The D-8 Islamic states summit opened in Cairo
Regional-Egypt, Economics, 2/26/2001

President Hosni Mubarak of Egypt on Sunday in Cairo opened works of the third summit of the 8 developing Islamic states which includes in addition to Egypt, each of Iran, Indonesia, Nigeria, Bangladesh, Turkey, Pakistan and Malaysia.

In an inaugural speech, President Mubarak called for the establishment of an even International trade system to deal with the unbalances existed in the current order so as the developing countries to start cultivation of the positive fruits. He stressed the need of full implementation and the Uruguay Round agreements.

Mubarak also called for intensifying efforts to withstand poverty and its challenges as well as problem of financing and trade during the coming phase, stressing the need of maintaining social and economic development for the people of the Group.

He continued that this summit is the first in the new century under declaring dialogue among civilizations, calling on rapprochement among peoples of the world, which needs a serious and comprehensive dialogue to deal with various political, social and economic challenges and to search for the joint benefits on the ground of joint responsibility rather than resorting to the logic of power. The Egyptian President explained that leaving Globalization to its own tools and the supremacy of the logic of the superiority of the strong will result in positive developments in the are of information technology and investment. He, however, noted the adverse aspects of Globalization which are represented in poverty, debts;the spread of diseases, margining the developing countries, widening and the gap with the developing countries.

He stressed that the two aspects of Globalization, the negative and the positive represent the two Globalization's two faces that should be taken into account.

Mubarak called for magnifying the benefits of globalization and amending its negatives, adding that Globalization's recent summits have pursued a positive trend.

He added, despite that it ( Globalization )needs to have a tangible outcome to fighting poverty urgently on scientific basis in collaboration with UN and the financial establishments the Group's member states will contribute to.

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