The coordination of efforts between the Non-Aligned Movement (NAM) and the Group of 77 and China (G77+) for a more equitable international economic order has significantly improved during the meeting held in Algiers on 28-29 May 2014.
This first ministerial-level meeting of the Joint Coordination Committee NAM/G77 in Algiers coincided with the 50th anniversary of the G77. On this occasion, Algeria emphasized that the Committee, created 20 years ago, remains an irreplaceable platform for consultation and coordination between the two organizations.
A joint statement issued at the end of the meeting reaffirmed the complementarity of the two organizations and their full solidarity. The statement also confirmed that fifty-nine years after the Bandung Conference (1955) and fifty years after the Geneva Meeting (1964), the ideals and objectives contained in these two historic declarations are still valid.
Insisting on the complementarity of the two organizations, this final text identified the NAM as the main political platform for developing countries in multilateral forums, including within the United Nations.
The G77 remains the major economic forum offering the countries of South instruments to promote the common economic interests while strengthening their negotiation capacities on all major economic issues within the UN, and to enhance South-South cooperation for development.
The participants in the Algiers meeting called upon the heads of state and government of the G77 Member States to participate in the historic Summit of the group, scheduled for 14-15 June in Santa Cruz, Bolivia.
The strong synergy between the two organizations was also confirmed through the full support to Algeria’s initiative to convene a ministerial meeting of the NAM-G77 Joint Coordination Committee in New York in September 2015 on the occasion of the 60thanniversary of the Bandung Declaration and the 70th anniversary of UN.
Algeria’s initiative is a move towards a reinforced coordination on the current economic and environmental issues on the UN agenda, including those related to climate change.
In this regard, Algeria underlined, at the opening ceremony of the Joint Committee meeting, the need for the NAM-G77 to reinforce their joint action for a revived multilateralism.
1. A deep reform of the international financial architecture
Algeria pointed out that today’s multilateralism should include comprehensive solutions to the global financial crisis with the involvement of all countries, adding that the crisis has revealed the vulnerability of the economic and financial system and hence the need for a deep reform of the overall international financial architecture.
According to Algeria, in order to yield positive results, the reform should be inclusive, transparent, supportive, and democratic, and the voices and contributions of all countries should be taken into consideration.
Algeria pointed out that the South-South cooperation has become part of its development strategy and a means to achieve not only national development objectives but also regional and international ones.
Since 2010, Algeria has cancelled the debts of 14 African countries worth US$ 902 million and those of two other countries totalling US$ 500 million. These practical steps are part of Algeria’s immediate and sustained solidarity actions towards these countries, particularly in support of their efforts for reconstruction and economic and social development.
2. Reshaping future economy
Regarding the implementation of the millennium development goals (MDGs) and the preparation of the Post-2015 Development Agenda, Algeria considers these two issues as a double challenge to the Member States of the NAM and G77 in terms of interaction. Taking this historic opportunity, special emphasis is to be laid on the need for joint efforts between the NAM and the G77 in order to make of these two organizations act as proposal-making forces capable of influencing the decision-makers and contribute to the reshaping of economy for the well-being of all Member nations.
With reference to the G77 background, Algeria pointed out that the group has imposed itself as a standard bearer of southern developing countries in raising their demands on major international issues under negotiation.
Highlighting the achievements of the G77 over the years, Algeria recalled that the group was behind the creation of many multilateral UN mechanisms in charge of development, such as the United Nations Industrial Development Organization (UNIDO), the International Fund for Agricultural Development (IFAD), the Perez-Guerrero Turst Fund for South-South Cooperation, the Common Fund for Commodities and the Global System of Trade Preferences.
Source : APS, 2 July 2014
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