Istanbul, (SANA) -Syrian Minister of Finance Mohammad al-Hussein called on the developed countries to continue implementing policies seeking to encourage domestic demand, regain trust in the financial system and to tackle weak points in the regulation of financial markets.

"It is necessary that the developing and emerging countries have a vote in the International Monetary Fund," said al-Hussein in a speech delivered Tuesday at the opening session of the International Monetary Fund /IMF/ and the World Bank /WB/ annual meeting on behalf of the Arab governors.

 "The effectiveness and legitimacy of the IMF depends decisively on taking bold steps in this regard."

"This aim should in time lead to more balanced distribution of the voting power in the IMF among the developed and developing countries through increasing the voting power of the latter," al-Hussein added.

He said the IMF and the WB should pay more attention to the Arab countries and have more flexibility in dealing with these countries.

He called on them to continue support to the Palestinian people to enable them to face the repercussions of the Israeli economic blockade, and to rebuild Iraq, restore communication with Somalia, as well as to help unburden Sudan of debt problems.

Al-Hussein added that the IMF and the WB should provide more employment opportunities for the Arab world people in all management positions, particularly in high-level management jobs.

Both al-Hussein and Minister of Economy and Trade Amer Hosni Lutfi participated on Monday in the advisory meeting of the Arab governors of the IMF and the WB.

Minister al-Hussein also held a bilateral meeting with his Turkish counterpart on the economic relations between Syria and Turkey and ways of developing them further. Both sides discussed means of establishing a Syrian-Turkish joint bank, as well as issues of customs coordination between both countries.

Earlier, works of the International Monetary Fund (IMF) and World Bank WB annual meeting started in Istanbul with the participation of 185 countries including Syria.

The meeting works focus on three main topics: ways to overcome the recent global financial crisis, IMF reforms in addition to reviewing the global financial system in order to prevent the recurrence of a financial and economic crisis like the current one.

 Rasha Milhem / Ghossoun /Haifa Said /Mazen