Stronger Asia-Europe economic cooperation takes center stage at ASEM
VIENTIANE. November 6. KAZINFORM Pledges for stronger trade promotion as well as reducing protectionism to put the world's economy on a sustainable path was the main focus of the 9th Asia Europe Meeting (ASEM) that concluded here on Tuesday, Kazinform refers to Xinhua.
Leaders of 51 members, including new entrants Norway, Bangladesh and Switzerland, gathered in the Laos capital for two days to deliberate of issues of mutual interest in a summit that was largely dominated by global economic issues over regional security concerns.
Ahead of ASEM, analysts opined that Europe's leaders will seek financial assistance from Asia to assist in Europe's bailout plan, particularly in attempting to convince China to use its estimated 3 trillion U.S. dollars in foreign reserves.
Yet, there were no specific pledges at the end with leaders only pledging trade and investment increases in broad terms.
Greece's financial troubles were a notable absentee as European Council President Herman Van Rompuy preferred to adopt a "wait and see policy" based on pending talks with the Euro group tabled for 12 November.
However, it was clear that European leaders were keen to boost confidence in the Eurozone despite its economic woes and urge Asia to take a positive view of structural reforms being implemented in the embattled region.
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