| Tuesday, January 16, 2007 |
| 16 Asian countries sign key energy pact |
Leaders attending a summit of the 10-member Association of South-East Asian Nations (ASEAN) have signed an agreement to promote energy security and find alternatives to conventional fuels.
The historic agreement, signed by the leaders of 10 ASEAN members and their counterparts from six Asian economic powerhouses – including India, China, Japan, New Zealand, South Korea and Australia – rounded off a week of deliberations in the Philippine resort of Cebu on issues as diverse as natural disasters, disease and terrorism.
The ASEAN members are the Philippines, Thailand, Myanmar, Indonesia, Malaysia, Singapore, Brunei, Cambodia, Laos and Vietnam.
The ASEAN summit also saw an improvement in relations between rivals China and Japan.
The pan-Asian summit was also marked by an improvement in relations between regional rivals China and Japan. Chinese Prime Minister Wen Jiabao is now scheduled to travel to Japan in April.
Also at the summit, Japan, China and South Korea held their first three-way meeting in two years. Leaders of the three countries presented a united front against North Korea, urging Pyongyang to end its nuclear programme and seek a stronger trading relationship with its neighbours.
The Cebu Declaration on East Asian Energy Security, signed after a three-hour meeting on Monday, lists a series of goals aimed at providing “reliable, adequate and affordable” energy supplies to a large region extending from Australia to India.
The document, however, does not set any targets for capping greenhouse emissions, but will call for additional investment in eco-friendly fuels.
Greenhouse gas emissions from Asian nations are forecast to grow rapidly in the coming years, with one estimate saying they could treble by 2025.
The agreement also lists plans to set up a regional electricity grid and a natural gas pipeline across South-East Asia.
Analysts say the 16 nations that signed the agreement are attempting to lessen their dependence on oil from the Middle East.
“The fact that the leaders of 16 great nations are here is a testament to the desire of the leaders and their people for greater collaboration between the nations,” Philippine’s President Gloria Macapagal Arroyo said in her opening statement.
“I hope we make progress on the issues of energy independence, human rights, economic integration and social justice,” she said.Labels: Business |
| posted by a correspondent @ 12:48 AM |
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