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Somalia Suggests Common Currency For Non-Aligned Movement (NAM) !


KUALA LUMPUR, Feb 21 (Bernama),

A Somali delegate feels that a revitalised Non-Aligned Movement (NAM) should have its own common currency acceptable to all member nations to realise its full potential as the second biggest grouping after the United Nations.

Ambassador Mohamed Osman Omar, who is attending the XIII NAM Summit here, said that another alternative to having a common currency like the Euro of the Eropean Union was for all NAM member countries to accept each other's currency.

"If we don't have our own currency, at least accept the currencies of the NAM member countries. NAM is much bigger than Europe so why not have something like the Euro," he told reporters during a break on the second day of the senior officials' meeting.

He said it would also be beneficial for member countries if NAM were to introduce its own banking system, through which member nations could get financial aid.

It would be very important for the majority of the NAM countries to start thinking about having common policies, a common currency, a single stance on actions, said Omar who is Somali ambassador to India.

He said that these initiatives would make NAM independent and the member countries would not have to seek the help of the developed and powerful nations which would say "we give you grains, you give us your votes".

Omar said it was also important for a revitalised NAM to have its own system of communication. Speaking to Bernama later, he said Somalia fully supported Malaysia's suggestion for NAM to have a permanent secretariat. It was only natural and timely for NAM to have a permanent address as the idea had been floated since 1988, he said, adding that the member countries could take turns to head the permanent secretariat.

On Malaysia's chairmanship of NAM for the next three years, he said Malaysia could produce good results during its tenure. "Malaysia has whatever is necessary to implement NAM's programme. Malaysia is ready and keen to make NAM great. Coupled with the economic possibilities, it will work through (and) forge ahead," he said.

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