Finance ministers from Asia, Europe to meet tomorrow at ASEM
Finance ministers from Asian and European countries, including India's P Chidambaram, are likely to meet here on Monday to discuss ways to help build a stronger and more dynamic partnership, in the wake of the recent financial and economic crisis.
Bangkok: Finance ministers from Asian and European countries, including India's P Chidambaram, are likely to meet here on Monday to discuss ways to help build a stronger and more dynamic partnership, in the wake of the recent financial and economic crisis.
"The ASEM (Asia-Europe Meeting) Finance Ministers Meeting has assumed special importance since it is being organised in the wake of a global economic downturn. Revival of growth in Asia and Europe will benefit all economies and enhance manufacturing technology flow and create new jobs," Anil Wadhwa, India's Ambassador to Thailand, told PTI here.
The Finance Ministers are expected to endorse important recommendations in this cooperative endeavour which will also become an important input into the ASEM summit on November 4- 5, he said.
"India with its enhanced role in the G-20 has a lot at stake in the way this process moves forward. Finance Minister Chidambaram's visit to Bangkok for this meeting reflects the importance we attach to playing our due part in this process," Wadhwa added.
A concept paper by Thailand said that untapped potential for investment and trade between both regions should be addressed and a policy dialogue is needed to encourage more inter-regional flows.
It added that financial cooperation and financial sector supervision should also be deliberated for partnership enhancement and future crisis prevention.
The theme of the day-long 10th ASEM Finance Ministers meeting is 'Strengthening Dynamic Partnership, Sharing Dynamic Growth'.
The ministers and top officials attending the meet will aim to exchange views on global economic and financial developments as well as prospects for Europe and Asia and try to strengthen financial cooperation between Asia and Europe.
The Meet will also try to improve financial sector supervision as well as exchange experiences on regional financial arrangements and the roles of multilateral surveillance; Advance the policy dialogue to further strengthen partnership between Europe and Asia to enhance inter-regional investment and trade potentials.
Ministers and delegates from 46 ASEM member countries and three invited countries; Head of the ASEAN Secretariat and the European Commission; and Head of international organisations, including Asian Development Bank, World Bank, International Monetary Fund and European Central Bank will attend the high profile meeting.