East Asia Summit stated: 21. We acknowledged the importance of regional discussions to examine ways to advance the stability and prosperity of the Asia Pacific region. In this connection, we noted with appreciation the following: (a) the Philippines’s proposal to invite the heads of other regional fora and organizations in Asia-Pacific to future EAS meetings to discuss measures that will protect the region from future economic and financial crisis and strengthen Asia economic cooperation, including through the possible establishment of an economic community of Asia. (b) Japan’s new proposal to reinvigorate the discussion towards building, in the long run, an East Asian community based on the principle of openness, transparency and inclusiveness and functional cooperation. (c) Australia’s proposal on the Asia Pacific community in which ASEAN will be at its core, will be further discussed at a 1.5 track conference to be organized by Australia in December 2009. In addition to these proposals India also has its proposal for an Asian Economic Community. 2010 The Chairman's Statement of the 16th ASEAN Summit (9 April 2010) stated: ASEAN’s External Relations 40. We expressed our overall satisfaction with the progress in ASEAN’s cooperation with external partners within the frameworks of ASEAN+1, ASEAN+3 and East Asia Summit processes. We appreciated the valuable support and financial assistance accorded to ASEAN by its external partners. 41. We reaffirmed the importance of ASEAN’s cooperation with external partners in maintaining peace and stability in the region, enhancing ASEAN’s internal regional integration, narrowing the development gap, enhancing intra-ASEAN connectivity and expanding ASEAN’s connectivity to the wider region. 42. Emphasizing the need to successfully conclude action plans/work programmes, cooperation agreements in trade, economic and socio-cultural fields with ASEAN’s dialogue partners, we tasked our sectoral Ministers to work closely with their external partners towards that aim. 43. We recognized and supported the mutually reinforcing roles of the ASEAN+3 process, the East Asia Summit (EAS), and such regional forums as the ASEAN Regional Forum (ARF), to promote the East Asian cooperation and dialogue towards the building of a community in East Asia. In this connection, we encouraged Russia and the US to deepen their engagement in an evolving regional architecture, including the possibility of their involvement with the EAS through appropriate modalities, taking into account the Leaders-led, open and inclusive nature of the EAS. By mid-2010 the leaders of the three nations referred to in the October 2009 statement had all