Qatar calls for the creation of an economic development fund for South countries

Amir of Qatar, Sheikh Hamad Bin Khalifa Al Thani, made in Doha Wednesday a proposal, at the opening of the second Summit of the Group of 77 and China, calling for the approval of the project on the creation of a social and economic development fund for south countries.

In his opening address, the Amir said Qatar shares with the G77 member states the same vision and aspirations, adding the problems facing the international community have become interlocked, which requires a comprehensive universal vision that would enable South countries to face the challenges more effectively.

Al Thani said that globalization has opened new opportunities, its benefits have not yet covered the vast majority in the developing world, and in particular the least developed countries.

The Amir said it is a duty for developing countries to set up and support programs for social and educational development, and be prepared for facing up unexpected challenges.

He said cooperation among the countries of the south has increased in a way qualifying the group of 77 and China to be an active partner in the world economic order, adding trade among south countries is not a substitute for trade between the north and the south but complements it.

The conclusion of free trade agreements may help set up free trade zones, Al Thani said, proposing to conduct a feasibility study to set up free trade zones in the various continents for the exports of countries of the south to countries of the north.