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Asian states sign key energy deal Asian states sign key energy deal
(about 1 hour later)
Leaders at an East Asian summit have signed an agreement to cut greenhouse gas emissions and promote bio-fuels. Leaders at an East Asian summit have signed an agreement to promote energy security and find alternatives to conventional fuels.
The deal was signed by 10 South East Asian nations, China, Japan, S Korea, India, Australia and New Zealand. The agreement was signed by 10 South East Asian nations, China, Japan, New Zealand, India, S Korea and Australia.
The agreement rounds up a week of talks in the Philippine resort of Cebu, looking at issues as diverse as natural disasters, disease and terrorism. The agreement rounds off a week of talks in the Philippine resort of Cebu, looking at issues as diverse as natural disasters, disease and terrorism.
The week has also been marked by an improvement in relations between regional rivals China and Japan. It also saw an improvement in relations between rivals China and Japan.
The Cebu Declaration on East Asian Energy Security, signed after a three-hour meeting on Monday, lists a series of targets aimed at providing "reliable, adequate and affordable" energy supplies to a huge region from Australia to India. 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 huge region from Australia to India.
The deal will not cap greenhouse emissions, but will call for extra investment in eco-friendly fuels. The document does not set any targets for capping greenhouse emissions, but will call for extra investment in eco-friendly fuels.
There are also plans to construct a regional electricity grid and a natural gas pipeline across South East Asia.There are also plans to construct a regional electricity grid and a natural gas pipeline across South East Asia.
Correspondents say the 16 nations that signed the agreement are attempting to lessen their dependence on oil from the Middle East.Correspondents say the 16 nations that signed the agreement are attempting to lessen their dependence on oil from the Middle East.
Greenhouse gas emissions from Asian nations are forecast to grow rapidly in the coming years, with one estimate saying they could treble by 2025.Greenhouse gas emissions from Asian nations are forecast to grow rapidly in the coming years, with one estimate saying they could treble by 2025.
Improved tiesImproved ties
The pan-Asian deal comes at the end of a regional South East Asian summit also held in Cebu.The pan-Asian deal comes at the end of a regional South East Asian summit also held in Cebu.
The summit was marked by an improvement in relations between regional rivals China and Japan, and Chinese Prime Minister Wen Jiabao is now scheduled to travel to Japan in April.The summit was marked by an improvement in relations between regional rivals China and Japan, and 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.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.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.