Article 17 Energy

The Parties recognise the importance of the energy sector to economic and social development and shall endeavour, within the scope of their respective competences, to enhance cooperation in this field with a view to:

(a)

diversifying energy supplies in order to strengthen energy security and to develop new, sustainable, innovative and renewable forms of energy, including, inter alia, biofuels and biomass, wind and solar energy as well as hydro power generation;

(b)

supporting the development of policies to render renewable energy more competitive;

(c)

achieving rational use of energy with contributions from both supply and demand sides by promoting energy efficiency in energy production, transportation, distribution and end-use;

(d)

fostering the transfer of technology aimed at sustainable energy production and energy efficiency;

(e)

enhancing capacity-building and facilitation of investment in the field of energy taking into account principles of transparency, non-discrimination and market-compatibility;

(f)

promoting competition in the energy market;

(g)

exchanging views on developments in the global energy markets, including impact on developing countries.

To these ends, the Parties will work as appropriate to promote, particularly through existing regional and international frameworks, the following cooperative activities:

(a)

cooperation in energy policy-making and exchange of information relevant to energy policies;

(b)

exchange of information on status and trends in the energy market, industry and technology;

(c)

conduct of joint studies and research;

(d)

increase of trade and investment in the energy sector.