Developed countries should provide more financial and technological aid to developing countries as a way to help the world's poverty reduction efforts, a senior Chinese diplomat said on Wednesday.

"Poverty elimination is on top of the agenda of the Millenium Development Goals (MDGs). However, there are still 1 billion people living in extreme poverty. We have a long way to go to eliminate poverty," said Li Baodong, Chinese ambassador to the United Nations Office in Geneva.

Addressing a high-level meeting of the UN Economic and Social Council, Li said efficient financial and technological support to developing countries were essential for the realization of the MDGs before the 2015 deadline.

"Lack of capital and technology has long hindered the poverty- alleviation efforts and economic growth of developing nations," Li said.

To address the huge funding shortfall, developed countries should fulfill their commitment of devoting 0.7 percent of Gross National Income to Official Development Assistance, he added.

Li also called on industrial nations to "rise above the short- sighted commercial interests, ease technology monopoly and step up transfer of technology so that some key technologies can be affordable and applicable to developing countries."

The ambassador said that the world needs a true global partnership for development, the core of which lies in common responsibility and cooperation.

While developing countries have the primary responsibility for their own development, the international community should reform the existing international economic system and allow developing countries greater voice and participation.

That is to "ensure sound economic globalization and create an enabling external environment for poverty elimination and economic growth of developing countries," Li said.

Li also called on developed countries to show greater political goodwill to push forward the long-stalled Doha Round of trade negotiations.

As the purpose of the Doha Round is to promote development, " the negotiations should see to it that the developing members get tangible benefits and that the global economy grows in a balanced and harmonious manner," he said.

(Xinhua News Agency July 5, 2007)