European and Asian leaders will gather in Laos on Monday for a two-day summit to discuss a host of global challenges topped by economic and security issues.

European and Asian leaders will gather in Laos on Monday for a two-day summit to discuss a host of global challenges topped by economic and security issues.

Under the theme "Friends for Peace, Partners for Prosperity", the Ninth Asia-Europe Meeting (ASEM) Summit will concentrate on economic debates amid a wobbling world's economy which was heavily hit by the international financial crisis broke out four years ago.

The last ASEM summit held in Brussels in 2010 was mainly dominated by economic issues such as reforms to the International Monetary Fund (IMF) in the wake of Europe's sovereign debt crisis and a strong rebound of Asian economies.

From the EU side, there are concerns about the Asian response, particularly from China, and how their cooperation can help solve the problem.

"With the ongoing economic difficulties of some countries in the eurozone, I believe that our cooperation is even more crucial than ever," Thai Deputy Prime Minister Finance Minister Kittiratt Na-Ranong said ahead of ASEM echoing the general tone of the meeting.

Overall, the participating nations from the two continents represent more than half of the world's economic output, about 60 percent of the world's population and over 60 percent of global trade.

As a platform for dialogue launched in 1996, the talks will also touch on other issues of common concerns including, among others, food and energy security, climate change and future direction of ASEM.

ASEM has 48 members currently and will expand to absorb Norway, Switzerland and Bangladesh at the Vientiane Summit, bringing the total membership to 51.