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[[male narrator] As the world economy continues to grow,]
[the issue of energy production and consumption is increasingly a global problem.]
[[John G. Rice - Vice Chairman, GE, President and CEO, GE Technology Infrastructure]]
[Forecasts are that the requirements will grow by 50% through the year 2025,]
[and we expect that the region--Eastern Europe--will see significant growth as well.]
[[narrator] The countries of Central and Eastern Europe are in a unique position]
[to respond to the global energy challenges.]
[[Christian Colteanu - Regional Executive for Romania, Bulgaria and Moldova, GE]]
[In our region for the past 50 years, very little has been done for the infrastructure]
[in terms of efficiency, in terms of diversification.]
[[narrator] To address these regional issues, GE initiated the Regional Energy Forums]
[as a pathway to change the attitude among countries]
[and foster cooperation among stakeholders.]
[[Leslaw Kuzaj - Regional Executive for Central Europe, GE]]
[So we started two years ago in Warsaw discussing what are the global challenges]
[and how can we translate into original problems.]
[That's why we invited all possible stakeholders--]
[that includes government, business, NGOs, media--]
[to the debate to understand what is the situation as for today,]
[but what is it going to be in the nearest future.]
[[Dr. Gabor Magyar - CEO, WWF Hungary] All the partners who play a role in this fashion]
[sit together, exchange ideas, share their interest in this complex issue,]
[I think it's vital that GE is part of this group.]
[[narrator] In the largest cooperative effort ever,]
[eight American Chambers of Commerce ]
[in conjunction with Diamond Sponsor GE Energy, ]
[hosted the Second Regional Energy Forum in Budapest on October 7 and 8, 2008.]
[Over the course of two days, more than 200 representatives from stakeholder groups]
[discussed key opportunities to raise the competitiveness of the entire region]
[[Weston Stacey - Executive Director, AmCham Czech Republic]]
[This region is very energy intensive,]
[which means that for every Euro that is created in GDP,]
[you pay a very high energy cost.]
[[Rod Christie - President, GE Energy CEE & CIS] Failing to address one of the]
[fundamental pillars for any economy, which is energy, would be a grave mistake]
[I think for any of the countries.]
[[narrator] The region can leverage its size and resources]
[to find much-needed energy solutions.]
[[Peter Kiss - Partner, Energy and Utilities Advisory Services KPMG in CEE]]
[From the supply side and the demand side as well,]
[it's very important to reach the critical mass and to be integrated.]
[[Gyborgy Mosonyi - GCEO, MOL] We should not wait until European Union]
[has sorted out this unbundling issue.]
[We have to start around solution because we are far more receptive ]
[[narrator] By further engaging the government, potential areas of cross-border cooperation]
[can be identified to improve the region's competitiveness within the EU and beyond.]
[[Oleg Bugayov - Deputy Minister of Fuel and Energy, Ukraine] I think it should be natural]
[that neighboring countries, in certain situations,]
[[Dr. Samuele Furfari - Deputy-Head of Unit, DG Energy and Transport, European Commission]]
[EU have a big task ahead to develop sustainable energy.]
[We are very much committed to that,]
[and it's clear that we need to have a set of instruments to go on the right path.]
[Legislation is for sure one of those.]
[[narrator] GE, along with the AmChams of Central and Eastern Europe,]
[plans to continue this multi-stakeholder dialogue ]
[to stimulate more collaboration in the region.]
[[Gusztav Bienerth - President, AmCham Hungary] I think this year's conference]
[was also very clear that the Second Regional Energy Forum]
[should be followed by a third one.]
[[narrator] GE will continue to deliver solutions ]
[that meet the needs of Central and Eastern Europe]
[as it takes regional action on energy challenges facing the entire world today.]
