Luanda — Angolan Foreign minister, Assunção dos Anjos, Sunday in Luanda, spoke of the need for the Gulf of Guinea Commission to get equipped to curb or lessen the negative impact of the world financial crisis.

Assunção dos Anjos was addressing the opening of the 4th ordinary session of the Council of Ministers of the Gulf of Guinea Commission member States, assigned to prepare the 2nd Ordinary Summit of Heads of State and Government, scheduled for November 25 this year, in Luanda.

To the Angolan official, in view of the signs of aggravation of the recession spectrum in the most developed economies, and the threat of its spread to the emerging economies, the member countries are to design strategies that generate appropriate financial results from the exploration of their natural resources.

He considered as of extreme gravity and actuality the intense financial speculation that triggered a chain reaction in various economies of the world, making the price of the oil barrel "dangerously volatile", with variations in the last 12 months between Usd 147,00 and 54,00.

For this reason, he added, the ongoing session of the Council of Ministers Commission must analyse the impact of the world financial crisis and the drop in the oil price on the economies of the organisation's member countries.

The minister also appealed to the member States to remain united on the need for the establishment of a strong and capable sub-regional organisation that moves steady towards the sustainable development of the peoples and countries of the Gulf of Guinea Commission.

The Commission is an organ for concert among the Gulf of Guinea countries for cooperation and development, prevention of border-related conflicts, economic and commercial matters and exploration of natural resources.

It is the organisation's task to reinforce cooperation and solidarity among member states, create mutual trust, peace and security required for their harmonious development.

Gulf of Guinea Commission was established in 1999 and groups Angola, Democratic Republic of Congo, Nigeria, São Tomé and Príncipe, Gabon, Cameroon and Equatorial Guinea.