The IEF fosters a greater mutual understanding and a heightened awareness of the interests of all participating countries. The unprecedented spirit of cooperation demonstrated by the 70 signatories of the IEF Charter illustrates the long-term commitment of key governments to a dialogue process which builds trust among member countries as they recognise and embrace interdependency for its potential as a cohesive force.
The approval and signature of the Charter by 70 countries marks a new era of international energy cooperation built on greater mutual understanding and trust, with a significant reinforced political commitment to an informal, open, informed and continuing global energy dialogue in the framework of the IEF among energy producing and energy consuming countries including Transit States. There is now a solid foundation for a productive dialogue that fosters greater mutual understanding between producing and consuming countries on key energy policy issues and where possible, narrows the differences in views and helps build trust in policy intentions. With all the major energy producers and consumers united in this global dialogue framework a powerful positive signal is sent to the energy world and energy markets that difficult issues can and will be tackled in a global context wherever necessary.