"Asian affairs should be handled by Asian people through consultation, and the future of Asia must be firmly kept in our own hands," said Chinese Premier Li Qiang at the 27th ASEAN Plus Three Summit on Thursday.

Fostering mutual respect and trust and strengthening cooperation were highlighted at the just-concluded leaders' meetings on East Asia cooperation, as decision-makers called for joint endeavors to safeguard peace and stability in the broader Asia-Pacific.

"The world today has entered a new period of turbulence and transformation, and global economic recovery lacks momentum. To better maintain peace, stability and development is a major task for all of us in East Asia and the broader Asia-Pacific," Chinese Premier Li Qiang said Friday in an address to the 19th East Asia Summit (EAS) in Vientiane, the capital of Laos.

This year marks the 70th anniversary of the Five Principles of Peaceful Coexistence. The China-proposed principles were born in Asia at a time when newly independent nations aspired to safeguard their sovereignty and build international relations based on equality.

Li said that to uphold international fairness and justice, the world should continue to draw wisdom from the five principles.

Today, the Asia-Pacific is a strong powerhouse for global development, but its waters have been constantly ruffled due to the region's strategic significance.

The U.S. Typhon Mid-Range Capability missile system, brought to the Philippines under the pretext of military exercises earlier this year, has overstayed, threatening the strategic stability of the Asia-Pacific, Filipino experts have warned.

Japan, a core U.S. ally, risks sowing more regional discord or even tensions, as its prime minister, Shigeru Ishiba, has put forward a proposal to establish an "Asian version of the NATO military alliance."

External interference could derail regional cooperation, undermine regional solidarity and stability, and disrupt ASEAN countries' orientation towards development, Wei Ling, a professor of international relations at China's University of International Business and Economics, told Xinhua.

At the 27th ASEAN Plus Three Summit on Thursday, Li called on the countries to strengthen the Asian Consciousness and better apply the Oriental wisdom.

"Asian affairs should be handled by Asian people through consultation, and the future of Asia must be firmly kept in our own hands," he said.

On Friday, Li called on all parties to uphold peace and tranquility, pursue mutual benefit and win-win results, and firmly promote opening up and cooperation, to create a brighter future for East Asia and the world.

On the South China Sea particularly, Li said, "Peace and stability in the South China Sea is critical to the development and prosperity of our region."

He urged regional countries to be highly vigilant against and resolutely curb actions that endanger regional stability and increase the risk of conflict.

Ki Manghout, a research fellow at the Asian Vision Institute in Phnom Penh, Cambodia, said, "A cohesive and practical strategy toward China will allow ASEAN to safeguard its regional interests and avoid becoming a pawn in larger geopolitical rivalries."

Li also called on all parties to continue to support the ASEAN-centered, open and inclusive regional architecture, and follow the path of regional security governance based on extensive consultation, joint contribution and shared benefits.

China has been playing a leading role in promoting effective cooperation through multilateral frameworks, such as the EAS.

Lao Prime Minister Sonexay Siphandone stressed Friday the importance of strengthening cooperation under the EAS framework to foster mutual understanding, trust and confidence, which are key elements to the shared objectives of peace, stability and sustainable development.

Yong Chanthalangsy, representative of Laos to the ASEAN Intergovernmental Commission on Human Rights, said the EAS "has become an important platform for promoting peace and development, injecting confidence into regional peace, stability and cooperation."