I have to update the countries list in Magento, So i updated lib/Zend/Locale/Data/en.xml and "directory_country" table.
Now newly added countries are populating in the "Allow Countries" (System >> Configuration >> General >> Countries Options ) dropdown in Magento Admin Panel.
Here, i selected some countries that what my Client Required, but these changes are not effecting in the "Countries of Manufacture" dropdown in the "New Product" Section, Here the "Country of Manufacture" dropdown populating all the countries including newly added countries.
But i need specific countries which are selected From "Allow Countries" Dropdown.