QINGDAO: Twenty-two member nations of the Asia Co-operative Dialogue (ACD) - both oil producers and consumers -issued a "Qingdao Initiative" on energy co-operation here, pledging to stockpile strategic energy reserves and a regional energy transportation network.

"This document will allow Asian countries to share challenges and successes so that all of them can benefit from the solutions," said Han Wenke, deputy director of the Energy Research Institute with National Development and Reform Commission.

The document, a framework agreement on energy co-operation in Asia, came after oil producers and consumers met at the International Energy Forum in Amsterdam late last month and the intergovernmental Conference on Renewable Energy in Germany earlier this month.

"Enhanced energy co-operation is necessary to safeguard Asian energy security and promote economic development in all countries," said Chinese Premier Wen Jiabao yesterday at opening ceremonies of the Third ACD Foreign Ministers Meeting.

"Therefore, the Chinese Government is actively pushing for the publication of the Qingdao Initiative," Wen said.

In the framework document, the members also called on shifting from fossil fuels to renewable energy resources and energy-saving measures.

Surakiart Sathirathai, the Thai minister of foreign affairs, said the meeting provided a greatly needed political impetus for ACD countries to formulate common energy security strategies in response to the current energy crisis.

"Under the framework document, we can work together and make joint research efforts in various fields such as energy conservation and renewable energy," he said.

Views and measures from China, one of the world's fastest growing oil importers, are regarded by observers as reassuring so that the giant country will not have a crushing impact on the world's energy supplies.

Wen's speech gave a clear illustration of China's standpoint.

He said the Chinese Government stands for "accommodating the interests of others while safeguarding a country's own interests, and achieving common development through consultation and co-operation," Wen said.

"We stand ready to conduct energy dialogue and to co-operate with other countries in Asia and the world at large on the basis of equality and mutual benefits."

The premier assured the nations that China, whose economy has sustained rapid growth, will mainly rely on the development of domestic energy resources, adding that the world's most populated nation will step up the development and utilization of coal, oil, natural gas, nuclear energy and various new types of energies.

"We will also take energy-saving measures and building an energy-saving society as important state policies, promote technological processes and encourage rational consumption through economic restructuring," Wen said.

ACD embraces new members

The participants also announced a declaration on further promoting co-operation in areas such as the reduction of poverty and developing bond markets in the region.

The accession of three new member states - the United Arab Emirates, Mongolia and Iran - were approved at the meeting which concluded yesterday, bringing the member countries to 25.

(China Daily 06/23/2004 page1)