Australia and Germany have signed a Joint Declaration on Energy and Resources Cooperation which aims to increase cooperation and research and development collaboration between the two countries in the resource and energy sectors.

 

Foreign Minister Kevin Rudd said the Joint Declaration forms the foundation to deepen trade and investment opportunities for Australian and German companies in the resources sector, as well as diversifying investment opportunities within third countries.

 

In 2009-10 total proposed investment from Germany in mineral exploration and development in Australia totalled $75 million.

 

Resources and Energy Minister Martin Ferguson  said Australia and Germany shared a commitment to exploring R&D opportunities and encouraging investment in the clean energy, minerals and low-carbon technology sectors.

 

“Australia is a resource-rich nation and also a world leader in mining technology and services. Germany also has a strong record in innovation and by joining forces we can work together to create highly skilled opportunities for the future to the benefit of both our countries.”