G-15 nations close ranks to brave world economy

JAKARTA (JP): Governments under the Group of 15 nations ended on Thursday their two-day summit with calls for a united front to defend the interests of the world's developing countries amid the increasingly fast efforts to globalize economies.

The Jakarta declaration of the G-15 11th summit urged members for closer cooperation, and more concrete actions, noting that little had improved to their benefit while global economies kept merging.

President Abdurrahman Wahid, as chairman of the 11th G-15 summit, called on G-15 governments to become one voice in defending the interests of the developing countries.

"It's easier to have G-15 speak on behalf of the rest (of the developing countries)," President Abdurrahman stated at a media conference.

According to the President, uniting the resources of G-15 members would better ensure their interests would be heard by the developed countries.

He further said that G-15 members had agreed to review the effectiveness of past policies, which some said were more rhetorical than practical.

According to him, the group must seek more practical solutions and concerted efforts in its future steps.

"We have to unite, there are no other options," said Venezuelan President Hugo Chavez, whose country will host the 12th G-15 summit next year.

Vice President Megawati Soekarnoputri, who read out the summit's closing remarks, also lashed out at developed countries' tendency to make key decisions on global issues at the expense of developing countries.

The Jakarta declaration said that although G-15 economies had largely sustained growth while becoming more integrated into the global economy, prevailing challenges and uncertainties put at risk these achievements.

The statement cited the volatility of financial markets, a slowdown in world economic growth, increasing protectionism in developed countries, high levels of unemployment and widening income gaps among countries as these threats.

"The international community should address and urgently rectify all existing imbalances in the world economy to enable developing countries to finance their development strategies."

"We emphasize that the reform of the international financial architecture is long overdue and top priority should be given to measures by both the public and the private sectors to prevent future crisis," it said.

The joint communique said that more equitable participation, cooperation and consultation between developing and developed countries were required to bring about these reforms.

It also called for greater commitment from developed countries to extend financial aid to the developing countries.

The G-15 governments noted a "dramatic decline in real and nominal terms, in ODA (Official Development Assistance) flows to developing countries."

This year's G-15 summit ran on the theme of bridging the gap in information technology between the developed and developing countries.

"We recognize that information and communication technologies (ICT) are central to the emergence of the knowledge-based economy. We are however deeply concerned that the huge potential of ICT for advancing development is largely eluding most developing countries..." the joint communique said.

The Jakarta Declaration, however, fell short of explaining how to overcome this gap, other than underscoring a commitment to explore measures in harnessing the potentials of the technology.

It called for a common vision and international cooperation to bridge the technology gap.

The G-15 summit ended against a backdrop of increased political tension, as legislators called for a special session of the People's Consultative's' Assembly set to impeach President Abdurrahman.

Among the few state heads attending the Jakarta summit were Nigerian President Olusegun Obasanjo, Jamaican Prime Minister James Patterson, Venezuelan President Hugo Chavez and President of Zimbabwe Robert Mugabe.

Although named G-15, the group has 19 members with new ones being Columbia and the Republic of Iran.

The other members are Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Jamaica, Kenya, Malaysia, Mexico, Nigeria, Peru, Senegal, Sri Lanka, Venezuela, and Zimbabwe.

Next year, the 12th G-15 summit will be held in Caracas, Venezuela, and the year after in Algeria. (bkm)