NAM summit opens to seek solidarity, solutions for financial crisis

by Xinhua writers Yu Zhixiao and Yang Jingzhong

SHARM EL-SHEIKH, Egypt, July 15 (Xinhua) -- The 15th Non-Aligned Movement (NAM) Summit opened here Wednesday to seek more solidarity among developing countries to tackle major international and regional issues including the ongoing world financial crisis.

Cuban President Raul Castro, who was chairperson of the 14th NAM summit, declared the opening of the 15th summit, held in the Egyptian Red Sea resort of Sharm el-Sheikh for two days.

During his speech, Castro said NAM has the conviction that all countries in the world should search for effective and justified measures to tackle the current financial crisis.

"The current crisis originated from rich countries due to their unbalanced and partial international economic system. We call for the renewal of the international financial system, based on the real participation of developing nations," he said.

After the speech, Egyptian President Hosni Mubarak was elected by acclamation as chairperson of the 15th NAM Summit.

Mubarak appealed for the construction of a new international political, economic and trade system, which is more balanced and equitable.

He said this summit is a good opportunity for dialogue and NAM members should make use of this summit to boost solidarity.

UN Secretary-General Ban Ki-moon said, "It is abundantly clear that no country -- regardless of size or resources -- can solve problems alone. That raises the stakes and the space for the Non-Aligned Movement to shape a better world."

"The NAM's long-standing commitment to development and social justice also resonates today as the world faces a severe economic and financial crisis," he said.

"We must counter this trend. Truly free and fair trade is crucial to stimulating recovery and spurring growth," he added.

Sudanese President Omar al-Bashir, Libyan leader Muammar Gaddafi, Philippine President Gloria Macapagal-Arroyo, Dominican President Leonel Fernandez and Belarussian Foreign Minister Sergei Martynov delivered speeches respectively on behalf of the Group of77 and China, the African region, the Asian region, the Latin American and the Caribbean region, and the European region.

At the two-day summit, leaders of more than 100 NAM member countries or their representatives focus their debate on the summit theme of International Solidarity for Peace and Development.