Special Report: The 7th Asia-Europe Meeting
BEIJING, Oct. 24 (Xinhua) -- Following is the full
text of the Statement of the Seventh Asia-Europe Meeting on the International
Financial Situation issued here Friday.
Statement of the Seventh Asia-Europe Meeting on the
International Financial Situation
Beijing, 24 October 2008
1. Leaders attending the Seventh Asia-Europe Meeting
had an in-depth discussion on the current international economic and financial
situation and its trend of development. They expressed concern over the impact
of the spreading international financial crisis on the global economy and in
particular, the severe challenges it poses to financial stability and economic
development of countries in Asia and Europe.
2. Leaders believed that authorities of all countries
should demonstrate vision and resolution and take firm, decisive and effective
measures in a responsible and timely manner to rise to the challenge of the
financial crisis. Leaders expressed full confidence that the crisis could be
overcome through such concerted efforts.
3. Leaders welcomed the measures adopted by countries
and organizations to ensure the smooth running of the financial system and real
economy. They called on the international community to continue to strengthen
coordination and cooperation and take effective and available economic and
financial measures in a comprehensive way to restore market confidence,
stabilize global financial markets and promote global economic growth.
4. Leaders agreed that IMF should play a critical
role in assisting countries seriously affected by the crisis, upon their
request.
5. Leaders were of the view that to resolve the
financial crisis it is imperative to handle properly the relationship between
financial innovation and regulation and to maintain sound macroeconomic policy.
They recognized the need to improve the supervision and regulation of all
financial actors, in particular their accountability.
6. Leaders called on all countries to pursue
responsible and sound monetary, fiscal and financial regulatory policies,
enhance transparency, inclusiveness, strengthen oversight, and improve crisis
management mechanisms so as to maintain their own economic development and the
stability of the financial markets. They agreed that the necessary and timely
measures should be taken to preserve the stability of the financial system.
7. Leaders pledged to undertake effective and
comprehensive reform of the international monetary and financial systems. They
agreed to take quickly appropriate initiatives in this respect, in consultation
with all stakeholders and the relevant international financial institutions. The
International Monetary Fund and other international financial institutions
should bring into play their mandated role in the international financial
system, to help stabilize the international financial situation.
8. Leaders supported the convening of an
international summit on 15 November in Washington D.C. to address the current
crisis and principles of reform of the international financial system as well as
long-term stability and development of the world economy.
9. Leaders agreed to make full use of ASEM and other
cooperation mechanisms to enhance information sharing, policy exchange, and
pragmatic cooperation on supervision and management in the financial sector and
effectively monitor, prevent and respond to financial risks to ensure sustained,
stable and sound economic growth.
Chinese president: Asia-Europe
coop best option for win-win progress
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Chinese President Hu Jintao delivers a
keynote speech "Asia-Europe cooperation best option for win-win
progress" at the opening ceremony of the seventh Asia-Europe Meeting
(ASEM) summit held in Beijing on Oct. 24, 2008. (Xinhua
Photo)
Photo
Gallery>>> |
BEIJING, Oct. 24 (Xinhua) -- Chinese President Hu Jintao
on Friday described Asia-Europe cooperation as the best option of the two
continents for win-win progress under the current circumstances.
"As economic globalization is gaining
momentum, the future of Asia and Europe has been increasingly
tied to the future of the whole world,
and cooperation between Asia and Europe for win-win progress is our best
option," Hu said when addressing the opening ceremony of the Seventh Asia-Europe
Meeting (ASEM).
Chinese premier calls for disaster
relief cooperation mechanism for ASEM
members
BEIJING,
Oct. 25 (Xinhua) -- Chinese Premier Wen Jiabao
on Sunday advocated establishing disaster relief cooperation mechanism among the members of
the Asia-Europe Meeting (ASEM) in a bid to reduce losses to the
greatest extent.
Addressing the second closed session of the
ASEM summit in Beijing, Wen, moderator of the session, called for discussing the
establishment of the mechanism and ways for the cooperation among the 45 ASEM members
on disaster relief.
Asian, Euro leaders start summit in
Beijing with financial crisis topping
agenda
BEIJING, Oct.
24 (Xinhua) -- Leaders from 45 Asian and European nations and organizations
began their summit in Beijing on Friday afternoon, with agenda to be dominated
by tackling the global financial crisis.
Chinese President Hu Jintao delivered a key-note speech at
the opening ceremony after Premier Wen Jiabao gave a red-carpet welcome to the
leaders in the Great Hall of the People in downtown Beijing.
Barroso urges ASEM members to strive
for open markets with rules
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European Commission President Jose
Barroso addresses at the opening ceremony of the seventh Asia-Europe
Meeting (ASEM) summit in Beijing on Oct. 24, 2008.(Xinhua
Photo)
Photo
Gallery>>> |
BEIJING, Oct. 24 (Xinhua) -- European Commission President
Jose Barroso on Friday urged the members of the Asia-Europe Meeting (ASEM) to
work to establish open markets with rules.
"We should firmly resist calls for protectionism,
isolation and economic nationalism. This would only harm us and our prospects
for recovery," said Barroso at the opening ceremony of the seventh ASEM summit.
ASEM summit closed session focuses on
global financial crisis
BEIJING, Oct. 24
(Xinhua) -- The Asia-Europe Meeting (ASEM) summit concluded its first closed
session here Friday evening, with the global financial crisis topping the
agenda.
Leaders and representatives of the 45 ASEM members attended the meeting which lasted two hours.
