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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: Global crisis dominates developing world summit AFP - Thursday, July 16 SHARM EL-SHEIKH, Egypt (AFP) - - More than 50 heads of state from the developing world were gathering in the Egyptian resort of Sharm El-Sheikh on Wednesday to discuss the impact of the global economic meltdown on their nations. ADVERTISEMENT Cuban President Raul Castro called for a new world financial order, saying the crisis had hit developing nations hardest in a speech at the opening session of the Non-Aligned Movement (NAM) summit. "Every country in the world must seek just solutions to the global economic crisis," Castro told the 118-member body at the gathering at this Red Sea resort. "We call for a new monetary and economic world order... we must restructure the world financial system to take into consideration the needs of developing countries." But the developing world's military ambitions looked set to steal the limelight, with nuclear-armed South Asian foes India and Pakistan to discuss relaunching stalled peace talks on Thursday. The fraught relationship between New Delhi and Islamabad deteriorated after the deadly attack on the Indian commercial capital of Mumbai last November which left 166 people dead. India blamed the attacks on the banned Pakistani militant group Lashkar-e-Taiba, and Pakistan has acknowledged they were partially planned on its soil. Indian foreign secretary Shiv Shankar Menon met his Pakistani counterpart Salim Bashir on Tuesday ahead of talks between Indian Prime Minister Manmohan Singh and Pakistani Prime Minister Yousef Raza Galani. Singh has voiced hope that Pakistan will promise action against those behind the attacks when he meets Gilani for only the second high-level contact between the two sides since the Mumbai bombings. The attacks left in tatters a fragile peace process launched in 2004 to resolve all outstanding issues of conflict, including a territorial dispute over the divided Himalayan territory of Kashmir. India, along with host Egypt, is one of the founding members of the NAM, the largest grouping of countries outside of the United Nations, which seeks to give a voice to the developing world. The summit will "provide for a chance for discussions over the international economic crisis, which first started in the industrialised countries, and greatly impacted the developing countries, especially Africa," Zimbabwe Foreign Minister Simbarashe Mumbengegwi said on Tuesday. He said industrialised states "should not be given free rein to manage such a crisis". Egyptian Foreign Minister Ahmed Abul Gheit said on Monday the summit aimed for "a new international order... in which nations (are not judged) by their size or military and economic capabilities." Founded in 1955, NAM's 118 member states represent around 56 percent of the global population. NAM states consider themselves not formally aligned with or against any major power bloc. Set up during the Cold War, the movement sought to distance itself from both the Western and Soviet blocs, but today its raison d'etre is questioned after the collapse of the Soviet Union and the ensuing shift in power politics. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Asia Pacific Global crisis dominates developing world summitAFP - Thursday, July 16 Beijing warns Chinese in Algeria over Qaeda threatAFP - Thursday, July 16 Clashes 'kill 14' as Pakistani displaced head homeAFP - 2 hours 37 minutes ago UN discuss sanctions to target NKorean individualsAFP - Wednesday, July 15 Australia swine flu passes 10,000, prefers 'young'AFP - Wednesday, July 15 Enlarge Photo Global crisis dominates developing world summit Most Popular – Asia Pacific Viewed Jackson wasn't ready for London comeback: father Bangladesh crackdown on 'kings of genies' Goldman Sachs execs sold $700m of stock: report Jackson 'best father' ever, daughter tells the world Miniskirts, cleavage upset male SKoreans: survey View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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