Paves way for new Global order:

‘Financial crisis makes countries more equal’

RIO DE JANEIRO: Brazil’s President Luiz Inacio Lula da Silva, who is visiting Kazakhstan, said on Wednesday that the international financial crisis made countries more equal and paved the way for a new global order.

“I want to say that before the crisis, there were many countries that had greater significance than others, and some countries which had no significance at all,” he was quoted as saying by local media.

“After the crisis, everyone has become similar. We have the possibility to create a new world order and together we should improve our relations,” he said after meeting with Kazakhstan’s President Nursultan Nazarbayev. Lula also said that he believes the moment calls for a reform in the United Nations and for the strengthening of international financial institutions such as the IMF and the World Bank. It is the president’s first official visit to Kazakhstan.

The two countries have a bilateral trade of only 50 million U.S. dollars, which is small but has enormous potential, Lula said.

During his meeting with Nazarbayev, Lula announced that Brazil will send a business mission to Kazakhstan in September, led by the Trade, Industry and Development Ministry.

Additionally, the Brazilian Ministry of Mines and Energy will discuss with the Kazakh government about cooperations in the oil and biofuels area.

Thursday, Xinhua