May 25, 2011 7:36 PM

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Developing countries must stand united in its efforts to reform global institutions of governance & finance : PM

The Prime Minister Dr, Manmohan Singh has said that developing countries must stand united in its efforts to reform global institutions of governance and finance. Addressing a joint press conference with the chairperson of the African Union and President of Equatorial Guinea Teodoro Obiang Nguema Mbasogo, Dr Singh said that the struggle for the transformation of the global institutions is not a one shot operation and is a long process. He said, there is a need to recognize that international relations beyond a point are power relations and that those who wield power do not wish to yield ground easily.Earlier in his opening remarks at the press conference, Dr Manmohan Singh said the declaration adopted at the Addis Ababa summit and the Africa India framework for enhanced co-operation envisages not only economic and political co-operation but also co-operation in various fields including science and technology, research and development, capacity building, infrastructure and energy. Expressing optimism on the future of the co-operation, the Prime Minister said the similarity of the development experiences and circumstances has made India Africa co-operation a genuine two day street.

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