The 15th Non-Aligned Movement (NAM) Summit opened in Sharm El Sheikh Wednesday, seeking more solidarity among developing countries to tackle major international and regional issues including the ongoing world financial crisis.

Cuban President Raul Castro, chairperson of the 14th NAM summit, declared the opening of the 15th summit.

He proposed the summit to observe one minute of silence in memory of the NAM leaders who had passed away since the 14th summit.

During his speech, Castro said NAM has the conviction that all countries in the world should search for effective and justified measures to tackle the current financial crisis.

"The current crisis has originated from rich countries due to their unbalanced and unjust international economic system. We call for the renewal of the international financial system, based on the real participation of the developing nations," he said.

After the speech, Egyptian President Hosni Mubarak was elected by acclamation as chairperson of the 15th NAM summit.

Mubarak appealed for the construction of a new international political, economic and trade system, which is more balanced and equitable.

"This summit is a good opportunity for dialogue," he said, adding that NAM members should make use of this summit to boost solidarity.

In his speech at the summit opening session, UN Secretary- General Ban Ki-moon said, "It is abundantly clear that no country, regardless of size or resources, can solve problems alone. That raises the stakes and the space for the Non-Aligned Movement to shape a better world."

"The NAM's long-standing commitment to development and social justice also resonates today as the world faces a severe economic and financial crisis," he said.

"We must counter this trend. Truly free and fair trade is crucial to stimulating recovery and spurring growth," he added.

Sudanese President Omer al-Bashir, Libyan leader Muammar Gaddafi, Philippine President Gloria Macapagal Arroyo, Dominican President Leonel Fernandez and Belarussian Foreign Minister Sergei Martynov delivered speeches respectively on behalf of the Group of 77 and China, the African region, the Asian region, the Latin American and the Caribbean region, and the European region.

During the two-day summit, leaders of over 100 NAM member countries or their representatives will focus their debate on the summit theme of International Solidarity for Peace and Development.

They are expected to discuss hotspot topics such as the global financial crisis, climate change, the Mideast peace process, food security, energy and nuclear issues.

The leaders are also scheduled to sign the summit's Final Document and Sharm el-Sheikh Declaration, and approve the movement's strategy and action plan for the future three years.

Founded in September 1961, NAM now groups 118 member states, 16 observer countries and 9 observer organizations.

The movement, which represents nearly two-thirds of UN member countries and comprises 55 percent of the world population, focuses on striving for interests of developing countries all over the world.

(Xinhua News Agency July 15, 2009)