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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Full Coverage Sitemap Europe seeks closer role with Asia giants AFP - Tuesday, October 5 Send IM Story Print Europe seeks closer role with Asia giants BRUSSELS (AFP) - – Europe sought a heightened global role with Asia's emerging giants on Monday at talks ranging from trade to climate change between nations representing more than half the world's population. The two-day Asia-Europe Meeting (ASEM) of 46 nations, followed by separate EU summits with China and South Korea on Wednesday, opens amid renewed tension between Beijing and Tokyo over disputed islands in the East China Sea. Chinese Premier Wen Jiabao, indisputably star guest of the talks, could hold a face-to-face with Japanese Prime Minister Naoto Kan to ease the dispute, diplomats said. For the European Union, the get-together of dozens of heads of state and government in the gilded Goya-hung halls of the Belgian royal palace, opens a window of opportunity to strengthen ties with the Asia region at a key time of fast global change. "I am convinced that a strong Europe is irreplaceable," Wen told the Greek parliament on the eve of his arrival in Brussels. "China wants to promote and strengthen strategic links with the European Union." During his visit to debt-crippled EU member Greece, the Chinese leader held out proof of willingness to bond with the the 27-nation union -- pledging to support the euro and maintain European bonds that are part of Chinese foreign exchange reserves, the world's biggest. "We have stayed at Europe's side to overcome the crisis and to allow the recovery," said Wen. Economic issues are expected to dominate the meeting of ASEM nations, which represent 60 percent of the world's population and global trade. But the informal talks, accompanied by a slew of bilaterals, parallel visits to NATO headquarters and contacts between business leaders, will also touch on piracy at sea, terrorism, nuclear weapons, human rights and climate change. ASEM, which meets every two years, groups the EU, the 10-member Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, India, Pakistan and Mongolia, and new members Australia, New Zealand and Russia. On the economic front, reform of the IMF will feature high on the agenda after the EU last week signalled willingness to cede some power at the international lender to emerging powers, which say Europe is over-represented. Europe has been under pressure to offer a deal ahead of the November 11 start of the G-20 meeting of economic powers in Seoul and is ready to discuss giving up two of its nine seats while rotating others on the 24-member board. "At that (G20) meeting, Australia does want to see progress made particularly on the question of restructuring of the IMF," Australian Prime Minister Julia Gillard said after talks with Jose Manuel Barroso, president of the EU Commission. The EU summit with China could reveal tensions following European and US charges that Beijing deliberately keeps its yuan currency undervalued to gain a trade advantage. The EU is also expected to raise concerns about human rights in China. On climate change, ASEM leaders will share the goal "of reaching urgently a fair, effective and comprehensive legally binding outcome," according to a draft statement obtained by AFP. "Deep cuts in global emissions are required" to ensure the increase in global temperature remains below two degrees Celsius (3.6 degree Fahrenheit), it says. The ASEM summit coincides with a final preparatory meeting in the northern Chinese city of Tianjin for UN climate talks opening in November in Cancun, Mexico. Hopes are low that any binding deals on cutting greenhouse gas emissions can be reached in Cancun amid lingering bitterness following the Copenhagen summit in December which failed to secure emissions-reduction commitments. Recommend Send IM Story Print News Search Top Stories Health giant Sanofi-Aventis launches bid for Genzyme Europe seeks closer role with Asia giants Big Swiss banks 'must face tougher capital hurdle' Iraq oil reserves overtake Iran Brazil presidential race goes to runoff More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Top economist warns of European 'wave of austerity' Foreclosures bungle could hit US banks Iraq oil reserves overtake Iran Census surveys vast body of global marine life Brazil presidential race goes to runoff More Most Viewed » US state executes first woman in nearly 100 years Workers swarm Europe's streets in anti-cuts protests More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! 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