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This is an archive article published on May 12, 1998

G-15 summit opens

CAIRO, May 11: Leaders and representatives of the G-15 developing nations opened here today their eighth summit which was set to be dominate...

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CAIRO, May 11: Leaders and representatives of the G-15 developing nations opened here today their eighth summit which was set to be dominated by the Asian financial turmoil and efforts to bolster South-South relations.

Egyptian President Hosni Mubarak, whose country is hosting the three-day summit, gave a keynote speech underscoring the importance of coordination and cooperation between member countries and world financial groups.

President Suharto of Indonesia, Alberto Fujimori of Peruand Liamine Zeroual of Algeria Were also set to give speeches focusing on Asia, Latin America and Africa respectively.

India is being represented by Vice-President Krishankant.Indonesian Foreign Minister Ali Alatas, whose country is witnessing bloody riots as a result of the financial turmoil, called for closer South-South relations namely joint ventures and vigorous trade between G-15 members.quot;Our agenda of position in this summit is to secure concrete South-South cooperation to enhance trade and joint ventures,quot; Alatassaid in a statement to state television broadcast shortly before the start of the summit.

quot;Without such concrete and effective effort we will not be able to make use of the potential which we all possess,quot; Alatas added.

 

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