ACD urges counter-recession measures
Asia Cooperation Dialog (ACD) member states have called for adoption of protective measures against the global economic recession, Press TV reported.
"ACD as a mechanism of Asian nations should look for measures to address the consequences of the recession that has been growing throughout the world since 2008 on those member states that are already suffering from its repercussions," ISNA quoted the body's final statement on Tuesday.
Pointing to a fall in trade and investment among ACD member states in the aftermath of the economic crisis, the statement calls for exploring ways to meet food and energy needs given the prospects of a shrinking agriculture sector.
The Asian countries also called for measures to build confidence in financial systems through avoiding protectionism as well as encouraging cooperation of central banks.
They further hailed attempts to provide the private sector with investing opportunities.
Created in June 2002, the Asia Cooperation Dialog is a body which aims to promote Asian cooperation at a continental level.
The 31-member body was founded originally by 18 states but later expanded to include all current members of the Association of Southeast Asian Nations and the [Persian] Gulf Cooperation Council.
The ninth ministerial meeting of the ACD was held in the Iranian capital of Tehran on November 8, 9 while Kuwait has been nominated to host the body's 10th meeting in 2011.