Dubai Telegraph - G77+China summit in Cuba calls for new global order

EUR -
AED 3.849023
AFN 71.377105
ALL 98.713018
AMD 408.027217
ANG 1.888169
AOA 956.757159
ARS 1045.773778
AUD 1.6014
AWG 1.888888
AZN 1.790592
BAM 1.967019
BBD 2.115265
BDT 125.194055
BGN 1.966739
BHD 0.394852
BIF 3094.650597
BMD 1.047927
BND 1.412054
BOB 7.23929
BRL 6.078989
BSD 1.047676
BTN 88.429063
BWP 14.312633
BYN 3.428555
BYR 20539.367995
BZD 2.111745
CAD 1.460103
CDF 3008.598175
CHF 0.933105
CLF 0.03714
CLP 1024.7943
CNY 7.590121
CNH 7.588128
COP 4600.137266
CRC 533.643681
CUC 1.047927
CUP 27.770064
CVE 110.897513
CZK 25.354598
DJF 186.564084
DKK 7.458169
DOP 63.140125
DZD 140.654233
EGP 51.730874
ERN 15.718904
ETB 128.254711
FJD 2.385029
FKP 0.827147
GBP 0.832195
GEL 2.871238
GGP 0.827147
GHS 16.552408
GIP 0.827147
GMD 74.40309
GNF 9030.506244
GTQ 8.087126
GYD 219.180112
HKD 8.156576
HNL 26.475002
HRK 7.475134
HTG 137.524382
HUF 411.442327
IDR 16707.675541
ILS 3.888244
IMP 0.827147
INR 88.48302
IQD 1372.427756
IRR 44091.525793
ISK 146.374379
JEP 0.827147
JMD 166.901939
JOD 0.743084
JPY 161.400652
KES 135.673827
KGS 90.645742
KHR 4218.058045
KMF 495.144769
KPW 943.133847
KRW 1471.823666
KWD 0.322605
KYD 0.87308
KZT 523.103565
LAK 23012.252297
LBP 93817.093604
LKR 304.919132
LRD 189.098539
LSL 18.905328
LTL 3.094256
LVL 0.633881
LYD 5.116181
MAD 10.539412
MDL 19.10899
MGA 4889.889894
MKD 61.882955
MMK 3403.625819
MNT 3560.855681
MOP 8.399809
MRU 41.685758
MUR 49.095582
MVR 16.200603
MWK 1816.66148
MXN 21.338895
MYR 4.68214
MZN 66.973076
NAD 18.905328
NGN 1778.018417
NIO 38.549872
NOK 11.531786
NPR 141.486983
NZD 1.787143
OMR 0.40329
PAB 1.047676
PEN 3.972658
PGK 4.218058
PHP 61.763748
PKR 290.932457
PLN 4.335792
PYG 8178.647597
QAR 3.820792
RON 5.009395
RSD 117.676176
RUB 108.684182
RWF 1430.15702
SAR 3.934367
SBD 8.785353
SCR 14.355505
SDG 630.325516
SEK 11.490398
SGD 1.407224
SHP 0.827147
SLE 23.819044
SLL 21974.508901
SOS 598.71482
SRD 37.195159
STD 21689.971872
SVC 9.167286
SYP 2632.947722
SZL 18.898791
THB 36.095812
TJS 11.157437
TMT 3.667744
TND 3.328384
TOP 2.454353
TRY 36.229795
TTD 7.115584
TWD 34.145125
TZS 2786.794716
UAH 43.342206
UGX 3871.079021
USD 1.047927
UYU 44.554118
UZS 13440.659923
VES 48.790577
VND 26637.254851
VUV 124.411992
WST 2.925383
XAF 659.719767
XAG 0.033387
XAU 0.000385
XCD 2.832075
XDR 0.796945
XOF 659.719767
XPF 119.331742
YER 261.90314
ZAR 18.881343
ZMK 9432.600526
ZMW 28.941068
ZWL 337.432047
  • SCS

