Asia-Europe Meeting (ASEM) members should adopt more open economic policies in order to facilitate trade and investment between the two continents, said Chinese Minister of Commerce Lu Fuyuan.

Participants listen attentively to Chinese Minister of Commerce Lu Fuyuan at the ASEM High Level Economic Forum in Dalian, July 22, 2003. [newsphoto.com.cn]

"Prioritive fields and goals of economic and technological co-operation should be identified and implemented with emphasis and plan," he said Wednesday at the opening ceremony of the ASEM High Level Economic Forum in the coastal city.

The one-day forum, hosted by Dalian Municipal Government, precedes the two-day Fifth ASEM Economic Minister's Meeting. A dozen economic ministers and senior business officials from ASEM member economies spoke at the forum.

Lu also suggested ASEM members fully tap the potential of present collaborative mechanisms on customs procedures, standards, sanitation with animals and plants, intellectual property rights, government procurement, electronic commerce, labour flow, policy transparency and facilitation of investment.

He noted that ASEM members should encourage and facilitate corporate spontaneity and creativity in deepening bilateral co-operation, and provide opportunities and channels for corporations, and especially small and medium-sized enterprises to develop direct and close contacts.

The Fifth ASEM Economic Ministers' Meeting is also expected to bring forth the new round of World Trade Organization (WTO) negotiations, Lu said.

Belgium Ambassador to China Gaston Van Duyse-Adam, who is a participant of the 5th Asian Europe Economic Ministers Meeting to be opened on Thursday, talks to a Chinese mounted policewoman in Dalian, Northeast China's Liaoning Province on July 22, 2003. [newsphoto.com.cn]

The Dalian summit is expected to be an excellent opportunity for them to reach consensus on certain issues, he said.

Forwarding the new round of WTO negotiations, reviewing the world economic situation and promoting economic co-operation between Asia and Europe are the three main topics of the meeting.

Talking about China's trade relations with the outside world, Lu said China will import over US$1,000 billion worth of goods in the coming three years.

China has decided to quadruple its economy during the 2000-2020 period, he said.

"To achieve this goal, we will open our market wider and intensify our trade and economic co-operation with foreign countries. This will create a market with enormous potential and create great business opportunities for the world."

He said China was invited to host the meeting because the country, with imports of around US$360 billion each year, has contributed greatly to the Asia-Pacific and world economies.

The meeting is an important part of the Asia-Europe Meeting, which was first held in March 1996 to promote political dialogue, economic co-operation and scientific and cultural exchanges.

He said during the meeting, ASEM members are expected to draw a clear roadmap specifying major areas and strategies for economic co-operation, which will enhance economic exchanges and trade among China and other ASEM members.

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