a regular ministerial consultation mechanism between the G15 and the G8, and hold joint meetings of the heads of the two groups when necessary.