President Mahmoud Ahmadinejad of Iran called Monday evening for establishment of an Islamic economic grouping by Muslim states to confront economic dominance of Western powers. "Selective policies, domination over sources of energy and unfair distribution of wealth originate from big powers economic dominance," said Ahmadinejad in a meeting of Iranian and Algerian businessmen.
The president arrived in Algiers Monday at the head of a high ranking politico-economic delegation.
His two-day official visit is taking place upon an invitation of President Abdelaziz Bouteflika.
Cooperation and coordination of Muslim nations could lead to their economic growth, said the president.
He proposed that "Islamic states can form a powerful economic bloc with the help of an Islamic body such as the Organization of Islamic Conference (OIC)."
Stressing that Iran and Algeria could be "founders" of such grouping with the help of their businessmen, the president assured "Tehran will make its utmost efforts to this end."
Given the fact that Iran and Algeria enjoy rich sources of energy, President Ahmadinejad said, the two capitals could "take big steps to meet the global demands for energy."
