PM Transcripts

EMBARGO: 3: 30 PM
F79/ 36
~ MINISTER
FOR PRESS 2 MARCH, 1979
AUSTRALIAN MEMBERSHIP
INTERNATIONAL ENERGY AGENCY
The Prime Minister announced today that Australia will become
a member of the International Energy Agency ( IEA).
Australia's application to join was unanimously approved
at a meeting of the lEA's Governing Board in Paris on
1 March. This followed a comprehensive review by the Government
over the last year.
The IEA is an autonomous institution within the framework of
the Organisation for Economic Co-Operation and Development,
and is now the major forum for continuing consultation and
co-operation on energy matters between most of the
industrialised nations which are Australia's principal trading
partners. The Prime Minister stated that Australia would obtain a number
of benefits from membership. These would include participation
in the IEA's long-term co-operation activities, covering
energy conservation programs and joirf ' energy research and
development projects, and participation in the lEA's Emergency
Oil Sharing Scheme.
Membership of the TEA would also be valuable in view of
Australia's position as an increasingly important net energy
exporter, and the Government's determination to make energy
materials available on reasonable terms to its trading
partners. Australia would also derive advantage from access
to information available within the TEA on the international
oil market.
The G-1overnment has made it clear to the IEA that its accession
to the TEA's Agreement on an International Energy Program,
and its acceptance of the subsequent decisions of the TEA's
Governing Board, are to the extent that these are compatible
with '_ ustralia's federal constitution, and the Government's
policies on foreign investment, uranium and other energy
resources.
Mr. Fraser said that the responsibility of co-ordinating TEA
matters had been given to the Minister for National Development,
Mr. Newman, who proposes to make a statement to Parliament
next week on the details of Australian membership. Also the
matter will be taken up in detail with the States and the
Northern Territory through the machinery of the Australian
Minerals and Energy Council. 000---