The meeting approved 16 initiatives, designed to boost cooperation in a wide range of fields, including food security, transport, forest management, water resource, development and education.  It also welcomed Laos’ proposal to host the 9th ASEM Summit in 2012.

During the two-day meeting, the ASEM leaders also discussed ways of strengthening the efficiency of global economic mechanisms, regional issues and measures to enhance the efficiency of ASEM cooperation. They also reiterated their determination to give fresh impetus to cooperation between the two continents.

They also pledged to stimulate growth and encourage models of sustainable development while dealing with weaknesses in the financial system, including high public debts and global imbalance.

They confirmed that the Chiang Mai Initiative in Asia and financial stability mechanisms in Europe are useful tools for supporting countries in financial difficulty.

PM Dung contributed many practical proposals on ASEM 8’s key issues. He urged the international community and ASEM to strengthen cooperation to overcome the global economic crisis and prepare for the post-crisis period.

Vietnam supports the reform of global economic management to more equal, democratic and effective mechanisms, stressed Prime Minister Nguyen Tan Dung. He also requested ASEM member nations to work together to introduce new economic and financial policies to enhance the operational efficiency of G20.

In the context of the post-crisis period, sustainable development has become a major topic for ASEM 8. ASEAN leaders made several important decisions to ensure sustainable development, with a focus on economic development, social development and environmental protection.

PM Dung proposed making ASEM a driving force to boost sustainable development.

He said Vietnam will work with the international community to promote the model of sustainable development, as this is necessary for the socio-economic development process.

Sustainable development is becoming a priority for every country and a global requirement. In this spirit, the PM put forward two initiatives, namely the “ASEM forum on green growth” and the “ASEM forum on social security networks” which were praised by the UK, Germany, the Netherlands, Finland and the Republic of Korea.

Concerning global issues such as natural disasters, security, terrorism, piracy and armed conflicts, the meeting highlighted the role of multilateral institutions and the UN in resolving these issues. ASEM leaders called for closer Asia-Europe cooperation in preventing and combating natural disasters.

As 2010 ASEAN Chair, Vietnam is shifting to a new stage of development towards a goal of forming a self-reliant, dynamic and sustainable ASEAN community by 2015.

ASEAN continues to play an important role in ensuring peace, security and cooperation for development in the region and the organisation has boosted regional economic and trade links with ASEAN+1, ASEAN+3 and East Asia Summit.

He said that with a geographically and strategically important position in the region, ASEAN had become an essential partner for large countries and big trading centres around the world, including ASEM members.

The meeting also discussed specific measures to increase the efficiency of ASEM cooperation and elevate the forum’s status.

After the closing ceremony, European Council President Herman Van Rompuy and the Prince and Princess of Belgium welcomed the Asian-European leaders to a cultural exhibition entitled “The Way to Asia – 2,500 years of Asia-Europe Exchange”.

Earlier, PM Dung met with Chinese Premier Wen Jiabao, Estonian Prime Minister Andrus Ansip, Australian Prime Minister Julia Gillard, Finnish Prime Minister Mari Kiviniemi, Slovak Prime Minister Borut Pahor, Austrian Prime Minister Verne Fayman and the UK’s Deputy Prime Minister Nick Clegg.

They discussed ways of promoting bilateral relations with Vietnam at multilateral and regional cooperation forums. They praised Vietnam’s standing in the region and its management role as ASEAN Chair and said they hoped to develop relations with Vietnam further.

Jiabao said that he will visit Vietnam for the East Asian Summit and other related meetings scheduled to take place this October in Hanoi.

PM Dung congratulated Australia on its admission to the ASEM forum and asked for closer cooperation between the two countries at international forums.

The Australian PM said that all parties need to finalise the action programmes to implement the comprehensive partnership.

PM Dung and his Estonian counterpart said that agreements on investment protection and double tax avoidance need to be signed to boost bilateral economic cooperation.

Deputy Foreign Minister Doan Xuan Hung also met with Hungary’s Chief Advisor on Foreign Policy G.Peter and Malta’s Deputy Prime Minister and Foreign Minister Tonio Borg.