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20:22, July 05, 2007 |
The European Union and Brazil met in BrusselsThursday to talk about the benefits of using more plant-based fuels, and how to minimize the environmental risks of doing so.
Brazilian President Luiz Inacio Lula da Silva, whose country is the leading producer of biofuel, and Portuguese Prime Minister Jose Socrates are among the leaders at the two-day meeting to discuss the global trade in biofuels.
"Properly managed, biofuels have the potential to offer important benefits," European Commission President Jose Manuel Barroso said prior to the meeting.
Barroso said biofuels can help reinforce energy security and reduce greenhouse gas emissions. "They also provide an important opportunity for industrial development, innovation and employment promotion."
In March, the EU adopted an ambitious energy policy package which aimed to strengthen the partnerships with producers, transit countries and consumers
It set a mandatory target for the 27-nation bloc to raise biofuels market share to at least 10 percent by 2020.
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