President Tebboune emphasizes Algeria’s approach on establishment of new economic order

“I would like to address President of the People’s Republic of China, who sponsored this meeting, to congratulate you as your country chairs the BRICS countries and to welcome your wise choice of the themes on the agenda of this meeting that we dub important, even very important in this situation,” said President Tebboune in his speech, by videoconference, in a high-level meeting of the BRICS countries (Brazil, Russia, India, China and South Africa) and other emerging economies on the global development.

“The tensions and throes shaking the international relations today concern all of us, not only in view of the volume of the global governance and the current challenges facing the efforts aimed at establishing peace, ending conflicts and boosting the development wheel, but also given the dangers of polarization which augur a change of power relations on the international scene and outline the new global order,” added President Tebboune.

For President Tebboune “our past experiences clearly showed us that the imbalance on the international scene and the marginalization of the emerging countries within the different global governance bodies constitute a source of instability, lack of equity and absence of development.”

“These tensions remind us and resurface the supposition suggested by Algeria, nearly 50 years ago, on the necessity of establishing a new economic order that ensures parity and fairness between the countries,” he underlined.

President of the Republic underlined the efforts aimed to restore security and stability in the world, pointing out that he “is sure today that the economic underdevelopment from which suffer several emerging countries isn’t only an internal issue but derives its roots from an obvious imbalance in the structures of the international economic relations and the hegemony exerted by a group of countries,” he said.

“Breaking off with this vicious circle is achieved through the spirit, the principles and the objectives of important resolutions adopted by the international community during the United Nations General Assembly , mainly the resolution n 3201 on the Declaration for the Establishment of a New International Economic Order based on equity and equality in sovereignty, as well as on the mutual and integrated interests and cooperation between all the countries,” he stressed.