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3 NE Asian Gov`ts Agree on Higher Cooperation

Posted December. 15, 2008 10:08,   


President Lee Myung-bak, Japanese Prime Minister Taro Aso and Chinese Premier Wen Jiabao have agreed on state and private cooperation in the political, economic, social and cultural areas.

In their tripartite summit in Fukuoka, Japan, ending Saturday, the three countries said the expansion of currency swap facilities among them is the start.

At the Kyushu National Museum, they adopted four agreements including a joint statement on intensifying the three-way partnership and another on international finance and economy.

Saying strengthening trilateral cooperation can contribute to resolving economic woes not only in Asia but also in the world, the leaders agreed to hold the tripartite summit every year.

Seoul, Beijing and Tokyo will also have regular meetings among foreign ministers, establish a system to tackle the financial crisis by exchanging information and ideas on macroeconomic policies of economic ministers, and push for joint initiatives by setting up an online cyber bureau.

They also agreed to promptly implement follow-up measures to the action plan on financial reform adopted at the last Group of 20 summit, and accelerate efforts to transform the Chiang Mai Initiative, a regional finance agreement, into a multilateral facility to strengthen the region’s crisis response system.