ASEM 6

Before the opening of the third closed session, the Chairman of the 10th Asia-Europe Business Forum (AEBF) presented the recommendations of the business community to the ASEM Summit. Main elements included the importance of a resumption of the WTO Doha Negotiations, the promotion of fair competition and a stable regulatory environment, and emphasis on environmentally friendly energy at a reasonable price.

Leaders discussed possible solutions to the state-of-play of WTO negotiations, the spread of different regional and bilateral Trade Agreements, and their compatibility with the multilateral system. Special interest was paid to the needs and interests of developing and least-developed countries. The partners expressed their support for Vietnam's entry into the WTO. 
 
The partners further discussed economic growth opportunities and noted that rapid structural changes are taking place in most economies. To secure balanced and sustainable economic expansion, protectionism must be fought. Leaders emphasised that gaining from globalisation and distributing the benefits to all can be best done through market openness and active structural policies. Basic education, vocational training, and life-long learning are crucial as investments in qualified human resources, a key factor for economic and social development.

At the same time the leaders underlined that active labour market policies are needed. The first ASEM Labour and Employment Ministers' Conference held in Germany was brought up as an important new initiative with a view to taking common action and establishing a forward-looking agenda. The leaders agreed that there is a growing need to focus on the social dimension of globalisation, including issues such as productive employment, decent work, the protection of the rights of all workers, and social cohesion. The IMF quota revision was also noted as a tool to improve global governance structures. 

The partners highlighted the crucial role of the AEBF in forming a bridge between governments and businesses, as well as between businesses in Europe and Asia. In this context they welcomed the Ministerial Meeting on Small and Medium-sized enterprises (SMEs) to held in China. They further reiterated the importance of the Hanoi Declaration on Closer Economic Partnership.