Bangladesh caretaker government's Foreign Adviser Dr. Iftekhar Ahmed Chowdhury on Sunday said that representatives of the 50 Least Developed Countries (LDCs) of the world should also have a seat in the global economic summits in the future.

Speaking to journalists on Sunday, he welcomed the inclusion of developing countries like Brazil, China and India in the G20 summit held in Washington of the United States to address the current global economic crisis.

"There is a huge chunk of people from LDCs, who are being left out. Their impediments to development are structural, and unless these are removed by consultations among top global leadership, millions of the worlds poorest will continue to suffer," he said.

The adviser said, "what you really need to address the issues is ideas, and ideas are not a monopoly of the wealthy nations. In fact thoughts and concepts like micro-credit and non-formal education emanating from Bangladesh are really changing the world."

He urged that global leaders take note of this fact.

Referring to the global financial crisis, he said Bangladesh has largely managed to escape its worst effects so far.

"This is because our banking system is indeed better regulated with adequate capital-asset ratio, and our real economy is engaged in sectors that are so far insulated," he said.

"But we cannot remain complacent because we live in an interdependent, globalized world. The government has to remain ever vigilant with appropriate policy response as and when need arises," Iftekhar Chowdhury said.

(Xinhua News Agency November 17, 2008)