"Cooperation between Asia and Europe has reflected the strategic need of the two continents to rely on each other politically and economically," Tang said yesterday. "The importance (of such cooperation) should not be underestimated."

The ASEM was established five years ago at a time when Europe, after years of sluggish economic development, was eager to increase trade with the booming economies of Asia. Under the ASEM framework, there have been meetings for leaders and ministers responsible for foreign affairs, economics, finance, science and technology.

Since 1996, the 26 members of the ASEM have exerted joint efforts to foster cooperation in trade, environmental protection, education, science and technology as well as encouraging political dialogue.

"Enhancing understanding between Asia and Europe through dialogues based on equality will promote democracy in international relations and contribute to the peace, stability, development and prosperity of the world. It will also help establish a rational international political and economic order," said Tang.

Cooperation between Asia and Europe will assist the development of a multipolar world and will help members make the most of globalization, he said.

Cultural cooperation between the two continents will help maintain cultural diversity, added Tang.

The ASEM members account for 40 percent of the world's population and their economies contributes to about half of the world's gross domestic product.

In what Tang described as "pragmatic and effective" cooperation, the ASEM members have adopted action plans to facilitate trade and promote investment between themselves.

The foreign minister said that cross-continental cooperation should not be restricted to trade and finance, but should also include political dialogues, culture and other fields.

"As a matter of fact, many important international and regional issues, such as globalization, cultural diversity, enhancing the role of the United Nations and the maintenance of global strategic stability, are all topics for Asia-Europe cooperation," said Tang.

Foreign Ministry Spokesman Zhu Bangzao said at Tuesday's regular briefing that under the theme of "enhancing partnership in the new century," foreign ministers of the ASEM members are expected to discuss international and regional issues of common concern over the next two days. They will also talk about ways of implementing cooperative initiatives approved by the Third ASEM Meeting and make preparations for the Fourth ASEM meeting which will be held in Denmark next year, Zhu added.

(China Daily 05/24/2001)