G15 summit kicks off in Tehran

18:04, May 17, 2010      

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The 14th summit of the Group 15 (G15) developing nations, kicked off in Tehran on Monday.

At the opening session of the one-day summit, Iranian President Mahmoud Ahmadinejad said, "Today's meeting is held at a time when the world is in dire need of new thought and new way to settle the (global) problems in order to achieve lasting peace and prosperity, " the semi-official Fars news agency reported.

"Due to its potentials, the G15 can play an important and effective role in building the world of friendship, peaceful and just," Ahmadinejad said while expressing hope that Monday's meeting would be an important step to implement those purposes.

The G15 was established at the Ninth Non-Aligned Movement Summit Meeting in Belgrade in September 1989 to focus on cooperation among developing countries in the areas of investment, trade and technology.

It is composed of countries from North America, South America, Africa and Asia with a common goal of enhanced growth and prosperity. The membership of the G15 has expanded to 18 countries, but the name remained unchanged.

Source: Xinhua


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