European and Asian countries should strengthen their cooperation on promoting clean and efficient energy, Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighbourhood Policy, said here on Thursday.
Speaking at the first ASEM (Asia-Europe Meeting) Ministerial Conference on Energy Security in Brussels, Waldner listed four areas for the two regions to work together.
"Combining our efforts would give us considerable leverage in building a more stable, transparent and secure global energy market," she said. "That would help us mitigate the risks we all face as consumers, and minimize the possibility of supply disruptions."
ASEM is the main multilateral channel and vital forum for communication and dialogue between Asia and Europe since 1996. The 45 ASEM partners represent half of the world's GDP, almost 60 percent of world's population and 60 percent of global trade.
The two sides will also benefit greatly from cooperation on developing new technologies and promoting green growth, the commissioner said.
"A third important area for cooperation is in improving energy efficiency, " she said. "We have a lot to gain from exchanging information about energy efficiency measures, whether that be building standards, or energy-labelling for products and services."
Waldner also urged to promote and increase investment in renewable energy. "That could include cooperative R&D (research and development) initiatives between Asia and Europe, taking advantage of current expertise, for example in wind and biofuels technology from Europe, and solar energy from China and Japan," she said.
The one-day conference is to discuss and identify positions on important areas of common interest in the energy sector such as energy security, investment, and opportunities and methods of promoting sustainable energy diversification.
