On 17 January 2005, Australia and Mexico signed a Memorandum of Understanding (MoU) on Cooperation in the Field of Energy. Principal Australian energy and minerals exports to Mexico in 2007-08 included coal ($A140 million), aluminium ($A22 million) and other ores ($A32 million).
The MoU builds on our already close cooperation in regional energy issues such as through the Asia Pacific Economic Cooperation (APEC) Energy Working Group, and sets out a framework for collaboration including exchange of information on energy policies, the development of energy technologies, and encouraging more bilateral trade. The MoU provides for cooperation on energy activities including:
- the exchange of research, technical and expert personnel
- joint research on exploration and development of energy resources
- technological R&D on energy conservation and efficiency methods
- use of renewable energy sources.
An Addendum to the MoU on Cooperation in the Field of Energy was signed on 2 October 2006, setting out the responsibilities of the Joint Working Group's coordinators. Meetings of the Joint Working Group will be held in Mexico and Australia alternately.
The first meeting of the Joint Working Group is expected to be held in Mexico at a mutually agreeable time.