VIENTIANE - Asian and European leaders launched the Ninth Asia-Europe Meeting (ASEM) Summit in Laos' capital of Vientiane on Monday with economic and financial issues topped on agenda.

European Council President Van Rompuy said at the opening ceremony that the European Union (EU) have maintained close contact with the Association of Southeast Asian Nations (ASEAN) in 35 years, which paves the way for the EU to be fully involved with the region. ?

"The two regions need to cooperate to promote peace and to promote human rights and promote sustainable development and climate change," he said.

Prior to the formal start of the summit, Norway, Switzerland and Bangladesh were approved as new members of ASEM during an enlargement ceremony.

Since its debut in 1996, the ASEM has expanded its membership from 26 to 51.