Tokyo, June 15 (DPA) India expects about 60 percent of its one billion-plus population above 15 years of age to contribute to regional economic growth when they become consumers and spenders, said India's Commerce and Industry Minister Kamal Nath.

He was speaking at the World Economic Forum on East Asia, which opened a two-day meeting in Tokyo Thursday to promote integration of the regional economies.

More than 300 politicians, academics and business leaders have gathered from 27 Asian nations to discuss various issues such as regional economy, energy policy and technology.

"Asian countries' mutual dependency in trade has increased much and now almost matches that of European Union members," said Junichi Ujiie, chairman at Nomura Holdings Inc of Japan and one of the co-chairs of the forum.

"Any integration in the region seems to be no longer just an idea, but based on reality."

While its neighbouring nations are considered as emerging markets, Japan with its economic recovery plans to propose a new initiative to promote free circulation within the region, said Japanese Economy, Trade and Industry Minister Toshihiro Nikai.

In the forum's opening speech, Nikai introduced Japan's plan to set up a fund to accept 2,000 students and corporate interns every year from other Asian nations.

The World Economic Forum on East Asia, which Japan hosted for the first time, came in partnership with the Japan Association of Corporate Executives, an influential business lobby that marks the 60th anniversary of its establishment this year.

--DPA