The Fifth Economic Ministers' Meeting of the Asia-Europe Meeting (ASEM), in session in Dalian in Northeast China's Liaoning Province, is expected to inject new energy into the economic co-operation and development of the two continents.

The meeting is the first major international gathering convened in China since the country accomplished an initial victory against SARS.

At the meeting, participants have so far discussed a series of issues of common concern, such as economic co-operation between the two economic powers, global economic development trends, as well as topics due to be touched upon in the next round of the World Trade Organization ministerial meeting.

They have also conducted extensive and in-depth exchanges on the establishment of a free trade zone, as well as trade and investment liberalization, advancing the process of bilateral and multilateral economic and trade co-operation.

Against the backdrop of a global economic slump, the trans-continental meeting fully demonstrates the two economic entities' strong desire and determination for economic co-operation to boost development.

Economic ministers are scheduled to issue a joint declaration to portray a guideline for economic co-operation when the meeting ends today.

Since its establishment in March 1996, ASEM has served as an important platform for the two continents - which had less political and economic links in history - to promote accord and development in political, economic and trade fields, as well as security.

The original idea of the meeting was to boost economic co-operation and development among ASEM members.

Cross-continental collaboration has made some headway under this framework.

The trade volume between China and ASEM members amounted to US$287.5 billion last year, which was nearly half the total of the country's foreign trade.

However, great efforts are yet to be made to tap the enormous potential in their economic co-operation because ASEM members are strongly economically complementary due to huge differences in economic development levels and scales.

This year's meeting, which has drawn up a map for economic and trade co-operation between the ASEM fold, will inevitably further boost the development of ASEM members and the world as a whole.

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