Thursday, 16 July 2009


Libyan President Muammar Gaddafi

Libyan President Muammar Gaddafi

Non-Aligned Movement calls for new economic system

Tom Mellen
Morning Star

Cuban President Raul Castro kicked off the 15th Non-Aligned Movement (NAM) summit in Egypt yesterday by calling for a global financial system "that doesn't depend on the economic stability of only one country."

Mr Castro said that "as usual, the wealthy countries were the source of the current crisis.

"The illogic of an international economic order that depends on blind market principles and consumption and wealth of the few."

The veteran revolutionary leader called for "the creation of a new international financial and economic structure that is based on actual participation of all states and especially developing states."

Egyptian President Hosni Mubarak, who was elected by acclamation as chairman of the summit, echoed Mr Castro's comments.

Mr Mubarak said that a "more equitable and balanced order" would "prevent discrimination and double standards and establish democratic dealings between rich and poor states."

The summit's draft declaration calls for the group to co-ordinate with China, which is attending the summit as an observer, to ensure that developing states have a greater say at international financial institutions like the US-dominated International Monetary Fund and World Bank.

Libyan leader Muammar Gaddafi called for the UN security council to be democratised in order to enhance the prospects of world peace and told the summit that he will demand a seat for the African Union.

"The security council is terrorism. It does not represent us and it is monopolised by a few countries, which represents a danger toward international peace," he argued.

Belarus, the sole European member of the movement, urged relatively developed NAM countries to facilitate the transfer of affordable clean energy technology to poorer states on favourable terms.

NAM leaders have welcomed Belarus's proposal to establish an international centre and a database for transferring advanced technology and a multilateral fund to finance its development, transfer and application.

Founded in September 1961, NAM now unites 118 member states, 16 observer countries and nine observer organisations.

According to the Havana Declaration of 1979, the movement, which represents nearly two-thirds of UN member states, exists to ensure "the national independence, sovereignty, territorial integrity and security of non-aligned countries" in their "struggle against imperialism, colonialism, neo-colonialism, racism and all forms of foreign aggression, occupation, domination, interference or hegemony as well as against great power and bloc politics."

No comments: