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China Concerned about Oil Prices
Chinese Foreign Minister Tang Jiaxuan said Sunday in Bandar Seri Begawan that his country is "very much concerned" about the recent fluctuation of oil prices.
Addressing the 12th ministerial meeting of the Asia-Pacific Economic Cooperation, the Chinese Minister said the world oil prices bear on the interests of all parties, including oil importing and exporting countries, and have a significant impact on the development of the world economy.
Tang added that the excessively high oil prices will undercut the growth of the world economy and adversely affect the recovery and steady growth of the Asian economy.
China maintains that the oil producing and consuming countries should conduct dialogue and consultations on an equal footing to seek convergence of their interests and work together to keep the world oil prices within a reasonable range, the minister said.
He said China supports Thailand's proposal on increased energy cooperation in APEC.
Foreign and trade ministers from 21 APEC members are gathering here for a two-day meeting to prepare for the informal meeting of APEC leaders scheduled to be held here from Wednesday to Thursday.
APEC members may conduct exchanges and cooperation in the development and application of substitute energies, energy saving and efficiency improvement.
He said the exchanges and cooperation will not only improve the relevant members' capability to respond to the fluctuations in the world oil market, but also help achieve sustainable development in the region.
Tang pledged that China stands ready to take an active part in such activities.
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