28/06/2005 (Agence Europe) - The high risk of oil prices is a risk for global growth, including that for emerging and developing economics, affirmed a press statement from the sixth ASEM Finance Ministers meeting. On 26 June in Tianjin, representatives from the 25 Member States of the EU and the 10 Member States of ASEAN, as well as China, Japan and South Korea, called on oil producing countries to increase production. Demand is very high in China, ministers pointed out. The Commissioner for economic and monetary affairs, Joaquin Almunia, recognised during the meeting that “oil's current price was around 60 dollars a barrel and will have a negative impact on our growth objectives” (1.6% for the euro zone in 2005).