DAP: The breaking news in Cambodia: “FTA negotiations among China, Japan, S. Korea launched” plus 9 more

PHNOM PENH, Nov. 20 (Xinhua) -- Trade ministers from China, Japan and South Korea announced here Tuesday the launch of the FTA talks on the occasion of 21st Summit and Related Summits.

A press statement issued on Tuesday said, "Following the leaders' Join Declaration at the Fifth Trilateral Summit Meeting in Beijing on 13 May 2012, Mr. Chen Deming, minister of commerce of the People's Republic of China, Mr. Edano Yukio, minister of Economy, Trade and Industry of Japan, and Mr. Bark Tae Ho, minister for Trade of the Republic of Korea, met in Phnom Penh, Cambodia on Nov. 20 on the occasion of 21st Summit and Related Summits, and announced the launch of the FTA negotiations among China, Japan and Korea."

The ministers further decided that the first round of the trilateral FTA negotiations would be held in early 2013.

BEIJING, Nov. 20 (Xinhuanet) -- China has called on the U.S. to take a constructive role in the Asia-Pacific, saying China is ready to work jointly toward promoting the region's peace, stability and prosperity.

Hua Chunying, spokeswoman of Chinese Foreign Ministry, said, "China pursues an Asia-Pacific perspective featuring openness, inclusiveness and mutual benefit. China hopes the U.S. will play a constructive role in Asian-Pacific affairs."

The remarks came as U.S. president Barack Obama tours the Asia-Pacific in his first foreign trip since being re-elected. Hua said China has noticed the U.S.'s increased focus on economic cooperation in the region and is glad to see a strategy that is more in line with the times. She added that all regional countries share an interest in peace, development and cooperation.

PHNOM PENH, Nov. 20 (Xinhua) -- China will continue to be an important engine for the regional and global economies, Chinese Premier Wen Jiabao said at the seventh East Asia Summit (EAS) here on Tuesday.

The Chinese economy is becoming more stable and is expected to maintain relatively fast growth and develop at a higher level, Wen said.

The EAS members should make great efforts to do their own business well, and be all the more mindful of potential perils and responsibilities, make more powerful policies and measures to deal with the international financial crisis, stabilize finance, revive their economies, increase employment and improve the people's livelihood, he said.

These are the most direct and efficient ways to contribute to regional development, he said.

The international community is concerned about the slowing momentum of the global economic recovery, with growing factors of instability and uncertainty, Wen said.

The EAS is aimed at unity and cooperation, he said, noting its members should actively address the common concern of the international community and bring confidence and hope to the world.

The EAS should create a cooperative atmosphere in favor of dialogue, consultation and win-win results, he said.

The Asia-Pacific is characterized by outstanding diversity, with  differences and problems between countries hard to avoid, he said, adding it is believed the countries concerned could properly deal with differences through dialogue.

China has always advocated mutual respect and understanding, and cementing peaceful relations by upholding good faith, he said, adding China is willing to continue to play a responsible role in peace, stability and development in East Asia.

China fully supports efforts of the Association of Southeast Asian Nations (ASEAN) to push forward the building of the Regional Comprehensive Economic Partnership (RCEP), Wen said.

The RCEP is of great significance as it reflects the consensus of the countries of the region and gives a clear direction for regional economic integration, he said.

Wen called on all countries to grasp new opportunities created by the regional integration process, pursue free and fair trade policies, stick to open markets and firmly oppose all forms of protectionism.

The 7th EAS opened here Tuesday with the presence of leaders from the 10 ASEAN member states and eight dialogue partners as well as the heads of several international financial institutions.

Negotiation on the RCEP will be officially launched at the end of the summit by leaders of the ASEAN nations and six key Asia Pacific countries: China, Australia, India, Japan, South Korea and New Zealand.

PHNOM PENH, Nov. 20 (Xinhua) -- China will continue to be an important engine for the regional and global economies, Chinese Premier Wen Jiabao said at the seventh East Asia Summit here Tuesday.

