Zhu: Economic development primary task for E. Asia
( 2002-11-05 09:05 ) (1 )

East Asian nations should continue giving priority to economic co-operation but at the same time work to expand co-operation in political and security issues to strengthen co-operation mechanisms and to enhance friendly people-to-people exchanges.

"Economic development is the primary task for all East Asian countries," said Premier Zhu Rongji on Monday at the 10+3 summit (the Association of Southeast Asian Nations (ASEAN) plus China, Japan and the Republic of Korea).

ASEAN includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam.

The 10+3 co-operative mechanism, which emerged five years ago amidst the Asian financial crisis, focuses on economic issues, starting with financial co-operation.

Zhu announced at the summit that China will exempt Viet Nam, Laos, Cambodia and Myanmar part or all of their debts to China as part of China's overall Asian debt reduction plan.

While maintaining economic co-operation, Zhu said 10+3 countries should gradually promote co-operation in the political and security fields.

His proposal of holding a ministerial meeting on combating transnational crimes won the support of all participants.

Zhu said East Asian countries should strengthen co-operation mechanisms. The mechanisms for six ministerial meetings have been established within the framework of 10+3, covering foreign affairs, finance, economy and trade, agriculture and forestry, labour and tourism.

The Chinese premier, Japanese Prime Minister Junichiro Koizumi and Prime Minister of the Republic of Korea (ROK) Kim Suk-soo held an informal meeting Monday before the 10+3 summit.

The three leaders agreed that their meeting helped enhance understanding and trust among the three countries and is conducive to the advancement of the 10+3 co-operative mechanism.

Zhu suggested initiating a feasibility study on the launch of a free trade area among the three nations, which may have a positive effect on the promotion of their economic co-operation and on better integration of the East Asian economy.

The Japanese and ROK leaders supported Zhu's suggestions, the foreign ministry spokesman said.

Both Koizumi and Kim expressed their deep concern over the nuclear issue with the Democratic People's Republic of Korea (DPRK), and Zhu explained to them China's principles and stance on the issue.

The three nations all agree that the Korean Peninsula be nuclear-free, peaceful and stable and that the existing problems be settled through peaceful dialogue.