United Nations: Accusing industrialised nations of lack of political will to address the needs of developing countries, Prime Minister Atal Behari Vajpayee unveiled a four-point agenda of action to address the concerns of world's poor.

Listing out the agenda, Vajpayee said United Nations should spearhead the efforts to end the systemic indifference towards poverty by removing asymmetry in trading relations, volatility in global energy markets, unpredictability in global capital movements and sternly dealing with malfeasant corporate practices.

"We have to recognise that developmental divide between the North and the South is becoming wider and deeper by the day. The challenges that face us are stark and there is no alternative to all the countries of the world joining hands to face them together," he said delivering his address at the UN General Assembly.

"We have to find $ 24 billion annually for investment in poor countries if we are to achieve the world food summit goal of halving hunger by 2015," he said adding, "What is lacking is the political will among developed countries to sincerely and speedily address the legitimate developmental needs of the developing countries."

Elaborating his four-point agenda of action, Vajpayee said asymmetry in trading relations between developing and developed nations needed to be addressed by tackling the problem of declining prices of commodities from developing countries and removing all unjustified barriers to their exports.

Extreme volatility in global energy markets has been causing havoc with the trade and fiscal balances of developing countries, he said adding, "This must end."

Thirdly, he said unpredictability in global capital movements, which periodically devastated the economies of developing countries, must be controlled.

Lastly, malfeasant corporate practices, which drain off the natural resources and traditional knowledge base of developing countries without fair compensation must be dealt with sternly, he said.

Touching upon environmental issues particularly global climate change, Vajpayee warned, "The choice before the global community is stark. Either we take urgent steps to protect the environment, or be prepared for far worse natural calamities."

Referring to Johannesburg Summit for Sustainable Development early this month, Vajpayee said, "We emerged from the summit with some encouraging outcomes, but these fell well short of the demands of our time."

He urged United Nations to take up newer and bigger initiatives for effecting closest possible co-operation among nations for harmonious integration of economic, social, political, environmental and spiritual dimensions of development.

Renewing India's offer made last year to co-ordinate a comprehensive global development dialogue, Vajpayee said this was needed urgently to achieve the goal of halving hunger by 2015.

PTI