It gives me great pleasure to speak to you at this Symposium on Energy and ASEAN Economic Integration.

As we all know, energy security, conservation and efficiency, and the impact on the environment have now captured worldwide attention. Energy security was the focus at the 2 nd East Asia Summit (EAS) in January 2007 in Cebu, the Philippines . The EAS Leaders signed the Cebu Declaration on Energy Security and that document has guided several follow-up initiatives in recent months.

Recently, we witnessed energy security being deliberated at the APEC Leaders Summit in Sydney , Australia . The subject will also be one of the main topics at the upcoming 13 th ASEAN Summit and the 3 rd East Asia Summit in Singapore in November 2007. This will then be followed by the Conference on the UN Framework Convention on Climate Change in Bali , Indonesia in December.

The EAS Cebu Declaration put forward four broad goals. These are: (a) improve efficiency and environmental performance of fossil fuel use; (b) reduce dependence on conventional fuels through intensified energy efficiency and conservation programs, hydro-power, expansion of renewable energy systems and bio-fuel production/utilisation, and for interested parties, civilian nuclear power; (c) mitigate greenhouse gas emission through effective policies and measures, thus contributing to global climate change abatement; and (d) pursue and encourage investment in energy resources and infrastructure development through greater private sector involvement.

I am pleased to highlight to you that the 1 st EAS Energy Ministers Meeting was held on 23 August 2007 in Singapore . During that Meeting, the EAS Energy Ministers endorsed the implementation of three work-streams, which are: (a) energy efficiency and conservation; (b) energy market integration; and (c) bio-fuels for transportation and other purposes. These work streams should set the stage for tangible initiatives that would realise the goals of the Cebu Declaration not just for the ASEAN Economic Community but for the East Asian region.

Concurrent with the EAS initiatives, allow me to present two areas where I deem greater private sector involvement could come in as exemplified in Japan .

Firstly, given that the industrial sector generates the highest percentage of Greenhouse Gases, there is ample room for the private sector to promote environment protection/ energy conservation.  This is where developing countries could learn from Japan . Under Japan 's Revised Law concerning the Rational Use of Energy, large- and medium-sized factories are required to appoint energy conservation administrators and to submit medium- and long-term energy conservation plans and energy consumption reports.  Among Japanese industries, the Japan Business Federation (Nippon Keidanren) plays a major role with its voluntary action plan, which leads major energy conservation trends in Japan 's industrial sector. 

Secondly, in Japan , the energy conservation efforts in the Non-Industrial Sector have increased steadily since the oil crises. In the household sector, for instance, electrical appliances are becoming more energy efficient. Manufacturers/producers of consumer products can seize this opportunity to introduce more energy-efficient goods. Their brand names can be strengthened and business will increase if their products are environment-friendly. For example, motion detectors to trigger lighting when needed and timers to switch off power during idle periods.

It is my hope that this symposium would stimulate greater interest and information exchange among all stakeholders. Therefore, I would like to congratulate JETRO Bangkok for spearheading this initiative.

Before concluding my statement, I would like to say a few words on the proposed Economic Research Institute for ASEAN and East Asia (ERIA). This is an initiative of the Japanese government, especially its economic agencies (METI, JETRO). Currently, experts from 16 countries participating in the EAS are pooling their experience and knowledge to do several research projects, which can contribute to better policy development. The progress of their work will be reported to the EAS Leaders in November 2007. A formalised set-up to strengthen ERIA is also being planned.

I wish all participants in this symposium a fruitful exchange of ideas. I encourage the delegates to interact with each other so that all opinions are heard and the objectives of this symposium are well met.

Thank you for your kind attention.