    0.2300

    13.27

    +1.73%

  • BCC

    3.4200

    143.78

    +2.38%

  • GSK

    0.2600

    33.96

    +0.77%

  • BCE

    0.0900

    26.77

    +0.34%

  • NGG

    1.0296

    63.11

    +1.63%

  • RIO

    -0.2200

    62.35

    -0.35%

  • CMSC

    0.0320

    24.672

    +0.13%

  • RBGPF

    59.2400

    59.24

    +100%

  • RYCEF

    -0.0100

    6.79

    -0.15%

  • RELX

    0.9900

    46.75

    +2.12%

  • CMSD

    0.0150

    24.46

    +0.06%

  • JRI

    -0.0200

    13.21

    -0.15%

  • AZN

    1.3700

    65.63

    +2.09%

  • VOD

    0.1323

    8.73

    +1.52%

  • BTI

    0.4000

    37.38

    +1.07%

  • BP

    0.2000

    29.72

    +0.67%

G77+China summit in Cuba calls for new global order
G77+China summit in Cuba calls for new global order / Photo: YAMIL LAGE - AFP

G77+China summit in Cuba calls for new global order

The G77+China, a group of developing and emerging countries representing 80 percent of the world's population, kicked off a summit in Cuba Friday with a call to "change the rules of the game" of the global order.

Text size:

The meeting comes at a time of growing frustration with the Western-led world order amid widening differences over the Russian war in Ukraine, the fight against climate change, and the global economic system.

"After all this time that the North has organized the world according to its interests, it is now up to the South to change the rules of the game," Cuban President Miguel Diaz-Canel said at the opening of the summit.

Diaz-Canel said that developing countries were the main victims of a "multidimensional crisis" in the world today, from "abusive unequal trade" to global warming.

United Nations chief Antonio Guterres is joining some 30 heads of state and government from Africa, Asia and Latin America at the two-day summit in Havana.

At the opening of the meeting he called for a world that was "more representative and responsive to the needs of developing economies", stressing that these countries were "trapped in a tangle of global crises."

The bloc was established by 77 countries of the global South in 1964 "to articulate and promote their collective economic interests and enhance their joint negotiating capacity," according to the group's website.

Today it has 134 members, among which the website lists China although the Asian giant says it is not a full member.

Cuba took over the rotating presidency in January.

Latin American leaders such as Venezuela's Nicolas Maduro, Colombia's Gustavo Petro, and Argentina's Alberto Fernandez were present at the summit, alongside Palestinian leader Mahmoud Abbas, Angola's Joao Lourenco and Mozambican President Filipe Nyusi.

Brazilian President Luiz Inacio Lula da Silva will arrive on Friday night.

- 'Unjust' international order -

China is represented by top Communist Party official Li Xi, who said his country "will always make South-South" cooperation a priority" in its dealings with the outside world.

The meeting should conclude Saturday with a statement underscoring "the right to development in an increasingly exclusive, unfair, unjust and plundering international order," the foreign minister of host Cuba, Bruno Rodriguez, told reporters on Wednesday.

A draft of the closing statement underlines the many obstacles facing developing nations, and includes "a call for the establishment of a new economic world order," he said.

Guterres has recently attended a rash of multilateral summits, including a gathering of the G20 club of major economies in India and the BRICS group that includes Russia.

Ahead of the Havana meeting, Guterres said "this multiplicity of summits reflects the growing multipolarity of our world."

And he warned that "multipolarity could be a factor for escalating geostrategic tensions, with tragic consequences."

The G77 meeting comes after key changes in global blocs.

The African Union has joined the G20 group of the world's most powerful economies, and the BRICS -- Brazil, Russia, India, China and South Africa -- trade group for emerging economies has expanded to admit six new members.

- 'A valid interlocutor' -

The presence of world leaders on its soil amounts to a recognition for the Cuban government even as the country battles its worst economic crisis in 30 years, one analyst told AFP.

"Despite the difficulties of the moment, Cuba has been recognized as a valid interlocutor," said Cuban international relations expert Arturo Lopez-Levy, a visiting professor at the Autonomous University of Madrid.

The communist-ruled island is still under the yoke of US sanctions first imposed in 1962.

Diaz-Canel has in recent months represented the G77+China at several international meetings including a June global financial summit in Paris and an EU meeting in July with Latin American and Caribbean states.

H.El-Din--DT