ROC energy initiative adopted by APEC

2014-09-04

A Taiwan-proposed initiative facilitating trade of liquid natural gas was included in the declaration concluding the Asia-Pacific Economic Cooperation Energy Ministerial Meeting Sept. 2 in Beijing, according to the Ministry of Economic Affairs.

Submitted by MOEA Minister Duh Tyzz-jiun, the initiative recognizes the increasingly important role of natural gas in the global and regional fuel mix. It also calls for the establishment of an adequate, flexible and transparent trade environment for LNG.

“This initiative is set to ensure long-term operation of related trade mechanisms and build consensus on joint resources application and development,” an MOEA official said. “Taiwan will now take the lead in organizing and hosting related projects and activities in this regard.”

According to the MOEA, the initiative received the support of other meeting participants, and the ministry expects it to pave the way for expanded dialogue, exchanges and cooperation.

APEC welcomed the inclusion of the initiative in the declaration, declaring it would “ensure the interests of LNG suppliers and consumers and boost the healthy development of APEC natural gas markets.”

The one-day ministerial meeting, themed Joining Hands Toward Sustainable Energy Development in the Asia-Pacific Region, focused on clean energy, energy efficiency and sustainable community, energy investment and trade, as well as energy security.

Participants pledged to continue implementing the Energy Smart Community Initiative and building the Taiwan-driven ESCI Knowledge-Sharing Platform.

In addition to sharing Taiwan’s energy development experiences and practices, Duh also held discussions aiming to enhance two-way energy cooperation with his counterparts from Australia and the U.S.

At a news conference later the same day, the minister expressed concern over the delay in legislative review of the Cross-Strait Trade in Services Agreement and statute on an agreement supervisory mechanism, as well as its impact on negotiations pertaining to a trade in goods pact.

With South Korea and mainland China working to sign a free trade agreement by the end of the year, Duh said he hopes Taipei and Beijing can conclude the goods pact in less than six months after the FTA takes effect.

The next round of negotiations on the trade in goods pact is set to take place Sept. 10 in Taipei after a hiatus of five months, according to the MOEA.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=221272&CtNode=413)