The 10^th Asian-European Meeting (ASEM) summit began Thursday in Milan, where 53 leaders from Western Europe and the Pacific countries are set to discuss global issues and economic cooperation in a series of dialogues that will last until Friday.

The biennial summit has long provided a casual platform for world leaders to secure vital relationships between Asian and European countries based on shared benefits and responsible partnerships.

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Europe is shaping up to become a key player in sustaining the Asia's security and economic growth, while the latter has in recent years sought to strengthen its alliance with the latter, China Daily observed.

Since its founding in 1996, the forum has enabled countries to hold formal bilateral meetings at the summit proper, and dialogues on the sidelines.

This year, expansion of economic relations will figure prominently in the summit, while leaders on Friday are expected to talk behind closed doors about major issues besetting the international community.

These include the global terrorism threat posed by the Islamic State group in the Middle East, the bitter maritime disputes in the South China Sea, and the protracted crisis between Russia and Ukraine, said the report by the German newspaper Deutsche Welle.

Much of the attention of this year's summit will focus on the summit margins, particularly on the rare face-to-face meeting between Russian President Vladimir Putin and Ukrainian President Petro Poroshenko.

The leaders are set to hold a breakfast meeting on Friday where they are expected to discuss the battered ceasefire between pro-Russian rebels and Ukrainian troops.

Europe welcomes the meeting, but reminded Putin that sanctions against Russia will not be lifted unless he agrees to fully withdraw from the Ukrainian border, AFP reported.

On the Asian front, Chinese Premier Li Keqiang is keen to shore up economic ties with the EU, following his recently concluded European tour.

This is Li's first attendance at the summit since taking office last year. The premier will address the international forum during the opening speech that analysts say will talk about China's peaceful and inclusive developments, Xinhua reported.

Together, the summit members comprise 60 percent of the world's population and global trade, and represent half of the world's economic output.

The summit in Italy will be hosted by ASEM's chairman Van Rompuy. It is expected to draw 2,000 international delegates.

TagsAsian-European Meeting (ASEM), Europe-Asia relations