ASEM logo (Source: internet)




Hanoi (VNA) – Economic leaders from Asia and Europe nations have
gathered for the Asia-Europe Meeting (ASEM) in Seoul, the Republic of Korea, to
discuss ways to cope with rising protectionism in trade and to cooperate in the
next industrial revolution.



According
to the RoK’s Ministry of Trade, Industry and Energy, the 7th ASEM
economic ministers’ meeting, which is being held on September 21-22, has seen
the attendance of economic ministers and senior officials from 51 nations.



The main
theme of this year’s meeting is “Reconnecting Asia-Europe: Innovative
Partnership for Inclusive Prosperity.”



The
meeting is expected to provide an opportunity for Asia and Europe to discuss
ways to promote trade and investment, as well as to come up with joint
responses to rising protectionism.



Trade has
been a major driver for economic growth in ASEM partners, the Ministry of
Trade, Industry and Energy said, noting ASEM’s share of global trade increased
from 54 percent in 1995 to 64 percent in 2015.



The changing
industry landscape led by digitalization will also be on the meeting’s agenda,
which requires joint cooperation in enhancing economic connectivity and digital
infrastructure across borders.



For
sustainable and inclusive growth, the policymakers will touch on the fourth
industrial revolution and the new climate framework under the Paris Agreement
aimed at reducing carbon emissions.



ASEM was
established in 1996 to boost ties between Asian and European countries. It now
composes 20 Asian and 31 European nations, as well as the Association of
Southeast Asian Nations (ASEAN) and the European Union.-VNA