5 leading developing countries meet in L'Aquila

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Leaders from the Group of Five comprising Brazil, China, India, Mexico and South Africa have also met in L'Aquila. They called for coordination in dealing with the global economic crisis, as well as reform of the international financial system. Chinese State Councilor Dai Bingguo attended the leader's meeting on Wednesday on behalf of Chinese President Hu Jintao.

Indian Prime Minister Manmohan Singh, Brazilian President Luiz Inacio Lula da Silva, Mexican President Felipe Calderon, President of South Africa Jacob Zuma and Chinese State Councilor Dai Bingguo (L-R) pose for a group photo in L'Aquila, Italy, July 8, 2009. On behalf of Chinese President Hu Jintao, State Councilor Dai Bingguo attended the leaders' meeting of China, India, Brazil, South Africa and Mexico (G5) on Wednesday afternoon in the earthquake-torn Italian city of L'Aquila. (Xinhua photo)

The five leading developing countries issued a political declaration after the meeting.

They said the world needs a new system of global governance, the construction of which must be based on inclusive multilateralism.

They also said the G5 serves as a positive platform, contributing to the promotion of the interests of developing countries. And that it will continue to actively engage in jointly tackling global challenges.

The declaration also says efforts to address food security, energy security, and other issues of common concern to developing countries should NOT be reduced because of the financial crisis.

On the contrary, the world community must view the crisis as an opportunity to reform the international economic system. And the first step is to fully implement the G20 London Summit Declaration without delay.

They also emphasized that the promotion of equitable and sustainable development for all must be at the core of global efforts.

In light of the threatening social impact of the global financial and economic crisis, the G5 urged developed countries to speedily meet their pledges of assistance to developing nations.

The declaration also said that implementing the outcomes of major world summits is a necessary condition for global recovery. Especially the outcomes from the UN Conference on Environment and Development the Monterey Consensus and the Johannesburg Plan for Implementation.

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