The Belgian Finance Minister Didier Reynders has said the euro has been undervalued and should become a stronger international currency.
"We are working more and more to promote the euro," said Reynders, chairman of the euro group, made up of finance ministers of the eurozone currency bloc.
Europe hopes the euro will become more widespread as the currency other nations hold in reserve and also for private use around the world in pension funds, he said after a meeting of European and Asian finance ministers in Kobe, Japan.
"The euro was undervalued the previous year," Reynders said. "We are confident for the European economy. It's good for the euro."
Reynders said the euro's strength was based on the strength of the European economy, forecast to grow 3% this year despite the recent slowdown in the US economy.
Currency systems were among the topics discussed at the two-day gathering in Kobe, with European officials trying to promote the euro in the talks.
The euro has been trading at around 95 cents, still about 20% lower than at its January 1999 launch, but higher than its low last year of just above 82 cents.
AP