Islamic D-8 nations vow solidarity in facing rich states<\/p>\n
CAIRO (AFP): The leaders of eight Muslim developing nations
\nwith a combined population of 800 million vowed here Sunday to
\ntake up the challenges of globalization and join forces to face
\nthe developed states of the World Trade Organization (WTO).<\/p>\n
Two of those leaders, host Egyptian President Hosni Mubarak
\nand Bangladeshi Prime Minister Sheikha Hasina Wajed, called for a
\nfair distribution of the wealth generated by globalization and
\ntrade development at the D-8 summit.<\/p>\n
\"A truly globalized world has to be based on give and take and
\na better understanding of the mutuality of interests\" between
\ndeveloped countries and developing ones, said the outgoing
\npresident of the grouping, Sheikha Hasina.<\/p>\n
\"We want a win-win outcome of the fruits of globalization\",
\nshe said at the Cairo gathering.<\/p>\n
Egypt's Economy Minister Yousef Boutros Ghali meanwhile said
\nthe D-8 (D for development) had decided to \"negotiate as a bloc
\nwith developed countries during the next meeting of World Trade
\nOrganization economy ministers.\"<\/p>\n
The meeting is due to take place in Qatar in November.<\/p>\n
Boutros Ghali told reporters on the sidelines of the summit
\nthat the D-8 economy ministers would meet before the WTO
\ngathering to forge a common position.<\/p>\n
Spanning Africa, Asia and Europe, the group comprises Egypt,
\nBangladesh, Indonesia, Iran, Malaysia, Nigeria, Pakistan and
\nTurkey.<\/p>\n
Mubarak, whose country is hosting the summit of the group
\ncreated in 1997, warned that globalization could marginalize
\ndeveloping countries, and called on the international community
\nto address that issue.<\/p>\n
He urged D-8 countries to \"focus on three challenges: poverty,
\ntrade and financial problems ... in an attempt to strike a new
\nbalance in the world order and include developing countries in
\nit\".<\/p>\n
Mubarak later announced the summit's Cairo Declaration which
\npledged to double the volume of trade among the eight over the
\nnext five years from 3.5 percent of their total foreign trade to
\nseven percent.<\/p>\n
The Egyptian president said the leaders discussed the effects
\nof globalization on their economies and said the declaration
\naddressed \"ways to face up to the economic challenges that
\nconfront us.\"<\/p>\n
To achieve that goal, the eight countries decided to make a
\nstudy, financed by the Saudi-based Islamic Development Bank, of
\nways to establish an international trade and marketing company
\nbased in Cairo, Mubarak said.<\/p>\n
Iranian Foreign Minister Kamal Kharazi, speaking at the
\nopening of the one-day summit, accused Israel of hampering
\neconomic development in the Middle East region.<\/p>\n
\"Israeli atrocities against the Palestinians has caused many
\ndeaths and injuries, but also generated very difficult economic
\nconditions\", he said.<\/p>\n
\"Insecurity in the Middle East has a very negative impact on
\nour economies,\" the Iranian minister added.<\/p>\n
Also attending the gathering were Presidents Olusegun Obasanjo
\nof Nigeria, Abdurrahman Wahid of Indonesia and Ahmet Necdet Sezer
\nof Turkey as well as Pakistani military leader Pervez Musharraf.<\/p>\n
Malaysia was represented by its deputy prime minister,
\nAbdullah bin Ahmad Badawi.<\/p>\n
All participants spoke at the opening of the summit to promote
\ntrade, economic and technological cooperation and denounced the
\nnegative effects of globalization on their economies.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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