BFA Perth conference brainstorms resources, energy sustainability

08:43, July 13, 2011      

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Delegates attend the BFA Energy, Resources &Sustainable Development Conference in Perth, Australia, July 12, 2011. The international conference themed "Resources, Environment, Development" was concluded Tuesday in Perth of Western Australia, as Zhou Wenzhong, Secretary General of the Boao Forum for Asia (BFA) declared that fruitful results have been achieved in two-day discussions. (Xinhua/Jiang Yaping)


The international conference themed "Resources, Environment, Development" was concluded Tuesday in Perth of Western Australia, as Zhou Wenzhong, Secretary General of the Boao Forum for Asia (BFA) declared that fruitful results have been achieved in two-day discussions.

The BFA Energy, Resources and Sustainable Development Conference took up an extensive array of topics including the transformation of Asian economies, global energy supply, resource pricing, nuclear power, the steel industry, development of infrastructure, low-carbon economy and China-Australia cooperation, attended by over 200 business leaders, experts and government officials.

Quite a few delegates recognized that the conference was highlighted largely due to the proposal made by Zeng Peiyan, former Vice Premier of China and Vice Chairman of the BFA Board.

In his speech, Zeng said a Global Mechanism for Stabilizing Energy and Resources Market (GMSERM) within the G20 framework should be established in an early date so that the world can embrace a more secure, stable and sustainable global supply of resources and energy.

The idea was echoed and appreciated by many listeners.

Zhang Guobao, the director of the Expertise Consultancy Board of China's National Energy Commission, said both demand and supply sides should enhance coordination in a globalized resources and energy scenario.

He believed a global mechanism connected with G20 as proposed by Zeng would contribute to a more secure, stable and sustainable market.

Mark Stickells, the chief executive at Western Australian Energy Research Alliance, endorsed the proposal's spirit of cooperation for a better outcome for market players.

Simon Tozer, head of Natural Resources Investment Banking of Noruma Australia, said while prices are determined by demand-and- supply relations, it is constructive to take some measures against excessive volatility that may undermine sustainability or even trigger crisis.

The BFA Perth Conference, which is jointly hosted by the Western Australia state government, was held in Perth on Monday and Tuesday. Delegates attending this conference also included BFA Chairman Yasuo Fukuda, Australian Foreign Minister Kevin Rudd, Western Australia Premier Colin Barnett, Nippon Steel Corp chairman Akio Mimura, Fortescue Metal Group CEO Andrew Forrest and Hancock Prospecting Executive Chairman Gina Rinehart, and among other distinguished figures.

As a non-government, non-profit international organization, BFA is a prestigious forum for leaders in government, business and academia in Asia and other continents to share visions on the most pressing issues in this dynamic region and the world at large.

The Forum is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals.


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