LDCs summit opens in Istanbul

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ISTANBUL, May 9 (Agencies): A five-day UN summit with 48 leaders of the world's Least Developed Countries (LDCs) began in Istanbul Monday to discuss a new 10-year aid plan to help lift nations out of poverty. "Investing in the LDCs can provide the stimulus that will help to propel and sustain global economic recovery and stability," said Ban Ki-moon, the secretary general of the United Nations, in his opening remarks. "This is not a charity, it is smart investment," he added. "It is time to change our mindset, instead of seeing LDC's as the poor and weak, let us recognize these 48 countries as best reservoir of untouched potential. Investing in LDCs is an opportunity for all." Ban stressed the need to support agriculture in LDCs, in which 70 per cent of the population is employed. "The LDCs are facing a real prospect of a new crisis in food and nutrition security," he said. The summit was being chaired by Turkish President Abdullah Gul while the head of the European Commission, Jose Manuel Barroso, was also present at the opening. Prime Minister Sheikh Hasina is leading the Bangladesh delegation at the Conference that also includes Finance Minister AMA Muhtih, Planning Minister AK Khandaker, Industries Minister Dilip Barua, Foreign Minister Dr Dipu Moni, and Civil Aviation and Tourism Minister GM Quader. Up to 10,000 delegates are expected to attend the five-day forum of the LDCs.