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Europe Hopes ASEM Conveys Confidence in Int'l Financial System
    2008-10-17 00:03:00     Xinhua

The main task of the seventh summit of the Asia-Europe Meeting (ASEM) is to come out with strong and united message conveying confidence that the international financial system can be rebuilt, said the French Ambassador to China in Beijing on Thursday.

"Together Asia and Europe represent roughly 60% of the world GDP, so it will come as no surprise that given the present circumstances, the financial crisis will be a major topic of the meeting," Herve Ladsous said at a press conference.

Participants will look at how international financial institutions are working and try to bring about new solutions, he said. However, Ladsous stressed that consensus on those solutions might not be reached.

When asked about Europe's expectations from the ASEM, Ladsous said there are two expectations.

"One is to protect our financial institutions and the other is to contribute solutions to the global finance problems."

European Commission Ambassador to China, Serge Abou, hoped there would be fruitful discussions on the crisis at the meeting.

"All the European countries have been touched by the crisis," Abou said. "We are having a difficult moment, but we have showed our capacity to react to the difficulties."

Abou said Asia and Europe were in the same boat. He praised China's willingness to contribute solutions to the crisis.

"We are grateful to the organization of the ASEM and the Chinese government for doing good preparatory work," Abou said.

The seventh ASEM set the record for highest participation from European leaders.

According to Abou, the European Commission President Barroso will arrive in Beijing Oct. 23.

The seventh ASEM summit will take place Oct. 24- 25 in Beijing. Leaders and delegates from 45 Asian and European countries and organizations will attend.



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