Monday, 15 October 2012

FMs from Asia, Europe to meet in Bangkok today

PTI

BANGKOK

FINANCE ministers from Asian and European countries, including India’s P Chidambaram, are likely to meet in Bangkok 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 said.

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’.

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