KUWAIT CITY, (Yonhap) -- Leaders and senior officials from Asia's economic powers, including major oil exporters and importers, are set to hold the first summit of the Asia Cooperation Dialogue (ACD) here, mainly aimed at discussing how to promote cooperation to protect their nations against the festering global economic crisis.
The summit of the 32 member ACD, due to start from Tuesday in the capital of oil-rich Kuwait, will also focus on ways to activate the forum, which was set up in 2002, to strengthen regional cooperation and dialogue among Asian countries, organizers said Sunday.
This week's summit will be attended by foreign ministers and senior officials from South Korea, China and Japan, as well as major oil producers in the Gulf region, including Saudi Arabia, Kuwait, the United Arab Emirates and Qatar.
Iranian President Mahmoud Ahmadinejad and Thai Prime Minister Yingluck Shinawatra also plan to participate in the forum.
South Korean Deputy Foreign Minister Kim Kyou-hyun will lead the country's delegation during the summit, Seoul's foreign ministry said in a statement.
Since the 2008 global crisis, economic growth around the globe has been fragile amid the deepening debt crisis in Europe, a weakening growth in the U.S. and a cooling Chinese economy. Such uncertainties have forced Asian countries to join hands in fighting against the impacts of the global economic malaise.
Last week, the International Monetary Fund cut its 2012 global economic growth forecast to 3.3 percent from its July outlook of 3.5 percent.
In a speech on Saturday during a preparatory meeting for the upcoming summit, Kuwait's Foreign Ministry undersecretary Khaled al-Jarallah said the ACD forum is ushering in a "new period."
"Today, we are hosting ACD meetings as it enters a new period," al-Jarallah said.
"Construction of this dialogue will be within the framework of sustainability and achievement," he said. "Kuwait is keen on building sturdy international relations, especially in the Asian continent, considering the mutual history and heritage."