ASEM 9 Strengthening Asia - Europe Dialogue, Cooperation and Connectivity

Addressing the opening ceremony, General Secretary of the Lao People’s Revolutionary Party and President Choummaly Sayasone stressed that ASEM 9 is an important event not only for ASEM cooperation, but also for consolidating the trend of dialogue, cooperation and connectivity in the two continents and the world over, especially in the context of rapid and complicated development.

 

The summit witnessed the admission ceremony for three new members, including Bangladesh, Switzerland and Norway, bringing the total number of partners to 51. The leaders affirmed that the joining of the three countries to ASEM proves its attraction, as well as adding strength to and creating a new position for the forum’s cooperation.

 

At the first closed-door meeting on economic - financial issues, the leaders agreed that the world economy continues to see difficulties with slow growth, a deeper public crisis in the Eurozone and the slowing growth of emerging economies. In that context, they affirmed their joint determination to create a new impulse for economic cooperation between the two continents in order to boost a rapid, sustainable, balanced and fair growth. They placed focus on strengthening financial cooperation, connectivity and facilitation of trade and investment, addressing the employment issue, restoring confidence in the market, improving transparency and accelerating the reform of the financial system. The summit expressed support for measures set out at the G20 Summit in Los Cabos (Mexico) to boost growth and job generation as well as changing the growth model. Participants agreed to continue contributing to efforts to reform global economic administration and international financial institutions, especially the International Monetary Fund (IMF) and the World Bank (WB), in the direction of raising the voice and role of emerging and developing economies, as well as supporting a multilateral financial system and the successful conclusion of the Doha negotiation round.

 

Addressing the meeting, Prime Minister Nguyen Tan Dung stressed that in the context of more severe global challenges, the demand for increased cooperation and regional connectivity becomes more urgent than ever. He proposed ASEM create a new momentum for the forum’s economic cooperation pillar through closer coordination of economic - financial policies and stronger implementation of ASEM’s Action Plan on Trade Facilitation Action Plan on Investment Promotion. He said that the ASEM economic ministerial meeting mechanism should be revitalised after nearly 10 years of suspension. During the cooperation process, ASEM needs to pay due attention to development, regional and interregional connectivity and ways to narrow the development gap, and ensure the balance of interests between developed and developing members. ASEM members should speed up experience sharing and cooperation on growth models and green economic development, especially in agricultural and rural development. Besides, with its potentials and position, ASEM needs to continue supporting and contributing the reform of the International Monetary Fund and international financial institutions in a fairer, more democratic and effective manner, and promoting the role of emerging economies and developed nations.

 

He also demonstrated Vietnam’s determination to stabilise and make the macro economy healthier, curb inflation, improve investment environment, develop production and business, renovate the growth model, ensure social security and contribute to the joint efforts of the region and the world.