The European Union and China approved the creation of an Energy Working Group, that will meet twice a year and discuss the energy cooperation strategy and review the actual common projects and define future ones. The Energy Working Group, which was foreseen by the Joint Declaration signed in Beijing on 14 October 1996 during Energy Commissioner C. Papoutsis' visit to China, will give a permanent and institutionalised base for the energy cooperation which started already in the early eighties. It will have a substantial impact on the development of technical, economic, financial and commercial cooperation. The creation of this Group replies to the rapid developments of the Chinese energy sector, which are closely related to its economic expansion. Europe wants to take part in these developments. China and Europe are faced with the same challenges: an increasing dependency on energy imports, the global character of environmental aspects and the liberalisation of energy markets. Three areas which are cornerstones of the Union's energy policy as laid down in the White Paper "An Energy Policy for the European Union". The mentioned developments are a source of great potential for further bilateral co-operation. Representatives of energy industry and services have already expressed their keen interest to participate actively in this co-operation. ***
