The ASEM (Asia-Europe Meeting)

The ASEM (Asia-Europe Meeting) is a forum of informal cooperationfounded in 1996 and currently comprising 53 members. All EU Member States, 2 European countries (Norway and Switzerland), the European Commission, 21 Asian countries and the ASEAN (Association of South-East Asian Nations) Secretariat are the members of the ASEM.

The main goal of the ASEM is to strengthen the relationships and interregional cooperation in a spirit of mutual respect and equal partnership. The functions of the ASEM are divided into political, economic and social pillars. In the economic pillar the purpose of the ASEM is to adjust to economic globalization, enhance interregional business frameworks, develop innovative ideas in the field of finance, promote the role of the euro and reduce barriers to trade and investment.

The members of the ASEM cooperate in various formats of which supreme is the Summit of Heads of States and Governments that is held every two years and makes strategic political decisions on the course of future development. These meetings are held in Europe and Asia alternately.Meetings of Ministers of Finance of the ASEM member countries are also held every two years.