Latin America-East Asia forum wraps up in Brazil

Source: CCTV.com | 08-24-2007 15:16

Partial view of the family photo of the ministerial meeting of the III Forum for East Asia-Latin America Cooperation (FEALAC), at Itamaraty Palace, in Brasilia, Brazil. Foreign ministers and envoys from 33 Latin America and East Asian countries Wednesday opened two days of talks to boost fledgling trade ties and build links between the far-flung regions.(AFP/Evaristo Sa)

The third Latin American-East Asian Cooperation Forum has wrapped up in the Brazilian capital Brasilia. Foreign Ministers and Trade Ministers from 33 member countries approved the "Declaration of Brasilia".

They called for a swift and fair conclusion of the Doha Round of talks. The ministers also discussed ways of boosting trade between the two regions.

The last group meeting of the forum was held on Thursday. Brazil's Foreign Minister Celso Amorim and South Korea's Trade Minister Kim Jong-hoon, said the forum highlighted its goal of seeking a fairer international economic order.

The 30-point "Declaration of Brasilia" reaffirms their interest in improving the multilateral trade system. It also highlights their growing concerns about the challenges of globalization.

The stalled World Trade Talks was another major concern of the Forum. The Doha Round came to a standstill mainly because of wrangling between developed countries and poorer nations over removing barriers to trade in farm products and manufactured goods.

New talks are expected to get underway in September in Geneva. Foreign Ministers and Trade Ministers from Latin America and East Asia have agreed that the two regions need to work together to facilitate the swift and fair conclusion of the Doha Round.

They released a statement regarding trade and investment cooperation between the two regions. Latin America currently represents only three percent of East Asia's total commerce and trade volume. But both sides believe that prospects are promising.

During the Forum, the Dominican Republic was formally admitted as a new member. Haiti, Surinam and Guyana are expected to join soon.

The Forum was founded in Chile's capital Santiago 6 years ago.

Editor:Du Xiaodan