Lebanon to host Asian meeting of Group of 77

For the first time, Lebanon will host a meeting of the Asian countries in the Group of 77, which is to be held on the level of ministers of trade, finance and development on August 11 - 13 at United Nations headquarters in Beirut.

Lebanese Minister of Trade and Economy Nasser Saidi said in a press conference held yesterday to announce this meeting that it will be in preparation for the 10th meeting of UNCTAD (United Nations Conference on Trade and Development) in the year 2000, expressing that convening the meeting in Beirut is a confirmation of Lebanon's restoration to its role in world trade.

He added that the meeting will discuss the issue of the Asian crisis, which led to decreasing the investments and flow of funds in many countries, especially developing countries, in addition to discussing development strategies.

The number of countries members in the Group of 77 has increased to 133 countries, but the group kept its original name for its historic significance, which includes the wider alliance of developing countries in the United Nations.