PERTH (miningweekly.com) – The federal government would invest A$260 000 to establish the International Energy Agency (IEA) China Centre.
Foreign Affairs Minister Julie Bishop said on Tuesday that the funding would help create closer ties between China and the IEA.
“Effective global energy governance requires closer engagement between the IEA and economies in our region,” Bishop said.
“Today’s announcement will support China’s engagement and participation in IEA activities.”
Resources, Energy and Northern Australia Minister Josh Frydenberg added that the IEA China Centre would strengthen the relationship between China, the world’s largest energy user, and the IEA on energy markets, research and technology development.
“Australia’s funding represents an important investment and show of faith of the greater role that our region will have in global energy markets and the requirement for closer engagement with the IEA,” Frydenberg said.
The IEA is a world leading energy policy authority with 29 member countries. Australia has been a member of the IEA since 1979.
“Member country contributions such as Australia’s are voluntary and, therefore, crucial in the centre’s establishment and operation,” Frydenberg pointed out.