PREVIEW-EU and Asia to discuss IMF seats and trade

[pampango]

http://www.reuters.com/article/idUSLDE6900QZ20101001

European and Asian leaders will try next week to narrow differences over representation on the IMF at talks intended to break down barriers between countries representing more than half the world's population.

The signing of a free-trade pact between South Korea and the European Union on Wednesday will be the highlight of three days of meetings that include an EU-China summit and a gathering of leaders from about 40 EU and Asian states on Monday and Tuesday.

The 48 states that are invited to the biennial Asia-Europe Meetings (ASEM) are responsible for half the world's gross domestic product, almost 60 percent of the world's population and 60 percent of global trade, EU officials say.

The EU will also launch free-trade talks with Malaysia on Tuesday and the ASEM meeting will issue a statement on improving global economic governance, achieving sustainable development, combating global warming and meeting aid targets.