Sri Lanka has accepted the Chairmanship of the Group of Fifteen (G-15), a coalition of 18 developing countries established to develop mutually beneficial cooperation among developing countries, especially in the areas of investment, trade and technology.

Sri Lanka's offer to take over the Chairmanship was formally conveyed by Mr. Alireza Moaiyeri, Ambassador and Permanent Representative of Iran to the UNO, Geneva. Sri Lanka was invited by her predecessor, the Islamic Republic of Iran, to take over the helm at a critical time in the global economic and financial environment.

As a founder Member of the G15 initially established at a Summit Level Group of Developing Countries in September 1989, following the conclusion of the Ninth Non-Aligned Summit Meeting in Belgrade, Sri Lanka has been active in the work of the Group at all levels.

The Group was conceived as a small cohesive body of developing countries, whose composition was fairly representative of the diverse levels of economic development and interests of all developing countries.

The current Members of the G15 are Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Islamic Republic of Iran, Jamaica, Kenya, Malaysia, Mexico, Nigeria, Peru, Senegal, Sri Lanka, Bolivarian Republic of Venezuela and Zimbabwe.