RP URGES DEVELOPING COUNTRIES TO ENHANCE ENERGY COOPERATION EFFORTS 

Putrajaya, Malaysia, 30 May 2006 – Foreign Affairs Secretary Alberto G. Romulo emphasized the need for developing countries to strengthen cooperation in oil and energy cooperation at the General Debate of the Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM-CoB) here Monday. 

“We fully recognize the need to promote the stability of oil prices in the world market by diversifying global energy supply through cleaner, advanced and more affordable alternative energy sources,” Secretary Romulo said.

According to the Secretary, there is an urgent need to address the current oil crisis in order to advance socio-economic development and consequently, ensure the attainment of the UN Millennium Development Goals (MDGs). 

“Heavy reliance on oil and spiraling global oil prices threaten to undermine the development inroads achieved by members of NAM.  Economies may be unable to cushion the effect of staggering rise in oil prices that directly impact the poorest of the poor,” the Secretary added. 

Romulo pointed out the unabated rise in global oil prices lays a significant portion of the developing world’s population already vulnerable to exploitation “more open to manipulation” by “extremism and discontent.”

The developing world’s leading political caucus in the UN system, the Non-Aligned Movement traces its origins to the Afro-Asian Summit held in Bandung, Indonesia in 1955.  Malaysia hosts the high-level NAM-CoB as NAM Chair since 2003.  Cuba assumes the chairmanship in September 2006.  

Accompanying Secretary Romulo at the NAM-CoB are Undersecretary for Special Concerns Rafael Seguis, United Nations and Other International Organizations Assistant Secretary Aladin Villacorte, Philippine Ambassador to Malaysia Victoriano Lecaros, Philippine Permanent Representative to the United Nations in Geneva Enrique Manalo and Minister Leslie Gatan of the Philippine Mission to the United Nations in New York.  END