(VOVworld) – Cooperation between ASEAN countries, China, Japan, and South Korea has reaped fruit, especially in the areas of finance and food security. This was agreed by foreign ministers from ASEAN countries, China, Japan, and South Korea (ASEAN+3), who convened in Vientiane, Laos, on Tuesday to review their cooperation from 1997, when the mechanism was established, until now.

Foreign ministers of ASEAN countries, Japan, China, and South Korea shake hands at the 17th ASEAN+3 meeting. (Photo: Kyodo/VNA)

The 17^th ASEAN+3 meeting was chaired by Lao Foreign Minister Saleumsay Kommasith and attended by ASEAN’s Secretary General.

Participants hailed the Chiang Mai Initiative Multi-lateralization (CMIM), the ASEAN+3 Macroeconomic Research Office (AMRO),  the Asian Bond Markets Initiative (ABMI), and the Credit Guarantee and Investment Facility (CGIF), which have been strengthened to ensure the regional financial safety network  and regional economic stability. The Ministers reiterated the importance of the ASEAN+3 mechanism to regional peace, stability, and development. They asked for the beefing up of the implementation of the 2013-2017 cooperation work plan and proposals made by the East Asia Vision Group 2 (EAVG II) to boost internal cooperation.