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SINGAPORE: Singapore and the US inked a landmark deal on Wednesday (Jul 31) to study how nuclear technology can support climate and energy needs.
The agreement, commonly known as a “123 Agreement”, was signed by Foreign Affairs Minister Vivian Balakrishnan and US Secretary of State Antony Blinken on the second day of his official visit to Singapore.
However, Singapore has not made any decision regarding the deployment of nuclear energy in the country, read the joint statement on Wednesday.
“Any deployment decision will require detailed studies of the safety, reliability, affordability, and environmental sustainability of nuclear energy in our local context.
“Most designs of advanced nuclear reactors are still undergoing research and development and have not begun commercial operation.”
According to the statement, the agreement will enable deeper nuclear cooperation and build on Singapore and US’ strong bilateral partnership.
The agreement is expected to come into force by end-2024 and will last for 30 years.
This agreement will also enable Singapore to collaborate with other countries that use nuclear energy technologies and designs containing components or intellectual property of US origin.
To date, the US has 24 active 123-Agreements including with China, India and Japan.
Several ASEAN member states also have agreements with the US. Indonesia and Vietnam’s respective deals with the US came into force in 1981 and 2014, while the Philippines’ agreement with the US entered into force earlier this month on Jul 2.
123 AGREEMENTS
123 Agreements provide a legal framework for peaceful nuclear cooperation such as the export of nuclear material, equipment, and components from the United States to another country, according to the US Department of State’s website.
In addition, they facilitate cooperation in other areas, such as educational and technological transfers and collaborations between US and partner countries.
Partners are held by a set of non-proliferation requirements to guarantee that the information obtained through this agreement will only be used for peaceful purposes.
US Congress approval is needed for the deal, which will facilitate Singapore’s access to detailed information on US nuclear energy technologies and expertise that are under export control.
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