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The responsibility for security in energy and mineral supply should be shared globally, according to Treasury and Australia's central bank. 18th Nov 06, AAP Strong growth in energy and minerals demand and diminishing spare capacity have led to concerns about resource security, the pair said in a note prepared for a meeting of finance ministers and central bankers from the world's 20 richest nations (G20). "Resource security is a shared global objective," Treasury and the Reserve Bank of Australia said in the note prepared for G20 delegates. "There are varying perspectives to be brought to the table - from producers, consumers and industry. "Creating an environment conducive to trade, investment and innovation remains the key." They also said well-functioning markets were key to supporting sustained economic growth and development. "The G20 is well placed to better define the challenges, identify necessary policy response and generate momentum to address them," the said. "Under the broad topic of well-functioning markets, two core issues are proposed for discussion by ministers and governors in 2006 - resources security and policies to improve the operation of global energy and minerals markets." © 2006 AAP
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