China and the United States signed a Memorandum of Understanding (MOU) on Sunday to launch a bilateral energy forum named China-US Energy Policy Dialogue.

Zhang Guobao, Vice Chairman of China's National Development and Reform Commission signed the MOU with US Secretary of Energy Spencer Abraham. Both of them praised the agreement would help expand the energy relationship between the two countries.

"Our two nations' economies continue to improve, which means we both will need increased reliable and affordable energy supplies.

This agreement will allow us to exchange views on energy issues at the policy level," said Zhang.

The Energy Policy Dialogue will build upon the two country's current cooperative ventures. The two countries are currently engaged in bilateral collaboration in fossil energy, energy efficiency and energy information exchanges.

Under the Energy Policy Dialogue, some active discussions on issues like energy security and regulatory reform are expected.

Zhang and Abraham are attending the international Energy Forum (IEF), held in Amsterdam on May 22-24. The IEF is a high-level biennial informal meeting that brings together energy-producing and energy-consuming nations to discuss the world's energy issues.

Source: Xinhua