LAOS: The Asia-Europe Meeting (ASEM) kicks off in Laos with heads of state from both regions meeting to discuss social, political and economic issues

Record ID: 752409

  • Title: LAOS: The Asia-Europe Meeting (ASEM) kicks off in Laos with heads of state from both regions meeting to discuss social, political and economic issues
  • Date: 5th November 2012
  • Summary: VIENTIANE, LAOS (NOVEMBER 05, 2012) (REUTERS) OPENING CEREMONY VENUE
  • Embargoed: 20th November 2012 12:00
  • Keywords:
  • Location: Lao People's Democratic Republic
  • Country: Lao People's Democratic Republic
  • Topics: International Relations,Politics
  • Reuters ID: LVA3ROWJS9LP0HPX3WVN60C9G7Q9
  • Story Text: Members of the Asia-Europe Meeting (ASEM) gathered at the National Convention Centre in Vientiane, Laos on Monday (November 5) to kick off the two-day summit in an opening ceremony.
    The Lao President and host of the summit, Choumaly Sayasone welcomed the more than 40 heads of state in attendance.
    The ASEM members make up more than half of the world's GDP and four of the five largest economies in the world are located in both regions.
    Pakistan's Prime Minister Raja Pervaiz Ashraf told participants his country had been plagued by poverty and that cooperation between the two regions was needed now more than ever.

    "Both Asia and Europe have gone through the financial crisis during the recent years, it is time for both to learn from these harsh realities. The economies of many countries are even today weary of the euro zone economic turbulence," Ashraf said.
    The President of the European Council, Herman van Rompuy, said he was looking forward to strengthening ties.

    "We are currently negotiating a number of free trade agreements with Asian partners. With some of them we already have, with the aim to increase further market access and job opportunities with mutual benefits," said Rompuy.
    Chinese Premier Wen Jiabao warned that while the international financial crisis was not over, Asia remained the most vibrant region in the world while Europe had a "well-developed market system."

    "Over the past four years since the international financial crisis broke out, Asian and European countries have steadily improved domestic economic policies and adopted focused measures to address their prominent challenges and problems," said Jiabao.
    Heads of state from Europe and Asia along with the presidents of the European Council and European Commission as well as the Secretary General of the Association of Southeast Asian Nations (ASEAN) have joined the biennial summit.
    Meetings will include discussions on the global economic situation, examining issues like the European debt crisis and the slowdown of economies in China and India.
    Other topics high on the agenda include strengthening cooperation between the regions and maintaining peace and stability.
    China and Japan are not expected to hold a bilateral meeting in light of the row over disputed islands in the East China Sea.
    ASEM has 52 partners in Asia and Europe and was established in 1996.
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