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Oil consumption in industrial nations is expected to drop slightly this year.
Trade between the two nations is expected to exceed $240 billion this year.
Developing countries are a particular concern because the industry, facing constraints in industrialized nations, is expected to market aggressively there.
The project, which officials described as the largest cooperative venture between the two nations, is expected to begin after a nine-month study is completed.
The number of people living in cities in developing Asian nations is expected to swell by 1.1 billion over the next 20 years, making urban air pollution a particularly relevant issue for the region.
As with the climate talks in Poznan, Poland, in 2008 and in Bali, Indonesia, in 2007, any serious political horse trading among nations is expected to take place in the second week, when world leaders arrive.
Similar(49)
Other nations were expected to pledge comparable amounts.
The US, South Korea, Japan and European nations are expected to call for further sanctions.
All of the other 27 EU nations are expected to be asked to contribute.
More than 10,000 athletes from 205 nations are expected to compete in next year's Olympics.
About 2,345 competitors from 80 nations are expected to attend the 2002 Winter Olympics here.
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