Bo'ao Energy Forum for Asia closes with call for stable energy supply

Bo'ao Energy Forum for Asia (BEFA) on Sunday concluded in Tehran with an agreement among the delegates that stable energy supply necessitates stabilized political and economic environments.

The delegates commonly perceived that the current fluctuating petroleum price was mainly caused by the economic and political instability witnessed in the main petroleum producing areas.

The instability led to the hesitation of investment and the possibility of speculation, which undermined the foundation of crude oil market and naturally portended a waving price, said BEFA delegates, including Long Yongtu, Secretary General of Bo'ao Forum for Asia (BFA), and Bijan Namdar-Zangeneh, Iranian Oil Minister.

BEFA delegates believed that the sole solution to petroleum price fluctuation lies in stabilization of the economic and political environment in the related areas.

They also dismissed the view that oil price had been shaken by the surging demand of several prosperously developing countries such as China and India, saying that it was politically motivated and the current oil price failed to reflect the supply-demand situation.

They agreed promoted cooperation among Asian countries as well as between Asian countries and the rest of the world would be a colossal aid to the meeting of challenges emerging in the area of energy supply.

A strengthened dialogue and cooperation between the oil-supplying West Asia and the oil-demanding East Asia would pave the way for the appropriate allocation and circulation of energy resources as well as, further, the healthy development of economy, BEFA delegates believed.

Additionally, BEFA discussion also placed great emphasis on the environmental protection in the production and consumption of energy.

The encouragement of developing and utilizing clean energy can never be over-emphasized, and it is highly expected that Asian countries formulate related policies followed with immediate and complete implementation, the floor unanimously proposed.

As to BFA's choice of energy as topic of conference, it was reiterated by the BEFA delegates that BFA has picked a discussion-worthy issue and the discussion and dialogue should be continued and extended.

Some delegates even suggested that energy forum be fixed as a routine conference of BFA so that the hot topic would enjoy a regular and lasting communication.

For BFA itself, the heating discussion and desirable agreement proved success of the conference, which, furthermore, showed that BFA is expanding, in view of the fact that BEFA was BFA's first conference held outside China.

Bo'ao Forum for Asia, founded in 2001 in Bo'ao of Hainan Province, China, aims to seek promotion of economic cooperation and dialogue in Asia as well as between Asian countries and the rest of the world.

Source: Xinhua