The Declaration acknowledges the importance of the modernisation of the Energy Charter Process in order to strengthen long-term co-operation in the energy field and contribute to enhancing energy security. The Energy Charter Process should reflect new developments and challenges in international energy markets by addressing the following five strategic areas:
- Facilitating investment, preventing and managing investment related disputes;
- Continuing to broaden and deepen membership of the Energy Charter Treaty;
- Improving energy security through strengthened international cooperation to guarantee energy transit and facilitate trade;
- Promoting regional energy cooperation on the basis of the principles of the International Energy Charter and Energy Charter Treaty;
- Modernising the Energy Charter Process.