KATHMANDU: Minister for Foreign Affairs Pradeep Kumar Gyawali addressed this morning the Annual Ministerial Meeting of the Least Developed Countries (LDCs) held virtually on the margins of the 75th session of the United Nations General Assembly.

In his address, Foreign Minister Gyawali underlined the far-reaching socio-economic consequences of the COVID-19 pandemic, climate change and natural disasters to the LDCs, including Nepal, and called for launching of a global stimulus package for the LDCs to be implemented with immediate effect.

"Our focus must be on the unfinished business of the Istanbul Programme of Action (IPOA). It is also a time to reflect upon the gaps between the IPOA and its implementation and identify the bottlenecks that need our introspection," Minister Gyawali said.

Acknowledging the support extended by the development partners, UN, and international organizations, Minister Gyawali emphasized the need to compensate the Overseas Development Assistance (ODA) shortfalls by lifting of trade barriers, debt relief, transfer of technology and scaling up of aid for trade.

He also called for international cooperation and solidarity to ensure that due space and priority are provided to the LDCs' challenges and concerns in the multilateral processes.

A number of ministers from LDCs, friends of LDCs and development partners, and high-level UN officials had participated in the Meeting.

The Meeting adopted a Ministerial Declaration at its conclusion.