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Monday, February 8, 1999

PM seeks parity between developed, emerging nations 

PRESS TRUST OF INDIA  
NEW DELHI, FEB 7: Developed nations should take effective steps to reduce the disparity between them and the developing countries as the gap between them was "widening", Prime Minister Atal Behari Vajpayee said on Sunday.

"It is time that effective steps are taken (by developed nations) to assure developing countries that their interests are looked after," the Prime Minister told reporters at the airport here before leaving for Jamaica to attend the G-15 summit.

Stating that "certain steps have to be taken by developed countries" in this direction, he said India would seek greater coordination between G-15 member states for stabilising the economies of nations affected by "unprecedented" economic crises in the recent past. While almost all countries had favoured economic reforms, such reforms "should not lead to growth of disparity between developed and developing world. The gap is widening," Vajpayee, who would also visit Trinidad and Tobago and Morocco during his eight-day tour, warned. "At a time ofunprecedented economic upheavels in the global economy, particularly affecting the developing countries, greater coordination between G-15 member states can prove to be of mutual benefit," he said. Such coordination would also stabilise the economies ofthe affected nations, many of which were members of G-15, he said. Referring to the recession worldwide, the Prime Minister said the crisis in South Asia "has come as a warning to developing countries."

Vajpayee, who was accompanied by ministers of state Bandaru Dattatraya and KMR Janarthanan, was seen off at the airport by his cabinet colleagues, three service chiefs, members of the diplomatic corps and senior officials. Among the ministers present at the airport were L Kadvani, Yashwant Sinha, Vasundhara Raje and PR Kumaramangalam.

While commerce minister Ramakrishna Hegde and external affairs minister Jaswant Singh would join him at the Montego Bay (Jamaica) for the summit, minister of state for external affairs Vasundhara Raje would reach Morocco duringthe final leg of the Prime Minister's tour. The Prime Minister said New Delhi had taken steps to promote cooperation in the fields of information technology, small scale industry and science and technology which have been its "areas of recognised strength".

Vajpayee said the principle purpose of G-15, which was formed at India's initiative at 1989 Nam summit, was to promote South-South cooperation and project the concerns of developing countries on global economic issues.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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