The Minister Foreign Affairs of Asia and Europe will meet at Nusa Dua, Bali on July 24, 2003, for the 5th ASEM Foreign Minister' Meeting (FFM) scheduled to be officially opened by President Megawati Soekarnoputri. The meeting will be preceded by the Senior Officials' Meeting (SOM) on 22-23 July 2003.

        The meeting will be attended by Ministers of Foreign Affairs from 10 Asian countries (Brunei Darussalam, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, China, Japan and Korea) and 15 European countries (Belgium, Denmark, Germany, Greece, Spain, France, Ireland, Italy, Luxemburg, the Netherlands, Austria, Portugal, Finland, Sweden and the United Kingdom) as well as the Commissioner of EU.

        ASEM constitutes a forum for informal dialogue between the Heads of State/Government to exchange their views and as a forum for consultation on important issues agreed by all ASEM partners. In addition, ASEM aims at bridging the differences and promoting understanding between the people of the two regions.

        ASEM cooperation is based on three key pillars, namely politic, economic, and cultural pillars and based on the spirit of mutual respect and equal partnership.

        In political field, the cooperation is directed to a dialogue concerning international/regional issues agreed upon by all partners, the future activities of ASEM cooperation, and the future of ASEM. In this particular political field, the 5th ASEM Foreign Ministers meeting will discuss among other things, issues such as the development of current international issues, the Korean Peninsula, the Middle East peace process, SARS and others.

       In economic field, the cooperation will be directed to the elimination of trade and investment barriers as well as to create a convenient, secure, and guaranteed investment climate in the regions.

        In social and cultural field, ASEM will focus on efforts to develop relations and strengthening the awareness of the communities in the two regions so as to create common awareness for the future of ASEM.

        Bilateral meeting between Foreign Ministers of ASEM members will also be held during 5th ASEM FMM.