Philippines, US ink partnership for nuclear energy cooperation
The 123 Agreement will provide the legal framework for potential nuclear energy projects.
The Philippines and the United States have signed the “Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy” as part of their long-term cooperation.
Also known as the 123 Agreement, the partnership aims to arrange a legal framework for proposed nuclear power projects with US-based providers and facilitate the safety and security of nuclear energy implementation in the Philippines, adhering to protocols and regulations by the International Atomic Energy Agency (IAEA) and other watchdogs.
Under the agreement, both nations will partake in a transparent sharing of information, nuclear material, equipment, and components, for the support of future nuclear projects.
It will also allow for the streamlining of licensing requirements in the private sector as adherence to the investments towards intangible transfers of technology.
“Beyond nuclear power applications to combat climate change, the new Agreement facilitates cooperation in a wide array of other peaceful uses of atomic energy — all supportive of various Sustainable Development Goals — including plant breeding, livestock production, insect pest control, soil and crop management, water use efficiency, plastic waste disposal, food safety, health and medicine,” Raphael P.M. Lotilla, Secretary of Department of Energy, said.