JAKARTA - Leaders from Asian and African nations met in Jakarta on Wednesday for an Asian-African summit under the theme of "Strengthening South-South Cooperation to Promote World Peace and Prosperity."

Indonesian President Joko Widodo, in his opening speech, called for a new world economic order for the emerging economies.

The management of the global economy could not be left only to the three international financial institutions of the World Bank, the International Monetary Fund and the Asian Development Bank, he said.

"We must build a new global economic order, that is open to new emerging economic powers," Widodo said.

The Indonesian president said the world needed a collective global leadership which was exercised in a just and responsible manner.

Addressing the summit, Chinese President Xi Jinping put forward a three-point proposal on building a community of common destiny for all mankind in line with the time-honored Bandung Spirit of solidarity, friendship and cooperation, which he said remains relevant and potent today.

The first is to boost Asia-Africa cooperation, he said, suggesting that countries on the two continents pursue all-win common development, align their development strategies and translate their economic complementarity into a driving force for common growth.

The second is to expand South-South cooperation, Xi added, pointing out that developing countries, faced with similar missions of speeding up development and improving people's livelihood, need to join their forces and march forward together.

The Chinese president also called on Asian and African countries to beef up cooperation with developing countries in Latin America, the South Pacific and other regions.

The third is to promote South-North cooperation, Xi said, stressing that cooperation between the developing and developed camps should be based on mutual respect and equality.