Int'l conference vows to ensure sustainable energy development

ASHGABAT, Nov. 29 (Xinhua) -- The 28th meeting of the International Energy Charter Conference was wrapped up with an ambitious declaration in Turkmenistan's capital Ashgabat on Wednesday.

In the Ashgabat Energy Charter Declaration, the conference emphasized that the Charter Process must reflect new developments and challenges in the international energy markets and the modernization of the Charter Process is key to ensuring the sustainable development in the energy field.

Meanwhile, the declaration stressed the importance of fostering innovation in developing energy resources, technologies and business models and the investments should best served by a stable and predictable regulatory framework.

To these ends, the declaration called on the member states to further facilitate investment, preventing and managing investment related disputes, continue to broaden and deepen membership of the Energy Charter Treaty, improve energy security through strengthened international cooperation to guarantee energy transit and facilitate trade.

"We have agreed to further promote regional energy cooperation on the basis of the International Energy Charter Treaty at the meeting and expand the contact and cooperation with those non-member states across the world," said Urban Rusnak, Secretary General of the International Energy Charter at the press conference after the adoption of the Declaration.

Any country is welcomed to join the treaty voluntarily, added the Secretary General.

The two-day meeting, titled "mobilizing investment for a sustainable energy future and diversified transportation routes," which kicked off on Nov. 28, had discussed the measures to overcome investment gap, safeguard energy security and helping the countries ensure the best use of investments for sustained development in the energy field .

According to the meeting, the 29th session of the International Energy Charter Conference will be held in 2018 in Bucharest, capital of Romania. Enditem