Sharm El-Sheikh, Egypt:
The 118-member Non-Aligned Movement (NAM), currently meeting at Sharm el-Sheikh
in Egypt, has called for a new
world order to prevent a repeat of the global economic meltdown.
in the world must seek just solutions to the global economic
crisis," Cuban President Raul Castro, the outgoing NAM president,
told the opening session of the 118-member body conference.
"We call for a
new monetary and economic world order," he proposed adding, "We must
restructure the world financial system to take into consideration
the needs of developing countries."
firestorm swept the US last year after the collapse and financial
woes of a number of Wall Street giants.
It has knocked
down markets worldwide.
believe the crisis, the worst crisis since the Great Depression of
the 1930s, signals the collapse of the US-styled capitalism.
"We call for a
new international political, economic and trade order," agreed
Egyptian President Hosni Mubarak, the summit host and new NAM
president. "We call for a more just and balanced order that prevents
discrimination and double standards, achieves the interests of all,
takes into account concerns of developing countries and establishes
democratic dealings between rich and poor states", he said.
Minister Gordon Brown underlined in October the need for a new
international financial architecture for the global age. "We must have a
new Bretton Woods, building a new international financial
architecture for the years ahead."
Woods system, agreed at the end of World War II, has set in place
the world's financial architecture which remains in place today
based on the International Monetary Fund (IMF) and the World Bank.
Maummar Gaddafi demanded a change in the global power dynamics and a
restructuring of the UN Security Council. "We have suffered all
sorts of harm from the Security Council, it has become a sword over
our necks", Gaddafi said.
He insisted that
the Council was "monopolized by a few countries that are permanent
a danger toward international peace. The Security Council is
leader called for correcting the imbalance at the Security Council,
demanding a permanent seat for the 53-member African Union, which he
members of the 118-member body should play a bigger role on the
processes, whether in the UN or the international financial
institutions continue to be based on charters written more than 60
years ago, though the world has changed greatly since then," said
Premier Manmohan Singh. "Developing countries must be fully
represented in the decision-making levels of international
India-Pakistan pledge dialogue
meeting in Egypt on Thursday on the sidelines of the NAM summit, the
prime ministers of India and Pakistan agreed to continue dialogue to
resolve the differences between the two nuclear armed neighbours.
The meeting was the second high-level talks between the two nations
since last year's attack on the Indian city of Mumbai, which New
Delhi blamed on a Pakistan-based group.
ministers recognised that dialogue is the only way forward," a joint
statement released after the meeting said.
Manmohan Singh, the Indian prime minister, and Yusuf Reza Gilani,
his Pakistani counterpart, also agreed that the fight against armed
groups operating within their borders should not be allowed to
affect the peace process.
"Action on terrorism should not be linked to the composite dialogue
process and these should not be bracketed," the statement said.