Asia and Europe should intensify their cooperation to promote balanced economic development and bridge the urban-rural gap, Chinese Premier Wen Jiabao said on Sunday.

While addressing the sixth summit of the Asia-Europe Meeting (ASEM) held in the Finnish capital, Wen said all ASEM members should strengthen fiscal and financial policy coordination, promote the reform and improvement of the international financial system and give developing countries greater a say in the system.

"We should work for the reform of the international monetary system, enhance regional monetary cooperation and improve the capacity to ward off risks," he said.

High priority should be given to boosting cooperation in human resources development and capacity building in the financial sector, especially financial capacity building for developing countries, Wen said.

He expressed China's support for exploring the possibility of establishing a new financing mechanism for cooperation on the basis of the Asia-Europe Trust Fund to provide funding for future financial dialogue and capacity building.

The Chinese leader called on all ASEM members to formulate comprehensive strategies for rural development.

Noting that narrowing the urban-rural gap is important to the realization of balanced economic development, Wen suggested the developed countries adopt measure more favorable to developing countries in agricultural trade policies.

He also proposed to host the ASEM Forum on Rural Development at an appropriate time to share each other's experiences in achieving coordinated development between urban and rural areas.

The biennial summit, slated for September 10-11 under the theme "10 Years of ASEM: Global Challenges-Joint Responses," gathers heads of state or government from 13 Asian countries and all the 25 EU member states.

The ASEM cooperation was initiated in 1996 with a view of strengthening dialogue and interaction between Asia and Europe.

This year's summit is hosted by Finland, which now holds the EU rotating presidency.