Asian, European financial leaders meet to boost dynamic cooperation

Under the theme "Strengthening Dynamic Partnership, Sharing Dynamic Growth", the one-day meeting groups finance ministers and high level officials from 46 Asian and European member countries and regions, heads of international organizations, including European Commission, ASEAN Secretariat, World Bank, International Monetary Funds (IMF), European Central Bank (ECB) and Asian Development Bank (ADB).

Aimed at promoting closer cooperation between Asia and Europe and share experiences and prospects regarding economic development, the meeting also helps bolster potentials and strengthen economic, financial and fiscal ties of both regions, Kazinform refers to Xinhua.

Kittiratt Na Ranong, minister of finance of Thailand, said in the opening speech that Asia and Europea have become two major economic powerhouses in the world in this hard turbulent time and the outcome of the meeting will produce solution and create conducive atmosphere for a stronger and stable situation that would set the world economy back on track.

Speaking highly of the cooperation between the two regions, the financial minister said that in 2011, almost 1 trillion U.S. dollars of goods traversed from Asia to European destinations. Meanwhile, more than 600 trillion U.S. dollars of European goods disembarked at Asian ports.

Kittiratt added that by hosting the meeting, Thailand will have the opportunity to learn from knowledge and experiences shared among ASEM members, especially on the recent European financial crisis and their policies and measures imposed to mitigate the crisis.

The ASEM, officially established in 1996 at the first summit in Bangkok, is an interregional forum aimed at strengthening relations between Asia and Europe at all levels.