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May 25, 2006 Thursday Rabi-us-Sani 26, 1427





ACD forum to cooperate in energy sector


DOHA, May 24: Asian foreign ministers on Wednesday endorsed the creation of a forum to promote regional energy cooperation and called for oil export profits to be reinvested in the region.

A Doha Declaration issued after a two-day meeting of the Asia Cooperation Dialogue (ACD) also announced that the grouping had grown to 30 members, with Tajikistan and Uzbekistan accepted into the ranks.

The ministers of the ACD, which groups such major oil producers as Russia, Saudi Arabia and Iran alongside energy-thirsty giants like China, India and Japan, endorsed the establishment of the ACD Energy Forum as the sole platform for energy cooperation among member states, the declaration said.

They backed proposals to draw up an energy action plan which should put priority on promoting energy security, research and assessment on energy, infrastructure development.—AFP






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