Stronger Asia-Europe economic cooperation takes center stage at ASEM

 Vientiane, Nov. 6 (Xinhua) -- Pledges for stronger trade promotion¹ as well as reducing protectionism to put the world's economy on a sustainable path was the main focus of the 9th Asia Europe Meeting (ASEM) that concluded here on Tuesday.

Leaders of 51 members, including new entrants Norway, Bangladesh and Switzerland, gathered in the Laos capital for two days to deliberate of issues of mutual² interest in a summit that was largely dominated by global economic issues over regional security concerns.

Ahead of ASEM, analysts³ opined that Europe's leaders will seek financial assistance from Asia to assist in Europe's bailout plan, particularly in attempting to convince China to use its estimated 3 trillion U.S. dollars in foreign reserves.

Yet, there were no specific pledges at the end with leaders only pledging trade and investment increases in broad terms.

Greece's financial troubles were a notable absentee as European Council President Herman Van Rompuy preferred to adopt a "wait and see policy" based on pending⁴ talks with the Euro group tabled for 12 November.

However, it was clear that European leaders were keen to boost confidence in the Eurozone despite its economic woes⁵ and urge Asia to take a positive view of structural⁶ reforms being implemented⁷ in the embattled region.

In particular, Italy's Prime Minister Mario Monti on Monday urged for Europe to be viewed as a region undergoing positive transformation⁸.

Speaking at the plenary sessions, Monti attempted to boost confidence in Europe's flagging fortunes by insisting "Europe is undergoing a transformation process. Asian countries need to understand this and realize it not only in the context of the past year but also the last decade."

His comments came just days after German Chancellor⁹ Angela Merkel and leaders of five global financial organizations warned that the recovery of the global economy is on a "fragile track" and warned that recovery could take as much as another five years.

Europe also strongly criticized protectionism as detrimental¹⁰ to global growth and urged trade partners to reject such policies.

European Commission (EC) President Jose Manuel Barroso told media that his organization is aware that stronger trade with Asia is not the panacea¹¹ for the Eurozone crisis.

Nonetheless he insisted that the EC is engaged in a wide ranging programme centered on establishing Free Trade Agreements ( FTA) with fewer clauses for protectionism and urged Asia to follow the same policy.

In effect the EC's push against protectionism will promote tariff¹² and non-tariff as well as investment protectionism, he noted¹³ in response to a question.

"Europe is pursuing a new generation of FTA's benchmarked on the South Korean agreement. It is important for Asia to move away from protectionism as well because we are the largest market and have fostered development through rejection¹⁴ of protectionism," he said.

As the Chair of the 2014 ASEM European Council President Herman Van Rompuy agreed to continue discussions on many topics including increased regional trade, measures against climate change, commitment to Millennium¹⁵ Development Goals and maritime¹⁶ security that were mentioned in the Vientiane Declaration released at the end of the summit.

China's Prime Minister Wen Jiabao urged Asian and European countries to boost cooperation on energy security, climate change and disaster prevention during his address.

"Energy producers and consumers in Asia and Europe need to work together to formulate¹⁷ a new concept of mutually beneficial cooperation, diversified¹⁸ forms of development and common energy security through coordination¹⁹."

Referring to global financial woes, Wen went on to say that China was returning to a growth trajectory²⁰ and would resolve its economic issues as a way to benefit the downturn facing Europe and the United States.

"We not only have confidence in meeting the development targets set for this year, but also have confidence, conditions and abilities to achieve development of a better quality, at a higher level and in the longer run," Wen added.

He backed free and fair international trade and called for enhanced macroeconomic policy coordination along with a sound global economic governance system to promote growth.

Interestingly, Myanmar emerged further into the global spotlight²¹ holding talks with many European nations including the U. K and Norway as well as Australian Prime Minister Jullia Gillard after the lapse²² of nearly three decades.

Host country Laos benefited strongly from the summit with the European Council pledging to increase development assistance " substantially" from 2014 onwards but declined to mention numbers.

Laos, a landlocked country of 6 million people, is considered to be one of the poorest countries in the world.

During the summit, an agreement to build a 4 billion U.S. dollars rail track that will connect Laos with Vietnam was also signed with a Malaysian company.

Pakistan called for peaceful resolution of regional disputes warning that brewing²³ tensions would prevent the region from achieving its full potential.

Pakistan, the oldest south Asian member of ASEM, highlighted the need to focus on peaceful resolution of differences through dialog at the inauguration²⁴ ceremony.

"The regions potential would remain unrealized if conflict were to return to the region. It is therefore important that regional countries resolve their differences through dialogue. This is the best way to safeguard the hard-won peace. We cannot afford to lose more to conflict," he said.

However, regional concerns such as the South China Sea issue and escalating²⁵ tension between China and Japan did not gain attention during the conference. The Philippines did raise the issue during bilateral²⁶ discussions with the EU and Japan but all sides continued to support a dialogue-based solution.

