"Together we account for about 60 percent of the world population and of the world's trade and GDP. Therefore, we have a duty to maintain peace, security and stability," Tusk said at the opening of the summit.
Tusk added that ASEM nations have "an obligation to move forward our cooperation by fostering trade and investment."
The 11th Asia-Europe Meeting (ASEM11) Summit kicks off in Mongolia on July 15 and will for last two days.
Tusk said that climate is on the agenda of ASEM11.
"Europe and Asia also share responsibility for turning out climate challenge commitments and sustainable development goals into reality. All these topics will be on the agenda of our meeting. I hope that Ulaanbaatar summit will be remembered for our determination in coming to joint solutions," Tusk said.
The Asia-Europe Meeting (ASEM) is an informal interregional dialogue that addresses political, security, financial, economic, social and cultural issues.
