The informal dialogue meeting was held one day ahead of the 2003 G8 summit between the G8 leaders and the heads of state or government from China, Egypt, Algeria, Nigeria, South Africa, Senegal, Mexico, Switzerland, Brazil, Saudi Arabia, Malaysia and India as well as leaders of the United Nations, the World Bank, the International Monetary Fund and the World Trade Organization.

In an address to the informal dialogue meeting, Chinese President Hu Jintao put forward a package of proposals for world development and cooperation covering the adoption of resolute steps to boost global economic growth, pursuance of peaceful co-existence and maintenance of diversity of the world, strengthening of multilateral cooperation to promote the establishment of a new world economic order, and the strengthening of support for enriching south-north cooperation.

On the adoption of resolute steps to boost global economic growth, Hu said the increase of global economic growth requires concerted cooperation of the international community and all countries should strive to tap potential for economic development and stimulate the inherent vitality of economic growth while strengthening the coordination of macroeconomic policies, stabilizing their financial markets and maintaining the normal trade order so as to create a favorable environment for global economic growth.

He urged developed countries to adopt practical and effective financial and monetary policies to have necessary structural reform, boost domestic demand, increase import and rebuild market confidence, in order to play an active role in promoting global economic growth.

On pursuance of peaceful co-existence and maintenance of diversity of the world, Hu said steps should be taken to make a full use of the opportunities brought about by the trend of economic globalization to promote the exchange and mutual study of experience among different cultures and different development models in the world, in order to learn from others' strong points to offset weakness in competition and comparison, realize common development in seeking common grounds while reserving differences and inject vigor in global economic development.

Hu said the establishment of a fair and rational new world economic order meeting the requirement of economic globalization conforms to the common interests of all countries.

All countries should manage to maintain the authority of the United Nations and give full play to its leading role in safeguarding world peace and promoting common development, he said, adding that developing countries themselves should be mainly responsible for their own economic development.

The international community should be concerned about the plight of developing countries, extend them necessary support, manage to increase their own capacity for development and help them benefit from economic globalization, he noted.

Developed countries should fulfill their due responsibilities and obligations by further opening markets, eliminating trade barriers and practically meeting their commitments to increasing financial and technical support and debt relief, he said.

All countries should make further efforts to strengthen coordination and consultation and explore the way of forming specific measures and mechanisms, in order to realize the consensus of the international community on development, Chinese president said.

Speaking at the meeting, Brazilian President Luiz Inacio Lula da Silva proposed the creation of a tax on the arms trade to help finance a global fund to feed the hungry population in the world.

Echoing the Brazilian proposal, French President Jacques Chirac said he was supportive of the creation of such a tax.

Such a tax "would not be at all unjustified," Chirac told a press conference after the dialogue meeting.

Chirac announced that France would triple its contribution to the Global Fund for AIDS from 50 million euros (US$59 million) to 150 million euros (US$177 million) a year.

"The United States made a decision that I would not hesitate to call historic," Chirac said, referring to a US initiative to grant US$15 billion over five years for the fight against AIDS. Of this sum of money, US$5 billion will be donated to the Global Fund for AIDS.

According to Chirac, the European Union will make a definitive decision on the issue at the bloc's summit in Greece later this month.

The G8 groups France, Britain, the United States, Canada, Germany, Italy, Japan and Russia.

Later in the day, the G8 leaders also held talks with leaders of the New Partnership for Africa's Development (NEPAD), which groups Egypt, Algeria, Nigeria, South Africa and Senegal.

(Xinhua News Agency June 2, 2003)