G15 summit concludes in Tehran

A summit of the Group of 15 developing countries has ended in Tehran with Iran handing the group’s rotating presidency to Sri Lanka.

The summit ended with a speech by Iranian President Mahmoud Ahmadinejad.

Sri Lankan President Mahinda Rajapaksa, whose country now holds the rotating presidency of G15, said “collective action” was needed by all member states to face the world’s “current crises.”

The 14th summit of G15 brought together leaders, representatives and policymakers from the group’s current 18 members.

G15, which consists of countries from Asia, Africa, and Latin America, was established in 1989 with the aim of promoting the economic growth and prosperity of member states.