MANILA, Philippines – The breakthrough “123 agreement” on nuclear energy cooperation between the Philippines and the United States entered into force, the US State Department announced on Tuesday (Manila time).
In a statement uploaded on its website, the US State Department said the peaceful nuclear cooperation agreement entered into force last July 2.
“The Agreement will enhance our cooperation on clean energy and energy security and strengthen our long-term bilateral diplomatic and economic relationships,” it said.
It is anchored on “a mutual commitment to nuclear nonproliferation,” it added.
The agreement provides a legal framework for allowing American companies to export nuclear material, equipment and components to another country.
It will permit the transfer of nuclear material, equipment (including reactors), components and information for nuclear research and civil nuclear energy production.
The accord provides a comprehensive framework for peaceful nuclear cooperation with the Philippines based on a mutual commitment to nuclear nonproliferation.
The US State Department said the accord builds on the nearly 80 years of peaceful nuclear cooperation between both nations and establishes a framework for continued US civil nuclear trade with the Philippines.
The US forged similar agreements with other countries including Russia, China, Canada, South Korea, the United Kingdom, Japan, Taiwan, Turkey, Ukraine, the United Arab Emirates and Vietnam.