ASEAN+3 OSRM

The Roadmap was based on the Joint Declaration of the 5^th AMEM+3 held in Bangkok, Thailand on 7^th of August 2008. It was approved at the 9^th SOME+3 and 7^th AMEM+3 held in Da Lat Viet Nam, July 2010. It recognized the necessity of oils stockpiling initatiatives in the light of persistent risks of supply disruptions and highly volatile oil market. It will also facilitate and encourage all member states to further improve oil stockpiling initiatives. The roadmap was based on 4 principles: Voluntary and non-binding, mutual benefits, mutual respect and respect for bilateral and regional cooperation, and step-by-step approach with long-term perspectives.