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President of Opec 1977-1978 Kuwait Oil Minister Ali Khalifa Al Sabah speaking
Sheikh Zaki Yamani
Ali Khalifa Al Sabah speaking, then he gets up and Oteiba takes his place
Mana Saeed Al Oteriba speaking
Speech begins: The heads of Ministries and heads of delegation, distinguished delegates, during the last few years our organisation has lost considerable grounds and that the revenue of its member states have been eroded by the high rate of inflation and - depreciation while at the same time being blamed for everything under the sun from inflation to recession to currency instability. Reasonable people the world over know better. They know we are the victims not cause of this economic errors.. I will conclude to moving to the agenda and to the subject of electing a new President for our organisation. The floor is open for suggestions, his excellency Sheikh Zaki Yamani.....
then the decision has been unanimously carried and I ask his excellency Mana Saeed Al Oteiba to come and resume the Presidency.
Speech begins: On behalf of our President - and our Government and people I would like to welcome you all to the United Arab Emirates and I wish you a very good stay. The whole world now is watching us and the forecasts is - here they are all waiting for the outcome of our meeting. The international situation and the political and economical fields is more or less dependent on our commodity which we are production and exporting. This is a role which we didn't realise a few years ago until 1973 & 1974 when for the first time we adjusted the prices of our oil...during the period of being the President over our meeting, that's all.
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