G-15 Final Communiqué
Regional, Politics, 6/21/2000

Cooperation among developing countries should be intensified and in this context, G-15 financial institutions should seek to strengthen regional and sub-regional cooperation to promote intra G-15 trade and investment.

This came in the joint communique issued by the tenth summit of the G-15 which wrapped up its meetings Tuesday in Cairo. the member-states reaffirmed the central role that UN plays as the developing countries strive for closer cooperation and solidarity among them so as to realize higher standards of living.

The heads of state and government of the G-15, in their joint communique, said that the G-15 was born at a time of growing optimism in international relations and there was renewed hope for integrating many developing countries into the world economy and the promise of growth and significant reductions in poverty levels after the lost years of the 1980s.

They renewed their desire to see a more harmonious and prosperous world economy, in which the developing countries overcome the challenges and seize the opportunities created by globalization.

But they voiced concern on the pattern of international relations as growth in the developing world slowed from an average of 6 percent to almost 2 percent in 1998.

The leaders called for urgent remedies to the international financial system and wanted to ensure that the integration of developing countries into the world economy will benefit the developing countries.

"There is a need to strengthen such instruments as special and differential treatment provisions and to make them operational so as to promote the interests of developing countries," the communique said.

The participant leaders asked for checking the growing projectionist tendencies in the industrial countries manifested by attempts to introduce non-trade issues in multilateral trade negotiations and the application of non-tariff barriers, antidumping duties and anti-subsidy investigations.

The communiqué said that the g-15 attaches high priority to full and effective implementation of the WTO agreements in manner consistent with the goal of trade liberalization, but expresses concern at unilateral trade measures being resorted to on grounds of environmental protection.

The leaders rejected all attempts to use such issues as disguised forms of protectionism and as conditions for restricting market access, aid, and or technology flows to developing countries. they also expressed concern on the deterioration of preferential schemes, especially the imposition of new conditionalities, such as labor and environmental standards, on developing countries in the generalized system of preferences (GSP).

They emphasized the role of UNCTAD in assisting developing countries in capacity building and in ensuring that future trade negotiations take fully into account the development dimension.

They also stressed the need to maintain strong national and international monetary systems.

On the external debt burden of developing countries, the G-15 leaders said that solving such problem will contribute to economic growth, development, and strengthening global economy.

They welcomed the heavily indebted poor countries (HIPC) initiative of the G-7, the World Bank and the IMF, but further asked for more effective contributions to eradicate poverty.

The leaders also asked for reversing the declining official development assistance (ODA) because they are one of the main resources of generating sustained economic growth and sustainable development.

There is broad recognition of the benefits of foreign direct investment (FDI) as a source of increased productivity, transfer of technology, innovative organizational and management practices and integration in the world economy, the communiqué said. it Added that reliance on FDIs alone will not guarantee that developing countries will resolve difficulties related to deficits in balances of payment.

The G-15 leaders were concerned regarding the growing problem of unemployment in most developing countries, a problem that has been worsened by the recent financial crisis and called on the ILO to design a strategy so as to stimulate employment creation in all developing countries as a follow-up to the declaration and program of action of the Copenhagen Summit on social development.

The communique carried a call to fully and effectively implement relevant decisions adopted at UN Conferences at meetings of relevant regional institutions on the eradication of poverty.

The leaders spelled out determination to strengthen preferential arrangements, such as the global system of trade preferences among developing countries (GSTP), and promote regional trade agreements and South-South cooperation.

The leaders encouraged continued and constructive dialogue with the G-8.

During the Tenth G-15 summit, the leaders discussed the threat posed by terrorism and strongly condemned all kinds of terrorism.

They supported Egypt's initiative for convening an international conference to address terrorism and cross-border organized crime.

On the problem of drugs, the communiqué reiterated their adherence to make all efforts necessary to tackle this problem and recommended other states that did not proclaim their commitment to such target to do so.

The leaders also supported the convening of the UN Conference on illicit trafficking of small arms and light weapons in 2001.

They also reiterated support for the G-77 initiative on the resolution entitled "prevention of corrupt practices and illegal transfer of funds," adopted by the UNGA.

In short, the communique recommended, at the international level, that:

- Globalization should ensure development with less poverty and deprivation.

- Affirmed the central role of the UN and its agencies and that such agencies should show closer operation and solidarity among developing countries to upgrade their people's standards of living.

- The IMF act effectively in the interest of all countries through equitable representation.

- That the WTO ensure fair international trade and take full account of the interests of developing countries.

- That donor countries accelerate efforts to provide debt relief and attain the official development assistance (ODA) of 0.7 percent of their GDP.

- The adoption of urgent measures to eliminate the use of unilateral coercive economic measures against developing countries.

- commencing the preparatory work for the elaboration of a convention on prevention of corruption and illegal transfer of funds.

- Supporting the call by several developing countries for the urgent need to reexamine and deepen current debt relief.

On the regional level, the communique said that:

- Intra-regional cooperation amongst developing countries should be intensified.

- Intra G-15 trade should be promoted and should include the operationalisation of preferential treatments.

- G-15 should strengthen cooperation with other developing countries and similar groups and strengthen dialogue with the north and its groups.

- G-15 supports the efforts made to reach a just and comprehensive peace in the Mideast.

- Agreed to accept Iran's request to join the Group as well as Colombia in case it renews its membership request, and - welcomed the offers of Indonesia and Venezuela to host the 11th and 12th Summit in 2001 and 2002 respectively.

Previous Stories:
  G-15 leaders have unified vision of joint action   (6/20/2000)
  Mubarak highlights G-15 philosophy, way of action   (6/19/2000)
  Monday's G-15 Summit to focus on development   (6/17/2000)

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