The 19th World Economic Forum on East Asia ended today with participants underscoring the need for Asia’s leaders to take a bigger role in world affairs, including discussions on a global financial architecture and international trade. The region has recovered swiftly from the global economic crisis, but the challenges remain complex and connected, and Asia is still vulnerable to global risks.

Six members of the G20 come from East Asia, so
the issues that matter most to developing countries and the region in particular
should be on the table in G20 meetings.

Trade should be among those issues, said Pascal Lamy, Director-General of the
World Trade Organization. “Looking at Asia, one sees very good examples of trade
opening leading to growth,” he said. “The countries that are the most open have
been doing better during and after the global crisis than countries that were
less open.”

Summing up the outcomes of the meeting, Robert Greenhill, Managing Director
and Chief Business Officer, World Economic Forum, also noted the importance of
environmentally responsible economic growth and the equitable distribution of
the fruits of development.

Watch the full closing session below.

Indonesia will host the 20th World Economic Forum on East Asia in June
next year