ID :
88604
Mon, 11/09/2009 - 14:04
Auther :
Shortlink :
http://m.oananews.org//node/88604
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OIC expected to adopt foreign exchange basket
President Mahmoud Ahmadinejad on Sunday called for adopting foreign exchange basket by the Islamic states.
President Ahmadinejad made the remarks prior for departing for Istanbul to attend the 25th OIC Committee for Economic and Commercial Cooperation (COMCEC).
The president said that such a decision would enable the Islamic states to revive a new monetary system which weakens domination of current currencies which have caused disorder in trade among Islamic states.
The global economic crisis has created numerous problems for world nations, said the president adding that capitalism is now at the verge of collapse.
He said that the current financial system which brings adverse impacts of economic crisis in the industrialized nations to the developing countries is not acceptable.
Reliance upon capitalism cannot help resolve economic issues but promotion of mutual or multilateral cooperation could be considered as a way out of the current problems.
"The economic and cultural common grounds in the Islamic countries have lessened their problems in dealing with global economic meltdown and continuation of such trend would deepen ties and cooperation among them."
He made it clear that the economic cooperation among Islamic states is not satisfactory.
With over one and a half billion population in Islamic states and their share in global economy, science and their rich culture, they should have enjoyed better status in global economy.
President Mahmoud Ahmadinejad led an Iranian delegation to Istanbul on Sunday to attend the 25th OIC Committee of Social and Economic Cooperation (COMCEC).
Ministers from 57 countries and representatives from five observer nations are due to attend the confab.
During his stay, the president is scheduled to confer with a number of high ranking officials of Islamic countries on mutual and regional cooperation.
The Islamic Republic of Iran as the representative of Islamic states in the Asian continent is attending the 25th COMCEC conference in Istanbul.
End
President Ahmadinejad made the remarks prior for departing for Istanbul to attend the 25th OIC Committee for Economic and Commercial Cooperation (COMCEC).
The president said that such a decision would enable the Islamic states to revive a new monetary system which weakens domination of current currencies which have caused disorder in trade among Islamic states.
The global economic crisis has created numerous problems for world nations, said the president adding that capitalism is now at the verge of collapse.
He said that the current financial system which brings adverse impacts of economic crisis in the industrialized nations to the developing countries is not acceptable.
Reliance upon capitalism cannot help resolve economic issues but promotion of mutual or multilateral cooperation could be considered as a way out of the current problems.
"The economic and cultural common grounds in the Islamic countries have lessened their problems in dealing with global economic meltdown and continuation of such trend would deepen ties and cooperation among them."
He made it clear that the economic cooperation among Islamic states is not satisfactory.
With over one and a half billion population in Islamic states and their share in global economy, science and their rich culture, they should have enjoyed better status in global economy.
President Mahmoud Ahmadinejad led an Iranian delegation to Istanbul on Sunday to attend the 25th OIC Committee of Social and Economic Cooperation (COMCEC).
Ministers from 57 countries and representatives from five observer nations are due to attend the confab.
During his stay, the president is scheduled to confer with a number of high ranking officials of Islamic countries on mutual and regional cooperation.
The Islamic Republic of Iran as the representative of Islamic states in the Asian continent is attending the 25th COMCEC conference in Istanbul.
End
