The Baoao Forum for Asia Global Energy and Resources Roundtable was held in Qingdao, Shandong Province on Nov. 5. [Xinhua]

The Baoao Forum for Asia Global Energy and Resources Roundtable, held in Qingdao, Shandong Province on Nov. 5, called for the establishment of a new platform for dialogue to meet challenges raised by a turbulent energy market.

Over 50 government officials, enterprisers and experts from around the world participated in the roundtable.

The meeting suggested that the turbulent global economy and instability in key regions are affecting the supply and demand in the energy market. The constant price fluctuations not only harm the interests of countries in high demand of energy and other resources, they also hinder the long-term stability and sustainable development of energy producers. In order to counter this, discussions in the meeting concluded, suppliers and consumers must establish a friendly relationship that is cooperative and lasting.

Event participants called for a dialogue mechanism between supplier and consumer of energy and resources within the BFA framework to develop mutual understanding, and eliminate the effects of non-economic factors on energy prices.

The roundtable meeting recommended establishing a nonbinding platform and making it a place for facilitating talks between enterprises, experts and representatives of government.

Zhou Wenzhong, secretary general of BFA, said that the first dialogue was expected to take place in July or August next year.