Wen calls for closer China-ASEAN cooperation

Premier Wen Jiabao on Friday called for a deepened regional cooperation between China and member countries of the Association of Southeast Asian Nations, or ASEAN, in the wake of global financial crisis.

Since the slowing down of the global economy has had an impact on Asia, China and ASEAN should "deepen regional cooperation with a more pragmatic and open attitude and promote sustained, steady and healthy economic development in China and ASEAN countries," Wen said in his keynote speech at the opening ceremony of the eighth China-ASEAN Business and Investment Summit (CABIS) in southwest China's city of Nanning.

Wen said sovereign debt risks in some countries are rising, while international financial markets are suffering drastic fluctuations and unemployment in major developed countries remains high, leaving emerging economies to deal with inflationary pressure.