Chinese Minister of Commerce Lu Fuyuan Tuesday urged members of the Asia-Europe Meeting (ASEM) to strengthen economic cooperation and further expand trade ties between the two continents.

At the three-day Asia-Europe High-Level Economic Forum which opened Tuesday morning in the northeast China's port city of Dalian, Lu said that Asia and Europe shared great potential in economic cooperation, which is of vital importance.

Lu acknowledged that the ASEM members, including 15 member nations from the European Union, seven countries from the Association of Southeast Asian Nations (ASEAN), the Republic of Korea (ROK), Japan and China, should adopt more open economic policies to improve mutual investment and trade.

He urged all the members to identify the goals and priorities of economic and technological cooperation to meet the needs of economic development.

The ASEM members should explore the potential of existing mechanisms for cooperation, Lu said, noting that the ASEM, initiated in 1996, had formulated a sound mechanism on customs procedures, sanitation of animal and plants, intellectual property, government purchasing and facilitation of investment.

ASEM members of Asia and Europe should exert utmost efforts to facilitate cooperation between enterprises, Lu said, adding small and medium-sized companies were the priority.

He went on to say that the economic cooperation between ASEM members of the two continents should be based on the pre-condition of respect for the diverse domestic situations and economic development levels.

"The cooperation should be carried out in a pragmatic, progressive and results-oriented manner that will ensure equality and mutual benefit," Lu said.

More than 500 government officials and business people from ASEM members attended the forum.

(Xinhua News Agency July 22, 2003)