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3 — The Management Committee shall review such reports and make proposals on appropriate co-operative action to the Governing Board, which shall decide on such proposals.

ARTICLE 40

The Standing Group on the Oil Market shall submit annually a general report to the Management Committee on the functioning of the framework, for consultation with oil companies.

CHAPTER VII Long term co-operation on energy

ARTICLE 41

1 — The Participating Countries are determined to reduce over the longer term their dependence on imported oil for meeting their total energy requirements.

2 — To this end, the Participating Countries will undertake national programs and promote the adoption of co-operative programs, including, as appropriate, the snaring of means and efforts, while concerting national policies, in the areas set out in article 42.

ARTICLE 42

1 — The Standing Group on Long Term Co-operation shall examine and report to the Management Committee on co-operative action. The following areas shall in particular be considered:

a) Conservation of energy, including co-operative

programs on:

Exchange of national experiences and information on energy conservation;

Ways and means for reducing the growth of energy consumption through conservation.

b) Development of alternative sources of energy

such as domestic oil, coal, natural gas, nuclear energy and hydro-electric power, including co-operative programs on:

Exchange of information on such matters as resources, supply and demand, price and taxation;

Ways and means for reducing the growth of consumption of imported oil through the development of alternative sources of energy;

Concrete projects, including jointly financed projects;

Criteria, quality objectives and standards for environmental protection.

c) Energy research and development, including

as a matter of priority co-operative programs on:

Coal technology; Solar energy;

Radioactive waste manegement:

Controlled thermo-nuclear fusion;

Production of hydrogen from water;

Nuclear safety;

Waste heat utilisation;

Conservation of energy;

Municipal and industrial waste utilisation

for energy conservation; Overall energy system analysis and general

studies.

d) Uranium enrichment, including co-operative programs:

To monitor developments in natural and enriched uranium supply;

To facilitate development of natural uranium resources and enrichment services;

To encourage such consultations as may be required to deal with international issues that may arise in relation to the expansion of enriched uranium supply;

To arrange for the requisite collection, analysis and dissemination of data related to the planning of enrichment services.

2 — In examining the areas of co-operative action, the Standing Group shall take due account of ongoing activities elsewhere.

3 — Programs developed under paragraph 1 may be jointly financed. Such joint financing may take place in accordance with article 64, paragraph 2.

ARTICLE 43

1 — The Management Committee shall review the reports of the Standing Group and make appropriate proposals to the Governing Board, which shall decide on these proposals not later than 1st July, 1975.

2 — The Governing Board shall take into account possibilities for co-operation within a broader framework.

CHAPTER VIII

Relations with producer countries and with other consumer countries

ARTICLE 44

The Participating Countries will endeavour to promote co-ope rat iive relations with oil producing countries and with other oil consuming countries, including developing countries. They will keep under review developments in the energy field with a view to indentifying opportunities for and promoting a purposeful dialogue, as well as other forms of co-operation, with producer countries and with other consumer countries.

ARTICLE 45

To achieve the objectives set out in article 44, the Participating Countries will give full consideration to the needs and ante resits of other oil consuming countries, particularly those of tlie developing countries.