Mexican president demands sounder economic basis at Davos forum

Mexican President Felipe Calderon said Friday in Switzerland that the global financial crisis called for building a sounder, healthier basis for the development of the world economy, local media reported.

While participating in the annual meeting of the World Economic Forum (WEF) in Swiss ski resort Davos, Calderon proposed reforms of the international financial institutions so as to better adjust to the reality of the global economy, Mexico's presidency office said.

Calderon said such reforms would not only be conducive to the welfare and economic development of each country, but also to the peace, security and cooperation which may benefit everyone's livelihood.

Multilateral institutions must be stronger, and it must be a priority to assure the capabilities and efficiency of the United Nations, he said.

Calderon also said he would seek to strengthen the role of the United Nations in the construction of a new climate regime during the next UN climate change conference to be held in Cancun, Mexico in late 2010.

<i>Source:Xinhua</i>