PRESIDENT TAKES PART IN ASEM SUMMIT'S MEETING

Ulaanbaatar, Mongolia /MONTSAME/ The leader of Mongolia Ts.Elbegdorj is taking part in the 9th Asia-Europe Meeting (ASEM) Summit which began on Monday in Vientiane, Laos. The same day, he attended a first meeting of the Summit. Opening remarks at the Summit was made by Mr Thongsing Thammavong, the PM of Laos and chairman of the 9th ASEM Summit, then leaders of new member-states took the floor. At the Summit's first meeting, the gathered discussed economic and financial matters. Speeches were delivered by state and governmental leaders of Laos, Pakistan, Japan, Italy, Singapore, France, Denmark, Indonesia, China, Thailand and Malaysia, by presidents of the European Council and European Commission. "Asia needs Europe and Europe needs Asia," they highlighted and considered as necessity to co-ordinate the relations and cooperation between Asia and Europe by exploiting their unused opportunities. Europe is in crisis at the moment but it is the big force with united economic market and currency. It is required now to make a reform in the financial system and to create economic balanced growth, the state leaders said. Proposals have been made by them to establish contracts of free trade between Asian and European countries, to abolish discrimination at this sector, to develop green economy, to regulate the macroeconomic policy, to introduce new technologies, to support the regional and multi-lateral cooperation, to strengthen the confidence under a major purpose, and to improve the banking monitoring. After the meeting, the President of Laos Mr Choummaly Sayasone and his spouse Ms Keosaychay Sayasone gave a banquet to the participants of the ASEM Summit. B.Khuder