Group of 77 demand fairer new world order

PUBLISHED : Monday, 16 June, 2014, 3:21am
UPDATED : Monday, 16 June, 2014, 3:21am


Developing countries have called for a fairer new world economic order at a Group of 77 plus China summit in Bolivia.

UN Secretary General Ban Ki-moon also spoke to the vast audience that included 30 heads of government and representatives of more than 100 nations.

Ban said the destiny of billions of poor people and the state of the planet depended on their work.

Dignitaries at the event include the presidents of Venezuela, Ecuador, Cuba and host nation Bolivia.

China, which is not a G77 member, participated in the two-day summit, partly in a nod to its expanding trade ties in Latin America. Beijing was represented by Chen Zhu, a vice-chairman of the National People's Congress.

Leaders at the summit were pressing a "fight for fair and sustainable economic growth, and for a new world economic order", Venezuelan President Nicolas Maduro said.

Ecuadorean President Rafael Correa said the global economic system was morally flawed.

"Only when we are united across Latin America and united around the world, will we be able to make our voice heard and change an international order that is not just unfair - it is immoral," Correa said.

The summit closed yesterday with a document Bolivian Vice-President Alvaro Garcia described as "the first draft of the post Millennium Development Goals", a set of UN goals approaching their 2015 expiry date.

Chen met Morales ahead of the summit opening, and pledged an US$80 million loan to modernise Bolivian airline BOA and buy four new planes, Bolivia said.

With massive purchases of commodities and exports of its manufactured goods to the region, China in recent years has emerged as a main trading partner of many Latin American countries.