Australian Industry Minister and chair of the meeting Ian Macfarlane said the Darwin Declaration included the establishment of an Energy Investment & Trade Study and Roundtable, and a voluntary APEC Energy Peer Review Mechanism to improve the operations of energy markets.
The declaration covers issues such as reducing impediments to energy investment and trade, reducing oil dependence and promoting energy diversity, efficiency and cleaner energy technologies.
“The APEC region accounts for over 60 percent of world energy demand, and with the world's three biggest energy users – China, the US and Russia – part of APEC, this meeting was a crucial opportunity for us to look at the challenges we face and how we can increase efficiency and diversity in the energy sector," Macfarlane said.
“The future prosperity of the APEC region relies on securing energy supplies, and on clean and efficient energy production and use."
The 21 APEC member economies are: Australia; Brunei Darussalam; Canada; Chile; the People's Republic of China; Hong Kong, China; Indonesia; Japan; the Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; the Republic of the Philippines; the Russian Federation; Singapore; Chinese Taipei; Thailand; the United States; and Viet Nam.
It also looked at developing best practice towards energy efficient transportation, intensifying efforts to develop and deploy techniques for the cost-effective use of non-food feedstocks and encouraged international collaboration on alternative fuels.
A copy of the Darwin Declaration can be found at: www.industry.gov.au/apec2007mediacentre/