Wednesday, July 29, 2009

Sri Lanka to chair Group of Fifteen

B. Muralidhar Reddy
COLOMBO: Sri Lanka has accepted the Chairmanship of the ‘Group of Fifteen’, a coalition of 18 developing countries established to develop potential for greater and mutually beneficial cooperation among developing countries, especially in the areas of investment, trade and technology, Colombo said here on Tuesday.

The Foreign Ministry said the nation was invited by her predecessor, Iran, to take over the chair at a “critical time in the global economic and financial environment”.

The Group was conceived as a small cohesive body of developing countries, whose composition was fairly representative of the diverse levels of economic development and interests of all developing countries.
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