1 promotion   

n.提升，晋级；促销，宣传

参考例句：

• The teacher conferred with the principal about Dick's promotion.教师与校长商谈了迪克的升级问题。
• The clerk was given a promotion and an increase in salary.那个职员升了级，加了薪。

2 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

3 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

4 pending   

prep.直到，等待…期间；adj.待定的；迫近的

参考例句：

• The lawsuit is still pending in the state court.这案子仍在州法庭等待定夺。
• He knew my examination was pending.他知道我就要考试了。

5 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。

6 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

7 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句

8 transformation   

n.变化；改造；转变

参考例句：

• Going to college brought about a dramatic transformation in her outlook.上大学使她的观念发生了巨大的变化。
• He was struggling to make the transformation from single man to responsible husband.他正在努力使自己由单身汉变为可靠的丈夫。

9 chancellor   

n.(英)大臣；法官；(德、奥)总理；大学校长

参考例句：

• They submitted their reports to the Chancellor yesterday.他们昨天向财政大臣递交了报告。
• He was regarded as the most successful Chancellor of modern times.他被认为是现代最成功的财政大臣。

10 detrimental   

adj.损害的，造成伤害的

参考例句：

• We know that heat treatment is detrimental to milk.我们知道加热对牛奶是不利的。
• He wouldn't accept that smoking was detrimental to health.他不相信吸烟有害健康。

11 panacea   

n.万灵药；治百病的灵药

参考例句：

• Western aid may help but will not be a panacea. 西方援助可能会有所帮助，但并非灵丹妙药。
• There's no single panacea for the country's economic ills. 国家经济弊病百出,并无万灵药可以医治。

12 tariff   

n.关税，税率；(旅馆、饭店等)价目表，收费表

参考例句：

• There is a very high tariff on jewelry.宝石类的关税率很高。
• The government is going to lower the tariff on importing cars.政府打算降低进口汽车的关税。

13 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

14 rejection   

n.拒绝，被拒，抛弃，被弃

参考例句：

• He decided not to approach her for fear of rejection.他因怕遭拒绝决定不再去找她。
• The rejection plunged her into the dark depths of despair.遭到拒绝使她陷入了绝望的深渊。

15 millennium   

n.一千年，千禧年；太平盛世

参考例句：

• The whole world was counting down to the new millennium.全世界都在倒计时迎接新千年的到来。
• We waited as the clock ticked away the last few seconds of the old millennium.我们静候着时钟滴答走过千年的最后几秒钟。

16 maritime   

adj.海的，海事的，航海的，近海的，沿海的

参考例句：

• Many maritime people are fishermen.许多居于海滨的人是渔夫。
• The temperature change in winter is less in maritime areas.冬季沿海的温差较小。

17 formulate   

v.用公式表示；规划；设计；系统地阐述

参考例句：

• He took care to formulate his reply very clearly.他字斟句酌，清楚地做了回答。
• I was impressed by the way he could formulate his ideas.他陈述观点的方式让我印象深刻。

18 diversified   

adj.多样化的，多种经营的v.使多样化，多样化( diversify的过去式和过去分词 )；进入新的商业领域

参考例句：

• The college biology department has diversified by adding new courses in biotechnology. 该学院生物系通过增加生物技术方面的新课程而变得多样化。 来自《简明英汉词典》
• Take grain as the key link, develop a diversified economy and ensure an all-round development. 以粮为纲，多种经营，全面发展。 来自《现代汉英综合大词典》

19 coordination   

n.协调，协作

参考例句：

• Gymnastics is a sport that requires a considerable level of coordination.体操是一项需要高协调性的运动。
• The perfect coordination of the dancers and singers added a rhythmic charm to the performance.舞蹈演员和歌手们配合得很好，使演出更具魅力。

20 trajectory   

n.弹道，轨道

参考例句：

• It is not difficult to sketch the subsequent trajectory.很容易描绘出它们最终的轨迹。
• The path followed by a projectile is called its trajectory.抛物体所循的路径称为它的轨道。

21 spotlight   

n.公众注意的中心，聚光灯，探照灯，视听，注意，醒目

参考例句：

• This week the spotlight is on the world of fashion.本周引人瞩目的是时装界。
• The spotlight followed her round the stage.聚光灯的光圈随着她在舞台上转。

22 lapse   

n.过失，流逝，失效，抛弃信仰，间隔；vi.堕落，停止，失效，流逝；vt.使失效

参考例句：

• The incident was being seen as a serious security lapse.这一事故被看作是一次严重的安全疏忽。
• I had a lapse of memory.我记错了。

23 brewing   

n. 酿造, 一次酿造的量 动词brew的现在分词形式

参考例句：

• It was obvious that a big storm was brewing up. 很显然，一场暴风雨正在酝酿中。
• She set about brewing some herb tea. 她动手泡一些药茶。

24 inauguration   

n.开幕、就职典礼

参考例句：

• The inauguration of a President of the United States takes place on January 20.美国总统的就职典礼于一月二十日举行。
• Three celebrated tenors sang at the president's inauguration.3位著名的男高音歌手在总统就职仪式上演唱。

25 escalating   

v.（使）逐步升级( escalate的现在分词 )；（使）逐步扩大；（使）更高；（使）更大

参考例句：

• The cost of living is escalating. 生活费用在迅速上涨。 来自《简明英汉词典》
• The cost of living is escalating in the country. 这个国家的生活费用在上涨。 来自辞典例句

26 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。