Iran General NewsIran blames 'unfair' economic order for global crisis

Iran blames ‘unfair’ economic order for global crisis

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ImageAFP: Iran's hardline President Mahmoud Ahmadinejad accused the United States and other world powers on Wednesday of creating an "unfair" economic order which has triggered the global financial crisis.

ImageTEHRAN (AFP) — Iran's hardline President Mahmoud Ahmadinejad accused the United States and other world powers on Wednesday of creating an "unfair" economic order which has triggered the global financial crisis.

In an opening speech at a summit of the regional Economic Cooperation Organisation (ECO) in Tehran, Ahmadinejad said "the United States and some of its allies are at the centre of the economic crisis."

"Capitalism as a system has failed. The economic order is unfair and irresponsible. Unfortunately nations of the world have to pay the cost of inefficient policies of certain nations."

Ahmadinejad, known for his anti-US tirades, called on ECO members to overcome the "threats" posed by the financial crisis and transform them into "opportunities."

"The threat of unfair international order can be changed to create a safe economic situation for our countries" by developing trade between ECO member states, Ahmadinejad said.

He also called for setting up a common bank of ECO members that can help boost commerce among the members.

Ahmadinejad himself has come under fire in Iran over his expansionary economic policies and fuelling inflation.

The summit of ECO — a regional organisation founded in 1985 by Iran, Pakistan and Turkey — aims to focus on the global financial crisis and its impact on the region.

It is being attended by Afghan President Hamid Karzai, his Pakistani counterpart Asif Ali Zardari and Turkish President Abdullah Gul, along with leaders of other members such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

Iraqi President Jalal Talabani and Syrian Vice President Faruq al-Shara also attended as honorary guests.

Karzai, in his address at the summit, urged ECO members to help Kabul fight drug smuggling.

"I have to accept the bitter truth that my country is the centre of opium production," Karzai said.

"The people of Afghanistan are the true victims of terrorism and there is a direct link between drug smuggling and terrorism. We want the (ECO) members to help us in combating them," he said, adding that Iran has already been doing so.

Iran is suffering badly from the effects of opium production in Afghanistan, with easily available heroin fuelling a rise in drug use.

Shiite Iran, which has close ethnic and religious ties with Afghanistan, has also opposed the Taliban, comprised of Sunni Muslim extremists and backed by Pakistan until the September 11, 2001 attacks on the United States.

Karzai said efforts are being made to "boost ties among members states" of ECO but urged additional cooperation with other Asian countries.

Karzai's visit to Iran has gained added significance amid reports that Iran is considering attending an international conference backed by the United States on Afghanistan later this month.

He is expected to push Iran to attend the conference aimed at helping world powers in restoring stability in his violence-wracked country.

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