Asia,Europe to set up working group

Thailand’s Deputy Prime Minister and Finance Minister Kittirat Na Ranong (L) with Finance Minister P Chidambaram at the 10th Asia-Europe Finance Minister’s Meeting in Bangkok

Written by Reuters | Published: October 16, 2012 12:55 am

Thailand’s Deputy Prime Minister and Finance Minister Kittirat Na Ranong (L) with Finance Minister P Chidambaram at the 10th Asia-Europe Finance Minister’s Meeting in Bangkok on Monday. At the meeting,Chidambaram said the fiscal austerity measures adopted by Europe should not affect growth as a slowdown could lead to repercussions affecting economies around the world. European Commission Vice President Olli Rehn attributed the slowdown in world trade to “creeping protectionism” among other things. Finance ministers and officials from Asia and Europe today decided to set up a working group for suggesting ways for enhancing trade and investment.

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