PHNOM PENH, Nov. 19 (Xinhua) -- Chinese Premier Wen Jiabao on Monday urged better crisis management capacity and infrastructure in East Asia.
He made the remarks while addressing the 15th summit between ASEAN (the Association of Southeast Asian Nations) countries and China, Japan and South Korea (10+3).
Wen arrived in Phnom Penh on Sunday afternoon to attend a series of meetings of East Asian leaders and pay an official visit to Cambodia.
The Chinese premier called on countries in the region to speed up the revision of the Chiang Mai Initiative Multilateralization, a regional currency swap arrangement, so that it could be more powerful in terms of crisis prevention and assistance.
He suggested that the 10+3 macroeconomic research office be promoted to a regional institution, which could elevate its capability to monitor financial activities in East Asia.
Wen also asked countries in the region to actively groom Asia's bond market and explore the possibility of a regional investment bank.
Wen called on the leaders to strengthen policy coordination, expand financing channels, and build convenient and efficient infrastructure networks, which could facilitate customs clearance and movement of people.
For the past 15 years, Eastern Asian nations have seen ever deepening cooperation, which helped revive global economic recovery in the wake of the international financial crisis.
The 13 countries in the region have forged a rather complete cooperation platform, covering a whole range of issues including politics and security, economic and financial affairs, energy, sustainable development, as well as social and culture issues.
Over the years, these nations have made major achievements in maintaining financial and food security in the region, such as the establishment of a 240-billion-U.S. dollar regional foreign exchange reserve, a 700-million-dollar credit guarantee investment facility, and an emergency rice reserve of 870,000 tons.
ASEAN+3 leaders pledge closer partnership on 15th anniversary
PHNOM PENH, Nov. 19 (Xinhua)-- Leaders from the Association of Southeast Asian Nations (ASEAN) and Japan, South Korea and China on Monday expressed their will to forge closer ties during a summit at the Peace Palace in the Cambodian capital of Phnom Penh.
The summit coincided with the 15th anniversary of ASEAN Plus Three (APT) cooperation, a regional mechanism that functions as a coordinator of cooperation between ASEAN and the three East Asian nations of China, Japan and South Korea. Full story
ASEAN+3 leaders meet in Cambodia to chart future cooperation
PHNOM PENH, Nov. 19 (Xinhua) -- The ASEAN+3 (China, Japan and South Korea) Summit was held here on Monday to discuss measures and actions to further enhance cooperation in the future.
The Summit was made between the leaders of the ten-country ASEAN led by Cambodian Prime Minister Hun Sen and the leaders of the +3 countries including Chinese Premier Wen Jiabao, South Korean President Lee Myung-bak, and Japanese Prime Minister Yoshihiko Noda. Full story