The Chinese economy is becoming more stable and is expected to maintain relatively fast growth and develop on a higher level, Wen said.

Members of the East Asia Summit should make great efforts to do their own business well, and be all the more mindful of potential perils and responsibilities, make more powerful policies and measures to deal with the international financial crisis, stabilize finance, revive their economies, increase employment and improve the people's livelihood, he said.

These are the most direct and efficient ways to contribute to regional development, he said.

Phnom Penh, Nov. 20 (Xinhua) -- A senior executive of the International Monetary Fund (IMF) on Tuesday called on Asian countries to expand trade and investment on their own account to realize economic stability and sustainable development.

Addressing the East Asia Summit here, IMF Deputy Managing Director Naoyuki Shinohara expressed optimism about economic development in Asia, but pointed out that Asia is still facing the risks of the middle income trap, economic slowdown, population aging and economic rebalancing.

Asian countries should work on their own to expand trade and investment so as to maintain economic stability for sustainable development, he stressed.

On the role of China, Shinohara said, the expansion of the Chinese consumer market has brought tremendous benefits for the country's trade partners, which will help promote trade and economic integration of the region and bring major opportunities to other Asian countries.

PHNOM PENH, Nov. 20 (Xinhua) -- The 7th East Asia Summit (EAS) kicked off here Tuesday, bringing together leaders from 10 ASEAN member states and eight dialogue partners as well as heads of some international financial institutions.

The annual forum, which comprises plenary session and retreat session, is expected to highlight six priority areas for cooperation, including energy and environment, education, finance, global health issues and communicable diseases, disaster management and ASEAN connectivity.

Cambodian Prime Minister Hun Sen said in his opening address that the summit took place at a time when the world is still facing economic uncertainties and other challenges such as soaring oil prices, food security, natural disaster and cross-border crimes.

"These obstacles cannot be tackled in regional level, but need closer cooperation, comprehensive and deep approaches in both regional and global level," Hun Sen said, adding that in this context, constant cooperation and deeper integration among participating countries in the EAS would be the best way to address these problems.

A Chairman's Statement will be adopted as the outcome of the summit.

It is the second time the United States and Russia join the summit after both of them were admitted to the regional forum in 2011.

Negotiation on the Regional Comprehensive Economic Partnership (RCEP) will be officially launched at the end of the forum by leaders of both ASEAN nations and six key Asia Pacific powers, including China, Australia, India, Japan, South Korea and New Zealand.

Through the RCEP, "ASEAN's five existing free trade agreements with six countries (China, Japan, South Korea, India, Australia and New Zealand) in the region would be brought under one umbrella agreement," according to ASEAN Secretary-General Surin Pitsuwan.

The EAS, committed to East Asia integration, provides a valuable opportunity for leaders to engage in key strategic, political and economic issues of common concern.

PHNOM PENH, Nov. 20 (Xinhua) -- China and Australia should accelerate bilateral free trade pact negotiations and support cooperation among their enterprises in energy and mining, Chinese Premier Wen Jiabao said Tuesday.

Wen was speaking during a meeting with Australian counterpart Julia Gillard as part of a series of meetings of East Asian leaders here.

With deepening economic interdependence amid the global financial crisis, China and Australia should promote the diversification of economic and trade relations, Wen said.

The two countries should broaden cooperation in services, agriculture, animal husbandry, clean energy, energy efficiency, environmental protection and infrastructure construction, he said.

Since China and Australia established diplomatic ties 40 years ago, the two countries have enjoyed a comprehensive relationship and closer connections based on mutual interests, Wen said.

China is willing to enhance communication and cooperation with Australia, strengthen security and strategic mutual trust and promote the inclusive, sustainable and diversified development of the Asia Pacific region, he said.

Gillard said Australia and China have enjoyed a relationship of growing maturity and great achievements in cooperation in a variety of areas in the past 40 years.

