The three leaders of the People's Republic of China, Japan and the Republic of Korea shared the view that it is necessary to strengthen cooperation among the three countries in order to cope with the situation, in an effective manner, where the world economy and the financial markets are facing serious challenges.
The three leaders underlined the importance of a series of international meetings and cooperative efforts aimed at stabilizing financial markets and restoring global growth. In particular, they reaffirmed their commitment to implement the Declaration of the Summit on Financial Markets and the World Economy, including "Action Plan to Implement Principles for Reform".
The three leaders stressed the importance of further enhancing regional cooperation to address the turmoil of financial markets. They welcomed the results of the Trilateral Finance Ministers' Meeting among China, Japan and Korea on 14 November 2008 in Washington D.C. and the recent decisions on the increase in the size of the bilateral swap arrangements among the three countries.
The three leaders shared the view that efforts need to be strengthened to minimize the negative impacts that the current financial turmoil could have on the world economy, and to facilitate trade and investment in the region as well as promote the regional cooperation.
The three leaders emphasized the importance of promoting cooperation among Asian countries not only in the financial sector but also in the real economy. They also confirmed the significance of measures that will reinforce growth and expand domestic demand and are determined to work closely and strengthen the trilateral cooperation to facilitate Asian countries' efforts in order to overcome the negative impacts resulting from the current international financial crisis and achieve self-sustainable growth in Asia. In this regard, they reaffirmed the importance of assisting the steadfast progress of ASEAN integration.
Fukuoka, 13 December 2008
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