Energy Charter Treaty

13 International Energy Charter Aware of the need to promote technical and technological cooperation among signatories; Affirming that the energy policies of signatories are linked by common interests of all countries and that they should be implemented, including by taking the consequent action and applying the principles set out below; HAVE ADOPTED THE FOLLOWING Title I: Objectives The signatories are desirous of sustainable energy development, improving energy security and maximising the efficiency of production, conversion, transport, distribution and use of energy, to enhance safety in a manner which would be socially acceptable, economically viable, and environmentally sound. Recognising the sovereignty of each State over its energy resources, and its rights to regulate energy transmission and transportation within its territory respecting all its relevant international obligations, and in a spirit of political and economic cooperation, they decide to promote the development of efficient, stable and transparent energy markets at regional and global levels based on the principle of non-discrimination and market-oriented price formation, taking into account environmental concerns and the role of energy in each country’s national development. They are determined to create a climate favourable to the operation of enterprises and to the flow of investments and technologies to achieve the above objectives. To this end, and in line with these principles, they will take action in the following fields: 1. Development of trade in energy consistent with major relevant multilateral agreements such as the WTO Agreement and its related instruments, where applicable, and nuclear non-proliferation obligations and undertakings, which will be achieved by means of: • an open and competitive market for energy products, materials, equipment and services; • access to energy resources, and exploration and development thereof on a commercial basis; • access to national, regional and international markets;