Australia would maintain high-level exchanges with China, establish and improve dialogue mechanisms, expand cooperation and promote bilateral ties based on mutual respect and win-win outcomes, Gillard said.

PHNOM PENH, Nov. 20 (Xinhua) -- Asia's emerging markets need to diversify sources of growth while advanced economies gradually rebuild their balance sheets, Asian Development Bank (ADB) President Haruhiko Kuroda said Tuesday.

"Tomorrow's successful economies will focus on effectively transforming themselves through growth that reaches more people, especially the poor," Kuroda addressed the Association of Southeast Asian Nations (ASEAN) Global Dialogue at the Peace Palace in Phnom Penh. "Growth must be more inclusive, green and knowledge-led."

The first ever ASEAN Global Dialogue brought together leaders and key officials from ASEAN and East Asia countries, as well as development partners, to explore challenges and discuss solutions to a range of issues facing the region, including the ongoing global financial crisis, climate change, conflicts, and food and energy security.

While global growth remains sluggish, developing Asia is in better shape with 6.1 percent growth expected this year, Kuroda told participants, adding that ASEAN economies have shown particular resilience.

With 420 million Asians entering the labor market by 2030, job creation will remain a daunting challenge for the region, he said, adding that infrastructure development is essential to job creation efforts, and in response to ASEAN's massive infrastructure needs, the ASEAN Infrastructure Fund was created earlier this year.

Kuroda also noted that freer trade and greater macroeconomic cooperation within the region will enhance efficiency, strengthen stability and sustain growth.

The ASEAN Global Dialogue was held back to back with the 21st ASEAN Summit and related Summits.

Addressing the opening ceremony of the dialogue on Tuesday, Cambodian Prime Minister Hun Sen, chair of ASEAN in 2012, said that ASEAN economies remain resilient despite the world has not completely got out of the global financial crisis.

However, he warned that the bloc will be inevitable from the consequences of the crisis if the global economy is still weak.

"The dialogue is very important to reflect the rising role of ASEAN in interactions to determine economic policies in the region and the world," Hun Sen said.

PHNOM PENH, Nov. 20 (Xinhua) -- Chinese Premier Wen Jiabao discussed bilateral relations with U.S. President Barack Obama on Tuesday on the sidelines of the seventh East Asia Summit in Cambodia.

Wen said the Sino-U.S. relationship is now one of the most important bilateral ties in the world, adding that maintaining its steady, healthy and stable development conforms to the fundamental interests of both countries and peoples and is conducive to peace, stability and prosperity in the Asia-Pacific and the world at large.

He voiced hope the two countries would deliver positive messages to the world, such as they persisted in: promoting the bilateral cooperative partnership based on mutual respect and mutual benefit; exploring the construction of new relations between big powers; and consolidating and enhancing bilateral mechanisms, including the Strategic and Economic Dialogue, the High-level Consultation on People-to-People Exchange and the Strategic Security Dialogue.

The two countries should also show the world they would continuously strengthen economic and trade cooperation, deal with difficulties and settle differences through large-scale economic and financial cooperation, and intensify communication and consultations on international and regional affairs, especially on cooperation in the Asia-Pacific, Wen said.

For his part, Obama said he is committed to working with China as U.S.-China cooperation is of vital importance to the security and prosperity of the Asia-Pacific and the world.

The United States and China, the two largest economies in the world, shoulder special responsibilities and play an important and leading role in promoting economic balance and sustainable development in Asia and the world, he said.

It is very important for leaders of the two countries to maintain contact and communication on global and regional issues of common concern, Obama said, adding Washington is willing to further enhance the ties.

Leaders of the 10 members of the Association of Southeast Asian Nations (ASEAN), plus Australia, China, India, Japan, New Zealand, the Republic of Korea, Russia and the United States will attend the East Asia Summit to be held here Tuesday afternoon.