On June 17, 2003, ASEAN+3 Foreign Ministers' Meeting was held in Phnom Penh, Capital of Cambodia. The foreign ministers had an in-depth exchange of views on regional and international issues of common concern and emphasized the importance of 10+3 cooperation.

Chinese Foreign Minister Li Zhaoxing pointed out in his speech that 10+3 cooperation has been steady since 1997, setting up a new model for cooperation between neighbors and becoming an important force promoting sustained development of the regional economy.

While introducing China’s policy on diplomacy with neighboring countries, Li said that the current Chinese government will get involved in regional cooperation with even greater enthusiasm and initiative and work with the surrounding countries for common development. He said that China's policy on East Asian regional cooperation in the new period includes the following. China will continue to take 10+3 cooperation as the main channel for regional cooperation in Asia, and supports the phasing-in of an improved trade and investment framework in the region, eventually leading to the free flow of goods, personnel, technology and information. China also supports the simultaneous development of Asia's multi-tier cooperation mechanism with an active, open, inclusive and cooperative attitude, and encourages participation from government departments, academic institutions and non-government circles, bringing into play initiative and resources from all sides, strengthening the basis for cooperation and expanding participation.

Li also put forward proposals on how to further strengthen 10+3 cooperation. He said that the 10+3 countries should actively explore the measures and ways for expanding trade and investment facilities and press ahead with regional financial cooperation, playing an important role in exploring and pushing the establishment of a unified Asian bond market. Coordination should also be strengthened to gradually deepen cooperation in fighting cross-border crime. He also said it is necessary to implement without delay the Final Report of East Asia Study Group adopted at last year's 10+3 summit. China would like to initiate the Network of East Asian Think-tanks project.

Li also briefed others on China’s efforts to fight SARS. He stressed that with joint efforts, countries in the region will turn challenges into opportunities for promoting cooperation, and East Asia will remain the region with the most rapid economic growth.

Before that, Foreign ministers of China, Japan and the Republic of Korea had an informal meeting and exchanged views on regional situation and East Asian cooperation. The three foreign ministers will recommend their leaders to issue a joint declaration at the ASEAN summit in October so as to promote tripartite cooperation in the areas of trade, politics, environmental protection, culture and human resources development and further support ASEAN integration.

On the DPRK nuclear issue, the ROK and Japanese sides appreciated China's hosting of the Beijing talks between China, the US and the DPRK, hoping that China will continue to play a constructive role and the process of Beijing talks will be continued.