Cambodia asks U.S. to help boost its tourism sector

PHNOM PENH, March 1 (Chinese media) -- Cambodia has asked U.S. to provide some

help to boost its tourism sector, one of the kingdom's pillar industries,

Chinese-language newspaper the Jian Hua Daily said on Sunday.

Tourism Minister Thong Khon made this request while meeting with U.S.

Ambassador Carol Rodley here earlier this week, said the paper.

Cambodia expects U.S. to help Cambodia establish a training school of

vocational skills and promote its eco-tourism, especially in face of the global

financial crisis, said the minister.

Rodley expressed her support of the idea, saying that she will relay the

message to the U.S. government in order to help Cambodia develop its human

resources in the tourism sector and push forward its eco-tourism.

Cambodia received around 2 million foreign tourist arrivals in 2008, a 5.5

percent rise over 2007, but slightly lower than the government's expectation,

according to official figures.

EU leaders vow to tackle financial, economic crises within framework of single market

Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, wait at EU headquarters prior to the special summit in Brussels, capital of Belgium, March 1, 2009. The European Union leaders held a special summit focusing on economic recession on Sunday.(Chinese media/Wu Wei)
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BRUSSELS, March 1 (Chinese media) -- European Union (EU) heads of state and government will agree to tackle the current financial and economic crises within the framework of the European single market, according to a draft document prepared for an informal EU summit.

"They (The leaders) agreed that Europe can only face this challenge and overcome the current crisis by continuing to act together in a coordinated manner, within the framework of the Single Market and EMU (European Monetary Union)," reads the document prepared by the Czech Republic, which holds the rotating EU presidency.

The leaders will underline the importance of building confidence and promoting financial stability, getting the real economy back on track, and working together with other international players, according to the document obtained by Chinese media on Sunday.

Greek Prime Minister Costas Karamanlis shakes hands with European Commission President Jose Manuel Barroso (R) ahead of a EU leaders summit in Brussels March 1, 2009. (Chinese media/Reuters Photo)
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On building confidence, the leaders will recognize the importance to unblock the credit channel and to deal with toxic assets of banks. They will also reiterate the need to improve the regulation and supervision of financial institutions, ensure long-term sustainability of public finances and strengthen macro-financial stability.

With regard to measures on real economy, the leaders will commit to make maximum use of the single market as the engine for recovery to support growth and jobs. They will welcome a policy paper of the European Commission on the car industry.

Austrian Chancellor Werner Faymann arrives at EU headquarters prior to the special summit in Brussels, capital of Belgium March 1, 2009. The European Union leaders held a special summit focusing on economic recession on Sunday.(Chinese media/Wu Wei)
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The leaders will recognize the importance of measures to counter the negative impact on employment.

They will agree to draw conclusions at their formal summit on March 19-20 on the implementation of the European Recovery Program both at EU and national levels.

The EU leaders will recognize the importance of the Group of 20(G20) economic summit in London on April 2 for rebuilding confidence among businesses, citizens and the financial sector. The leaders will use their March 19-20 summit to prepare the EU's position at the G20 summit.

EU leaders meet for special summit to tackle financial crisis

Special Report:Global Financial Crisis

Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, wait at EU headquarters prior to the special summit in Brussels, capital of Belgium, March 1, 2009. The European Union leaders held a special summit focusing on economic recession on Sunday.(Chinese media/Wu Wei)
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BRUSSELS, March 1 (Chinese media) -- European Union leaders

met here on Sunday for an emergency summit to deal with the economic crisis,

which has jeopardized open trade within the 27-nation bloc and solidarity

between its rich and poor members, the core of EU policies.

The summit, called by Czech Prime Minister Mirek

Topolanek as his country holds the current EU presidency, is meant to forge a

united European position before the summit of leaders from the G-20 group of

leading economies scheduled for April 2 in London.

It is also designed to form solidarity within the

bloc in fighting the economic crisis.

Greek Prime Minister Costas Karamanlis

shakes hands with European Commission President Jose Manuel Barroso (R)

ahead of a EU leaders summit in Brussels March 1, 2009.

(Chinese media/Reuters Photo)
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"All efforts and measures to fight the economic

crisis within the EU must respect the principle of solidarity, but they also

require that all players show responsibility," said Topolanek in a statement

before the summit.

"Europe will only overcome the crisis if we act

together in a coordinated way and if we abide by the Community rules," he said.

He stressed that a united internal market was of

vital importance.

"We must make the most of the opportunities offered

by the internal market we must make it the driving force of recovery, promoting

economic growth and employment," he said.

