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China, US to cooperate on energy security

world Updated: May 26, 2010 08:30 IST

IANS
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China and the United States agreed to work together in order to ensure energy security and stabilise the international energy market.

As the world's two largest producers and consumers of energy, China and the US have the responsibility to ensure energy security, said a joint statement after the two-day bilateral Strategic and Economic Dialogue on Tuesday.

The two countries will work to stabilise the international energy market by improving its transparency, avoiding sharp fluctuations of oil prices, and also by closely working with the International Atomic Energy Agency and other organisations, Xinhua reported.

A special team will be set up to enhance information sharing and cooperation in technological support, the statement said.

The two countries will also broaden cooperation in nuclear power security and operation and promote use of renewable energy sources.

A diversified power supply for vehicles was vital for energy security for both countries in the coming decades, the statement said, emphasising on the promotion of electric cars, energy-saving technologies and other advanced fuel substitutes.