Asia, Europe discuss channels for coping with financial crisis
Developed countries have been urged to quickly formulate detailed action plans to implement the outcomes of the G20 meeting held in London in early countries cope with the financial crisis.
The move was decided on at the 9th Asia-Europe Foreign Minister’s Meeting held in Hanoi, Vietnam, from May 25-26 attended by 45 member countries of the Asia-Europe Meeting (ASEM).
Deputy Prime Minister and Minister of Foreign Affairs Dr. Thongloun Sisoulith, who led the Lao delegation to the meeting, ASEM member countries, were urged to formulate measures to cope with the crisis. In particular, developed countries are required to devise measures to help developing countries address the crisis.
He said developing countries would encounter serious impact from the crisis, which would create obstacles for these countries in pursuing the UN’s millennium development goals.
The meeting agreed to promote trade and commerce between the two continents by pledging that developed countries would open up their markets to more goods from developed countries.
Additionally, the ministers discussed various political issues seeking appropriate solutions to markets such as weapons proliferation and terrorism.
The meeting was entitled “Forging a Closer Asia-Europe Partnership to Address the Financial and Economic Crisis and Other Global Challenges.”
The event proposed to discuss the diverse cultures of the two continents with the aim of enhancing understanding on a basic of respect or each other’s cultures.
“Our cultures are very different; we have to respect and understand the importance of each other’s cultural uniqueness,” Dr. Thongloun said.
The meeting evaluated the implementation of outcomes of the 7th ASEM Summit held last year in Beijing, China.
The meeting approved Australia and Russia as new member of the ASEM. The ASEM was established in 1996.
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