Austrian Chancellor Werner Faymann

arrives at EU headquarters prior to the special summit in Brussels,

capital of Belgium March 1, 2009. The European Union leaders held a

special summit focusing on economic recession on Sunday.(Chinese media/Wu Wei)


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The special summit comes as protectionism looms large

within the Union resulted from the worst economic crisis in decades.

"European integrity and solidarity are now undergoing

a severe trial," Topolanek wrote in Friday's Financial Times. "A system of

subsidies and illegitimate loans will not bear the much-desired fruit, but

rather grapes of wrath."

The Czechs have been particularly incensed by French

plans to offer public aid to carmakers Renault and Peugeot-Citroen on condition

that they commit not to laying off French workers -- a condition seen as

threatening jobs of workers in factories owned by the French automakers in

Eastern Europe.

France's President Nicolas Sarkozy wipes

his nose as he arrives for an emergency European Union leaders summit in

Brussels March 1, 2009.(Chinese media/Reuters Photo)
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French President Nicolas Sarkozy added to easterners'

concern with recent televised comments that appeared to directly criticize the

French companies for investing in the Czech Republic and other nations where

costs are lower than in France.

Topolanek hopes the summit will restate governments'

commitmentsto core values including the single European market and economic

solidarity.

Leaders are also expected to consider practical measures such as increased financial sector regulation and common standards for dealing with "toxic" bank assets, although firm decision are unlikely until the bloc's next regular summit on March 19-20.

EU leaders hold crisis talks as

concern mounts over Eastern European economies



BRUSSELS, Feb. 28 (Chinese media) -- European Union

leaders meet Sunday for emergency talks as the economic crisis places strains on

two key tenants of EU policy -- open trade within the 27 nationbloc and

solidarity between its rich and poor members.

The summit was called by Czech Prime Minister Mirek

Topolanek, whose country's debut EU presidency comes as the bloc struggles to

cope with the worst economic crisis in decades. The afternoon meeting is

designed to forge a united European position ahead of the summit of leaders from

the G-20 group of leading economic powers scheduled for April 2 in London. Full story

Hungary's Prime Minister Ferenc Gyurcsany briefs media ahead of an emergency European Union leaders summit in Brussels March 1, 2009.(Chinese media/Reuters Photo)
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Eastern EU countries wary of economic "iron curtain"

BRUSSELS, March 1 (Chinese media) -- Eastern European Union (EU) countries were wary of an economic "iron curtain" at an extraordinary EU summit held on Sunday to seek a coordinated response to the economic crisis amid fear of protectionism.

"We should not allow a new iron curtain to be set up and divide Europe in two parts," Hungarian Prime Minister Ferenc Gyurcsany told reporters ahead of the summit.

Hungary was among the worst hit Eastern European countries in the financial crisis. Together with Latvia, the country has been forced to seek financial support from the International Monetary Fund (IMF).

"This is the biggest challenge for Europe in the last 20 years. In the beginning of the nineties we reunified Europe, now the challenge is whether we will be able to reunify Europe financially," Gyurcsany said.

The extraordinary EU summit was called when protectionism looms large within the 27-nation bloc. Split appeared between Eastern and Western European countries after the latter resorted to protectionist measures to save their industries from the worst economic crisis in decades.

"We do not want any new dividing lines; we do not want a Europe divided along a North-South or an East-West line; pursuing a beggar-thy-neighbor policy is unacceptable," said Czech Prime Minister Mirek Topolanek, whose country holds the EU rotating presidency.

The Czech people have been particularly incensed by French plans to offer public aid to carmakers Renault and Peugeot-Citroen on condition that they will commit not to lay off French workers, a condition seen as threatening jobs of workers in factories owned by the French automakers in Eastern Europe.

French President Nicolas Sarkozy added to easterners' concern with recent televised comments that appeared to directly criticize the French companies for investing in the Czech Republic and other nations where costs are lower than in France.

"Europe will only overcome the crisis if we act together in a coordinated way and if we abide by the community rules," said Topolanek. "That the internal market remains united is of vital importance."

Hours before the emergency EU summit, leaders from nine Central and Eastern European countries met separately to work on a common position against the rise of protectionism.

With the economic situation deteriorating in Eastern Europe, there is a mounting concern that a collapse of Eastern European economies could trigger further instability across the continent.

Gyurcsany called for a special EU fund of up to 190 billion euros (241 billion U.S. dollars) to bail out Central and Eastern European countries.

Among the sum, approximately 30 percent will be used to provide emergency liquidity to central banks of Central and Eastern European countries and Western European banks heavily exposed to the region, according to a proposal seen by Chinese media.